The Securities and Exchange Commission (SEC) granted a “no objection” to the N323.45 billion First Holdco off-market deal that occurred on July 16.
The regulator in a statement clarified its role in the deal, which is famous for being the largest on the NGX, following public speculation over the nature of its involvement.
In a statement released Thursday, the Commission stated it conducted a comprehensive review. This review was carried out in line with existing laws and regulatory requirements. The capital market regulator also emphasised that there were no subsequent requests for additional information. It added that the Central Bank of Nigeria (CBN) made no further inquiries after the transaction was finalised.
