August 06, 2012 / Daily Trust / NSE

The NSE said at the weekend that it has rejected the submission of 12 quoted companies’ unaudited second quarter accounts as a result of their failure to comply with International Financial Reporting Standard (IFRS). 

In a notice to all dealing members, NSE said though the affected companies have submitted their second quarter unaudited financial statements for the period ended June 30, 2012, the accounts could not be presented because they are not in compliance with IFRS. NSE said it has informed the companies to comply with the reporting requirements of the IFRS and resubmit the accounts for presentation to the market.
 

The affected companies are

1. Pharma Deko Plc,

2. Oasis Insurance Plc,

3. Cornerstone Insurance Plc,

4. Premier Paints Plc,

5. Juli Plc,

6. African Paints (Nigeria) Plc,

7. Union Ventures Plc,

8. Afromedia Plc,

9. Aluminium Extrusion Industries Plc,

10. Mutual Benefits Assurance Plc,

11. Red Star Express Plc and

12. SCOA Plc