Nigeria’s capital market regulator has declared that the recent First Holdco transaction met all necessary regulatory standards and raised no red flags during the approval process.
In a statement made available to the media, the Securities and Exchange Commission (SEC) clarified that it had issued a “no objection” to the transaction, confirming that the deal complied with market rules and passed due diligence checks.
The commission also addressed speculations about a possible query being sent to the parties involved. It explained that what was mistaken for a query was actually part of its automated monitoring system, a routine practice aimed at enhancing accountability in major market operations.
While not giving specific transaction figures or naming individuals, the SEC reaffirmed its commitment to maintaining fairness and order in Nigeria’s capital markets, while protecting investors and ensuring confidence in high-value transactions.
