SEC Not Opposed To First Holdco Transaction

The Securities and Exchange Commission (SEC), has clarified its position regarding the recent First Holdco Transaction, confirming that the Commission granted a “no objection” to the transaction after due consideration and in full compliance with applicable requirements.

The Commission notes 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.” it added.