Kogi: Yahaya Bello’s Govt Seals Off UBA HQ (See Why)

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Kogi state governor Yahaya Bello Photo: Kogireporters

The Kogi State Internal Revenue Service (KSIRS) on Friday morning, sealed off the state headquarters of the United Bank for Africa (UBA) for tax default, Concise News reports.

The service said that the premises will remain closed until full compliance.

The full implication of the debt profile was yet to be fully unveiled.

The operatives went on to paste restraining court orders issued by the Kogi State High Court, for alleged non-payment of tax.

Bewildered customers who were caught unawares were made to vacate the premises as the operatives shut all the entrances, leaving security details to ensure full compliance.

UBA, two others announce their closed period ahead of Q3 financial result 

In related news, several companies are beginning to announce their close periods as they prepare to release their financial statements for the third quarter ended September 30, 2019.

These companies have also disclosed the dates of the meetings of their boards of directors. 

eTranzact International Plc and United Capital Plc disclosed their close periods.

Three other companies have followed in their footsteps.

This online news medium can confirm this development in the statement each of the companies sent to the Nigerian Stock Exchange (NSE).

The following are companies that recently made the announcement. 

Seplat Petroleum Development Company: In a statement sent to the NSE, the oil and gas company said, “Pursuant to Clause 17.2 of the Amendments to the Listings Rules (the “Rules”) of the Nigerian Stock Exchange (the “Exchange”) and in the run-up to the announcement of SEPLAT’s Third Quarter 2019 Financial Results, please note that the Company shall commence its closed period from Tuesday, 1st October 2019 to end on Wednesday, 30th October 2019 and 24 hours after the release of its financial results.

Accordingly, no Director, employee, person discharging managerial responsibility, adviser(s) of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.” 

Cornerstone Insurance Plc: According to Cornerstone Insurance, “the Board of Directors of Cornerstone lnsurance PLC will hold on Wednesday. October 23, 2019, at Cornerstone Complex, 21, Water Corporation Drive, Off Ligali Ayorinde Street. Victoria Island, Lagos at 10.00 am to consider the Company’s Financial Statements for the Third Quarter, ended September 30, 2019. 

“Accordingly, in line with the provisions of Rule 15.1 and 17.2 of the Amendment To The Listing Rules and L7.17 of the Rule Book of the Nigerian Stock Exchange (NSE) and which has been incorporated into Sections 5 and 6 of the Company’s Securities Trading Policy, all Directors, Persons discharging managerial responsibility, Adviser(s) of the Company or their connected persons shall not trade in the Company’s shares from October 8th, 2019 until 24 hours after the release of the Company’s Financial Statements to the NSE and the general public.” 

United Bank for Africa (UBA): This institution has also revealed when it would be having its Board of Directors’ meeting ahead of the release of Q3 financial statements.

In its notification to NSE, the bank said, “The Board of Directors of United Bank for Africa Plc is scheduled to meet in Abuja at 10:00 AM on Friday, October 18, 2019, to consider, amongst other matters, the Group Unaudited Accounts and Financial Statements for the Third Quarter ended September 30, 2019. 

 “In compliance with the post-listing requirements of the Nigerian Stock Exchange for quoted companies, United Bank for Africa Plc hereby declares the commencement of the closed period for trading in the Bank’s shares from Wednesday, October 2, 2019in respect of the Group Unaudited Accounts and Financial Statements for the Third Quarter ended September 30, 2019.

Accordingly, no Director, person discharging managerial responsibility, employee with sensitive information, adviser, and consultant of the Bank and their connected persons may directly or indirectly deal in the Securities (Shares and Bonds) of the Bank until 24 hours after the release of the Group Unaudited Accounts and Financial Statements for the Third Quarter ended September 30, 2019 to the Nigerian Stock Exchange,” UBA said in its statement to NSE


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Ridwan is a trained communicator who specialises in football and squash. He has been published by African Examiner. He provides professional coverage of general news, politics and sports, and has interviewed some of the biggest names in the field - including the first Nigerian interview with South Africa's no. 1 male squash player, Jean-Pierre Brits. He is a proud Nigerian and campaigner for #NigeriaIsOurs.


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