The Securities and Exchange Commission (SEC) has issued a directive requiring all publicly-listed companies to publish their financial statements on their websites starting January 2025. The commission warned that failure to comply with this directive would attract sanctions.

In a statement released on Tuesday, SEC noted that while public companies routinely file periodic returns with the commission and relevant securities exchanges, many fail to make these financial statements accessible on their websites, contravening Rules 39 and 41 of the Commission’s Rules and Regulations.

“The rationale for the publication of periodic returns on their websites is to provide seamless access by the public to such information, which would serve as a guide to making sound investment decisions,” SEC stated.

The commission emphasized the importance of timely disclosures as a critical aspect of shareholder engagement and investor confidence.

SEC has outlined strict enforcement measures for companies that fail to comply with the directive. Effective January 2025, any public company that does not publish its periodic financial returns on its website alongside submissions to the SEC and relevant securities exchanges will face penalties.

“Timely disclosures are a key component of shareholder engagement,” the statement reiterated, adding that public companies must align with these rules to avoid regulatory action.

Meanwhile, SEC also addressed fintech operators in the capital market, emphasizing the need for compliance with regulatory frameworks when raising funds.

Emomotimi Agama, SEC’s Director-General, reiterated the commission’s commitment to safeguarding investor interests amidst the growing adoption of fintech solutions in the capital market.

“Fintech operators must adhere to the rules of the capital market, as the commission remains steadfast in protecting investors,” Agama stated.

This directive underscores SEC’s dedication to transparency and investor protection while promoting accountability among public companies and market operators.

FirstBank, through its First@arts initiative, has launched the annual DecemberIssaVybe campaign to inspire and empower Nigerians to create and enjoy thrilling memories.

The campaign provides fully paid access to concerts, shows, plays, and festivals featuring A-list entertainers, including Kizz Daniel, Davido, Burna Boy, Asake, and Tiwa Savage.

FirstBank has consistently supported festive concerts and events, creating unforgettable experiences for music lovers.

This year’s campaign kicked off with Kenny Blaq’s Reckless Musicomedy Festival at Onikan Stadium, Lagos, featuring performances by DJ Neptune, Kenny Blaq, Aproko, MC Monica, and others.

FirstBank distributed free tickets to young Nigerians and entertainment enthusiasts through engaging social media activities.

The bank’s Ag. Group Head of Marketing & Corporate Communications, Olayinka Ijabiyi, emphasized FirstBank’s commitment to delivering a ‘Wow December to Remember’ experience.

To participate, follow FirstBank on social media:

Facebook: First Bank of Nigeria Limited
Instagram: @firstbanknigeria
Twitter: @firstbankngr

Stay updated on ticket giveaways and experience the vibrant party atmosphere this season!

United Bank for Africa(UBA) through UBA Foundation, its corporate social responsibility arm, has donated the sum of N500 million to the Lagos State Security Trust Fund (LSSTF), as part of its continued commitment to secure environment for individuals and businesses

l-r: Group Deputy Managing Director, United Bank for Africa (UBA), Muyiwa Akinyemi; Lagos State Governor Babajide Sanwo-Olu; and Group Chairman, UBA, Mr. Tony Elumelu, during the presentation of N500m to Lagos State Security Fund by UBA Foundation, the corporate social responsibility arm of UBA, held at Lagos House, Marina on Sunday.

The N500m cheque was presented to the Lagos State Governor, Babajide Sanwo-Olu, by the UBA Group Chairman, Tony Elumelu, who was accompanied by the bank’s Deputy Managing Director, Mr. Muyiwa Akinyemi, at the State House, Marina, Lagos on Sunday.

Speaking during the presentation, Elumelu reiterated the bank’s dedication to supporting initiatives that ensure the safety and prosperity of communities across Nigeria adding that “At UBA, we understand that security is critical for economic growth and societal well-being.

“Our donation to the Lagos State Security Trust Fund is a reflection of the bank’s belief in building safer communities to enhance the quality of life for all.

“We are proud to partner with the Lagos State Government to achieve this shared vision of a secure environment conducive to investment and development.”

While receiving the N500m cheque, the Lagos State Governor expressed appreciation to the UBA Group and UBA Foundation for the significant contribution and commended Mr. Tony Elumelu for its unwavering commitment to impactful projects, state’s progress and well-being.

He said, “we are grateful to the UBA Group for their significant contribution to the Lagos State Security Trust Fund.

“This donation will strengthen our efforts to enhance security and protect our citizens. Together we are building a safer Lagos for all”

This latest gesture aligns with UBA Foundation’s Special Projects initiative, which focuses on addressing pressing societal issues through strategic partnerships and impactful interventions.

Over the years, UBA Foundation has actively contributed to enhancing education, the environment, and economic empowerment and special projects such as these critical donations across Africa.

The Foundation’s commitment to security as a driver of sustainable development is evident in its support for programs like the LSSTF.

Group Chairman, United Bank for Africa (UBA), emphasised the bank’s role as a leader in giving back to society.

He explained that in pledging its support to the state’s efforts at improving security, UBA recognizes the vital link between safety and economic stability.

He said, “This partnership with the Lagos State Government reinforces the Bank’s belief in collaborative efforts as the key to addressing security challenges and creating environments where individuals and businesses can thrive.

“We believe that a secure Lagos State is integral to a secure Nigeria. UBA Foundation will continue to support transformative initiatives that uplift lives and drive development.”

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.