By Cynthia Abah
The Securities and Exchange Commission (SEC), has directed all publicly listed companies in Nigeria to publish their financial statements on their official websites starting January 2025.
In a circular issued Thursday, the SEC stated that the initiative aims to enhance transparency, improve investor access to financial information, and promote informed decision-making.
Non-compliance, the Commission warned, will attract penalties.
The SEC highlighted that many companies currently submit financial reports to regulatory authorities but fail to make the same information accessible online, violating Rules 39 and 41 of its regulations.
“This omission undermines investor confidence and transparency requirements,” the Commission stated.
Publishing periodic financial returns on company websites, the SEC added, is vital for building trust, fostering shareholder engagement, and strengthening Nigeria’s capital market.
Dr. Emomotimi Agama, SEC’s Director-General, urged swift compliance, emphasizing the capital market’s role in driving Nigeria’s goal of becoming a $1 trillion economy.
