Oando joins list of companies delaying audited financials, announces new dates

Oando Plc has joined the list of companies delaying the release of its Audited Annual Financial statement, for the period ended December 31, 2019, as the deadline for submission approaches.

Ripples Nigeria had reported that Ardova won’t be submitting its 2021 annual financials within the 90 days timeframe after the calendar period, with the company stating acquisition of Enyo Retail and a joint venture for an oil marginal field last year led to the delay.

Oando also postponed its release date citing mandatory audit of post balance sheet events that have occurred subsequent to the 2019 reporting period, a statement released to the Nigerian Exchange Limited (NGX) on Wednesday showed.

Read also: Oando denies Mele Kyari’s claim, as NNPC moves to sanction adulterated fuel importers

Although, the company stated that the preparation of the financials was in its finalisation stage, making it possible for the board of directors to approve the 2019 AFS on or before April 30, 2022, as its working with external auditors on the accounts.

“Following the approval, management and the auditors will approach the Financial Reporting Council for final approval and release of the financial statements.” the statement reads.

Oando further revealed that financials for the remaining periods will be released on tentative dates; May 3, 2022 for 2020 Unaudited Financial Statements, July 31, 2022 for 2020 Audited Financial Statements, August 5, 2022 for 2021 Unaudited Financial Statements and October 31, 2022 for 2021 Audited Financial Statements.

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