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Nairaland Forum / Nairaland / General / Investment / SEC Stops Stanbic IBTC Rights Issue On FRC Investigation (603 Views)
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SEC Stops Stanbic IBTC Rights Issue On FRC Investigation by Adesiji77: 11:23pm On Sep 10, 2015 |
The Securities and Exchange Commission has suspended the Rights Issue of Stabic IBTC Plc following the probe of the bank by the Financial Reporting Council (FRC) for irregularities in its financials.http://leadership.ng/business/459609/sec-stops-stanbic-ibtc-rights-issue-on-frc-investigation lalasticlala davide470 |
Re: SEC Stops Stanbic IBTC Rights Issue On FRC Investigation by Adesiji77: 11:26pm On Sep 10, 2015 |
THISDAY had reported last week that there were indications that the planned N18 billion rights issue may not be approved until allegations of financial under dealings brought against the financial institution by its shareholders are resolved. There had been further suggestions that the bank's 2014 financial statement may be criticised and rejected by the Financial Reporting Council (FRC), should the allegations be further established by regulatory authorities. http://www.pilot-securities.com/marketnews.php?id=1173 |
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