Oando to Delay Audited Financial Results for 2025, Q1
Oando Plc has told the Nigerian Exchange and its shareholders that the group will not be able to publish its 2025 Audited Financial Statements by the regulatory deadline of March 31, 2026.
In its disclosure, the indigenous energy company said it expects to complete and file the 2025 audited results on or before May 30, 2026.
The delay is principally due to the ongoing migration and integration of the Company’s legacy Enterprise Resource Planning (ERP) systems, which were inherited as part of its recent acquisition of Nigerian Agip Oil Company Limited (NAOC), Oando said.
”This system integration process has necessitated extensive testing, alignment of accounting policies, harmonisation of reporting frameworks, and comprehensive mapping and consolidation of charts of accounts to ensure consistency, accuracy, and compliance with applicable financial reporting standards.
“We do not expect the delay to exceed forty-five (45) days from the original filing deadline, after which the 2025 AFS will be presented to the Board for approval and subsequently submitted to the Financial Reporting Council of Nigeria (FRC) for regulatory clearance prior to public release.
“As we will be unable to file the Unaudited Financial Statements for the quarter ended 30 March 2026 (2026 Q1 UFS) prior to the publication of the 2025 AFS, we expect that both the 2026 Q1 UFS and the 2025 AFS will be filed on or before 30 May 2026”. Oando explained. MTN Nigeria Sheds N420bn as Investors Take Profit
