First HOLDCO Transaction: “We gave Approval”- SEC
The Securities and Exchange Commission (SEC) Nigeria says it granted approval to First Holdco Transaction
after due consideration and in full compliance with applicable requirements.
In a statement by the Head of External Relations of SEC, Mrs Efe Ebelo and made available to Business Africa Digest in Abuja, the Commission said It had “no objection” to the transaction since 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 statement said.
The Commission said it remains firmly committed to its mandate of regulating a fair, orderly, and efficient market; protecting investors; and fostering capital formation in Nigeria.
