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The Nigerian Stock Exchange (NSE) has announced the suspension of trading in the shares of Unity Bank Plc and five other companies listed on the Nigerian bourse.

According to the notice published on the NSE’s website on Thursday, the six companies were suspended for failing to submit their financial statements as at when due. This contravenes rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange.

“The suspension will only be lifted upon submission of the relevant accounts and provided the NSE is satisfied that the accounts comply with all applicable rules of the NSE,” said Godstime Iwenekhai, Head of Listings Regulation Department at the NSE.

The other suspended stocks are for Fortis Microfinance Bank Plc, Thomas Wyatt Nigeria Plc, Multi-Trex Integrated Foods Plc, Golden Guinea Breweries Plc, and Deap Capital Management & Trust Plc.

As a result of this suspension, investors that own shares of these companies will not be able to trade them till the suspension is lifted. The companies will also be fined for late submission of results.