Sterling Financial Holdings Company Plc experienced a significant decline in market value on Monday, shedding approximately 6% amid high trading volume and regulatory compliance concerns tied to delayed financial disclosures.

According to trading data from the Nigerian Exchange Limited (NGX), the company’s share price dropped to ₦5.70, as 14.43 million units valued at ₦84.06 million were exchanged. The bearish sentiment pulled the company’s market capitalization down to ₦259.11 billion, based on its 45.46 billion outstanding shares.

This latest dip positions Sterling Holdings at over 11% below its 52-week high, reflecting investor unease over missed regulatory timelines.

In a notice issued in March 2025, Sterling Holdings informed stakeholders and the NGX that its Board of Directors would convene on Friday, April 25, 2025, to review the unaudited financial statements for Q1 2025. The company also noted that its closed period, which began on January 1, 2025, would remain in effect until 24 hours after the release of both its audited results for FY 2024 and unaudited Q1 2025 statements.

However, as of May 12, 2025, the company has failed to publish either report, trailing behind peer institutions in meeting disclosure obligations. This regulatory lapse prompted the NGX to flag Sterling Holdings with an MRF (Missed Regulatory Filing) designation—a compliance status that often attracts regulatory scrutiny and potential sanctions.

The situation underscores the critical importance of timely financial reporting in maintaining market confidence and adhering to corporate governance standards. Delays in statutory disclosures not only erode investor trust but can also lead to reputational damage and financial penalties, especially within a regulatory environment that is increasingly focused on transparency, risk management, and investor protection.