{"id":58261,"date":"2024-12-20T13:00:47","date_gmt":"2024-12-20T13:00:47","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=58261"},"modified":"2024-12-20T13:00:47","modified_gmt":"2024-12-20T13:00:47","slug":"sec-mandates-public-companies-to-publish-financial-statements-online","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/12\/20\/sec-mandates-public-companies-to-publish-financial-statements-online\/","title":{"rendered":"SEC Mandates Public Companies to Publish Financial Statements Online"},"content":{"rendered":"<p><strong>By Cynthia Abah<\/strong><\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Non-compliance, the Commission warned, will attract penalties.<\/p>\n<p>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.<\/p>\n<p>\u201cThis omission undermines investor confidence and transparency requirements,\u201d the Commission stated.<\/p>\n<p>Publishing periodic financial returns on company websites, the SEC added, is vital for building trust, fostering shareholder engagement, and strengthening Nigeria&#8217;s capital market.<\/p>\n<p>Dr. Emomotimi Agama, SEC\u2019s Director-General, urged swift compliance, emphasizing the capital market\u2019s role in driving Nigeria\u2019s goal of becoming a $1 trillion economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":58262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-58261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=58261"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58261\/revisions"}],"predecessor-version":[{"id":58263,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58261\/revisions\/58263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/58262"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=58261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=58261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=58261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}