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The Securities and Exchange Commission (SEC) Nigeria has clarified its position regarding the recent First Holdco Transaction.
The clarification is contained in a statement signed by the
Head External Relations,
Securities and Exchange Commission, Nigeria, Mrs Efe Ebelo and made available to journalists today.
Ebelo explained that 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.
She also clarified in the statement that there was no subsequent request for additional information from the Central Bank of Nigeria (CBN) following the conclusion of the transaction.
She stated that 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.
SEC, she said remains firmly committed to its mandate of regulating a fair, orderly, and efficient market; protecting investors; and fostering capital formation in Nigeria.
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