The Securities and Exchange Commission (SEC) has clarified its role and actions concerning the recent First Holdco Transaction.
It said the “no objection” approval given to the transaction was fully compliant with all existing laws and SEC regulations, following thorough due diligence..
In a statement signed by Efe Ebelo, Head of External Relations at SEC Nigeria on Thursday, SEC emphasized that there was no additional request for information from the Central Bank of Nigeria (CBN) after the transaction was finalized.
It also clarified that its communications with the involved parties should not be mistaken for formal queries but were part of an automated compliance process aimed at transparency and ensuring proper completion of significant market transactions.
It reiterated the Commission’s dedication to regulating a fair, orderly, and efficient capital market that protects investors and supports the growth of the Nigerian economy.
