The Nigerian Stock Exchange (NSE) has fined Conoil Plc; Deap Capital Management & Trust, a Mortgage banker; R.T. Briscoe Plc; FTN Cocoa Processors Plc; eTransact International; Royal Exchange Plc and 35 others over N1 billion for their failure to file their financial statements with the bourse.
This was found in the NSE’s X-Compliance report that was released on April 1 2021. In the report, the NSE fined Deap Capital the sum of N5.5 million for default in the filing of its 2019 audited account, R.T.Briscoe was also fined about N53.4 million over its failure to turn in its audited report since 2018 to the Exchange.
Conoil Plc was fined N800,000, FTN Cocoa Processors was fined N50.3 million, Juli Plc, Omatek Ventures, Royal Insurance, Union Dicon, and Niger Insurance were slapped with N151.2 million, N537.2 million, N22.3 million, N27.5 million, and N84.2 million fines respectively among others for similar defaults.
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