Oando Energy to Publish Audited Financials Nov 1 –Official

Oando Energy Plc has announced that its 2023 audited financial statement will be published latest by November 1, 2024, a detail from its latest regulatory filing submitted on the Nigerian Exchange has revealed.

The dual-listed energy company had earlier in the month told the Nigerian Exchange and the investing public about its plan to publish its financials by October 23, 2024.

Due to failure to meet the agreed date, the equities market regulator suspended trading activities on the ticker pending the submission of its earnings scorecard in the market. The company said the publication of its 2023 Audited Financial Statements (AFS) was delayed due to the materiality of its recently completed acquisition.

“We hereby regret to notify the public of a seven-day delay. We wish to further provide an update that the Audit Committee and Company’s Board had convened as scheduled to review and approve the 2023 AFS and had provisionally approved the financials presented subject to the issuance of the auditors’ opinion,” Oando said on Friday.

The energy company said its auditors requested additional time to finalize their audit opinion, which now includes evaluating the impact of the acquisition.

“Once the audit opinion is issued and the financial statements are approved by the audit committee and the board on October 30, 2024, the auditors will submit the financials to the Financial Reporting Council of Nigeria (FRCN) for approval, after which they can be published on the NGX and JSE Limited,” the statement reads.

The energy company said, in line with the FRCN’s approval timeline, it anticipates that the 2023 AFS will be published on or before November 1st, 2024. #Oando Energy to Publish Audited Financials Nov 1 –Official