The Securities and Exchange Commission (SEC) has issued a strong warning to all publicly listed companies in Nigeria regarding the simultaneous publication of their periodic financial returns on their websites.
In a circular released on Tuesday, the Commission stated that sanctions for non-compliance would begin in January 2025.
The SEC expressed concerns about companies submitting their financial returns to the SEC and relevant exchanges without also posting them on their corporate websites.
This practice, the SEC noted, violates Rules 39 and 41 of its Regulations, which require that such information be made publicly available to promote transparency and enable informed investment decisions.
