In line with the amended listing rule of the Nigerian Stock Exchange (NSE), the board of United Bank for Africa Plc, on Wednesday, notified the bourse of the Friday, January 11, 2017 closure date for its December 31, 2016 audited account for the year ended .
Consequently, according to the statement signed by Bili Odum, the group’s company secretary, “no director, person discharging managerial responsibility, employees with sensitive information, advisers and consultants of the bank and their connected persons may directly or indirectly deal in the securities (shares and bonds) of the bank until the 24 hours after release of the audited accounts and financial statements of the group for the period ended December 31, 2016 to the Nigerian Stock Exchange and by extension, the general public.”
The rule is part of corporate governance measures to check insider related dealing in the bank’s securities.