By Ayomide Otitoju
Access Holdings Plc has issued a formal notice to the Nigerian Exchange Limited (NGX) and the investing public, indicating the possibility of a delay in the publication of its audited financial statements for the year ended December 31, 2024.
The disclosure, made available through the NGX, follows an earlier announcement on February 27, where the group initially flagged a potential delay due to the complex nature of “post-completion audit activities,” particularly following the integration of newly acquired sub-subsidiaries.
In its latest statement, Access Holdings confirmed that the audited financial statements have been submitted to the Central Bank of Nigeria (CBN) for regulatory approval. However, it cautioned that recent public holidays may impede the CBN’s review timeline, thereby affecting the company’s ability to meet the revised filing deadline.
“While awaiting the CBN’s review and approval of the results, which may be impacted by the public holidays, it is anticipated that the Company may not meet the extended deadline for filing the results with the NGX,” the group stated.
In view of these developments, Access Holdings has secured a further extension, allowing it to file its audited results on or before April 20, 2025, subject to CBN’s final approval.
The company also reaffirmed that the closed period on trading of its securities remains in effect and will continue until 24 hours after the official release of the financial statements.
Back in February, Access Holdings explained that the delay stemmed from the intricate audit procedures necessitated by its expanding group structure. At the time, the Securities and Exchange Commission (SEC) granted an extension to March 31, 2025, contingent on regulatory clearance from the CBN.
Despite the delay, Access Holdings reported strong performance in its unaudited third-quarter results. For the nine months ended September 30, 2024, the group recorded a pre-tax profit of ₦558.1 billion, marking an 89.59% increase from the previous year. The third quarter alone saw a pre-tax profit of ₦209.2 billion, up 65.01% year-on-year.
A review of the results highlighted that core banking activities—mainly interest income and fee-based commissions—were central to the group’s robust performance during the period.
