The Securities and Exchange Commission (SEC) Nigeria has issued a press release to clarify its position regarding the recent First Holdco Transaction.

According to the Commission, it granted a “no objection” to the transaction after due consideration and in full compliance with applicable requirements.

The SEC emphasized that its correspondence with the operators involved was not a query, but rather an automated compliance mechanism designed to promote transparency and ensure proper conclusion of large transactions within the market.

The Commission assured the public of its commitment to regulating a fair, orderly, and efficient market, protecting investors, and fostering capital formation in Nigeria.

In the press release, the SEC Head of External Relations, Efe Ebelo, stated that the Commission’s actions were in line with extant laws and regulations, and that there was no subsequent request for additional information from the Central Bank of Nigeria (CBN) following the conclusion of the transaction.