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Ndokwa Vanguard

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SEC denies claim of not auditing its financial statements since 2014

Jun 25, 2023 #News

The Securities and Exchange Commission (SEC) has debunked claims of not releasing annual reports and accounts for 9 years. 

The SEC which described the allegation as false, stated that it is only obligated to submit its financials only to the relevant agencies that are statutorily empowered by the federal government.

The statement read; 

“The attention of the Securities and Exchange Commission (the commission), the apex regulator of the Nigerian capital market, has been drawn to some reports in the electronic and print media, insinuating that the commission had not audited its financial statements since 2014.

“Contrary to these false claims, the commission, as a law-abiding agency, has duly audited its financial accounts year after year before and onward from 2014, and has submitted these to the relevant agencies statutorily empowered by the federal government to receive same, including the Federal Ministry of Finance, Budget and National Planning; Office of the Auditor General of the Federation; Fiscal Responsibility Commission; Office of the Accountant General of the Federation, as well as the appropriate committees of the national assembly.

“The commission, being a strong promoter of world-class corporate governance standards, hereby restates its commitment to upholding such ideals and strongly advises persons with requests for information to channel such to [us] via email to sec@sec.gov.ng, and to which the commission would respond accordingly.

“The dissemination of factual information is critical to complementing the efforts of the federal government for the growth and development of the capital market and Nigeria’s economy.”

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