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Penalty for late submission of financial accounts should be stiffer – Experts

With only seven days to the end of the year, some insurance companies are still foot dragging in submitting their 2012 financial results to the National Insurance Commission, NAICOM, because the penalty for late submission of results is mild, experts have said. Accordingly, there should be stiffer sanctions meted out to companies for submitting their financial results late, according to experts.

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