WorldStage– C & I Leasing Plc which is into maritime and logistics, announced another delay in filing its Q1 unaudited financial statement (UFS) on the Nigeria Exchange Group, sustaining a culture that dates back at least six years.
The Exchange requires listed companies to publish their audited financial statements (AFSs) latest 90 days after their financial year end, and their UFS at the end of each quarter.
In an April 15 disclosure on the Exchange, the finance leasing company blamed its failure on the Central Bank of Nigeria’s approval of the 2025 audited financial statement (AFS) that is taking more time.
A March 3 notice it filed pinned the AFS delay not only on the CBN but also on the company’s offshore subsidiaries having audit issues that need “finalizing”.
The company has no board audit committee, but only one professional on its statutory audit committee, though it retains Ernst and Young as external auditors.
“We appreciate the patience and understanding of all stakeholders during this period,” the company stated.
It made similar excuses and pleas in 2024 when it missed its 2023 AFS, in 2023 when it missed its 2022 AFS, and in 2021 when it missed the previous year’s AFS and the Quarter 1 UFS.
The pattern stretches down to 2018 when it blamed covid-19 and the CBN for missing the deadline in 2029 and 2020.
In its 2025 corporate governance compliance report it filed late March, the company stated it got fines from the CBN, the Security Exchange Commission, and the Exchange.
The penalties add up to about N12 million.
C &I has already listed among the 47 companies the Exchange compiled for not rendering their regulatory AFS filings for 2025.
