The Securities and Exchange Commission (SEC) Nigeria wishes to clarify its position regarding the recent First Holdco Transaction.
In line with extant laws and SEC regulations, the Commission granted a “no objection” to the transaction after due consideration and in full compliance with applicable requirements. There was no subsequent request for additional information from the Central Bank of Nigeria (CBN) following the conclusion of the transaction.
It is important to note that the Commission’s correspondence with the operators involved was not a query. Rather, it was an automated compliance mechanism designed to promote transparency and ensure proper conclusion of large transactions within the market.
The SEC remains firmly committed to its mandate of regulating a fair, orderly and efficient market; protecting investors and fostering capital formation in Nigeria.
Signed
Efe Ebelo (Mrs.)
Head, External Relations
Securities and Exchange Commission, Nigeria
