The Securities and Exchange Commission (SEC) has explained the circumstances surrounding the recent hugh shares transactions in First Holdco PLC.
A statement from the commission notes that in line with extant laws and SEC regulations, t granted a “no objection” to the transaction after due consideration and in full compliance with applicable requirements.
It further notes that there was no subsequent request for additional information from the Central Bank of Nigeria (CBN) following the conclusion of the transaction.

The Commission therefore explained that its 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.

Meanwhile, the statement signed by Head, External Relations of the commission assured that the SEC remains firmly committed to its mandate of regulating a fair, orderly, and efficient market; protecting investors; and fostering capital formation in Nigeria.
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