SEC Nigeria First Holdco clarification confirms it approved the transaction without breaches, reinforcing regulatory transparency and investor confidence

The SEC Nigeria First Holdco clarification has put to rest public concerns over the Commission’s role in the recently concluded transaction.

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The Securities and Exchange Commission confirmed it had granted a “no objection” after a detailed review aligned with legal and regulatory standards.

In an official statement signed by Efe Ebelo, Head of External Relations, the Commission stressed that all conditions were fulfilled before approval was issued.

The SEC dismissed claims of pending regulatory queries from the Central Bank of Nigeria, noting no additional requests followed after the transaction’s completion.

The SEC explained that its recent communication to involved parties was not an enforcement action but a routine part of its automated post-transaction compliance system.

The purpose, it said, was to enhance transparency and ensure all large-scale transactions are properly recorded.

“This system strengthens confidence in the capital market by maintaining a clear trail of completed deals,” said the Commission.

The regulator reiterated its commitment to fostering a fair, orderly and efficient market while prioritising investor protection.

It assured stakeholders that it applies its processes impartially and without bias.

Meanwhile, the Nigerian stock market continues to gain momentum.

Market capitalisation rose to ₦84.263 trillion as the all-share index closed at 133,200.00 points, up 642.57 points or 0.48 per cent.

Investor sentiment remained strong. Medium and large capitalised stocks like Guinness Nigeria, Oando and Nigerian Exchange Group led the gains.

Market breadth showed 46 gainers to 33 losers, with top performers including Academy Press and FTN Cocoa Processors, both up by 10 per cent.

Daily trading volume surged by 20.1 per cent to 818.387 million units worth ₦22.665 billion. Japaul Gold & Ventures led the activity chart, followed by UBA and Access Holdings.

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As earnings season advances, analysts at Afrinvest Limited predict the market will maintain its positive trajectory.