Publicly-Listed Companies Required to Disclose Financials Online by January 2025
Starting in January 2025, publicly-listed companies will need to post their financial statements on their websites, as per a new directive from the Securities and Exchange Commission (SEC). This move aims to make it easier for the public to access important financial information that can help with investment decisions. The SEC emphasized that companies have been filing their periodic returns with the Commission and securities exchanges, but many have not been sharing this information on their websites, which goes against the SEC’s rules.
The Commission stressed the importance of timely disclosures for engaging shareholders and boosting investor confidence in the Nigerian equities market. To enforce this directive, the SEC outlined measures to penalize companies that do not comply with the new rule. From January 2025 onwards, any public company that fails to follow these rules regarding filing periodic returns with the Commission, securities exchanges, and posting them on their website will face appropriate penalties.
It’s crucial for companies to keep up with these requirements to ensure transparency and accountability in the financial sector. Providing easy access to financial statements online is key in helping investors make informed decisions. With these changes taking effect in January 2025, publicly-listed firms will need to stay on top of their online disclosures to avoid sanctions from the SEC.
