SEC Enters Agreement With FCCPC To Simplify Merger Procedure

In a bid to simplify the process of company merger in Nigeria, the Securities and Exchange Commission (SEC) has partnered with the Federal Competition and Consumer Protection Commission (FCCPC).

According to a statement on Monday, the acting Director-General, SEC, Mary Uduk, signed a memorandum of understanding with the FCCPC in Abuja.

Uduk, while speaking at the ceremony, noted that the agreement would ultimately strengthen the nation’s economy.

“We are happy with the work the FCCPC has done so far. On our part, as apex regulator of the capital market, we are willing to provide them with any relevant assistance they will need to hit the ground running and improve our nation’s economy,” she said.

SEC Enters Agreement With FCCPC To Simplify Merger Procedure

She noted that the commission possessed the required capacity in the area of mergers and would be willing to share knowledge with the new organisation.

On his part, the Director-General, FCCPC, Babatunde Irukera, commended Uduk for the leadership being provided and the collaboration that had helped both organisations.

He said, “We would like to commend the way you have approached your work, especially the merger review. I think it has become exemplary to everyone and the rest of the country. The mode of leadership in the commission made it possible.

“The work between the two organisations has created a masterstroke and without SEC’s leadership, it would not have been possible,” he added.

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