SEC Enters Agreement With FCCPC, See Why

The Securities and Exchange Commission (SEC) has partnered with the Federal Competition and Consumer Protection Commission (FCCPC).

YaahooJournalist reports that the SEC entered into a partnership with FCCPC in a bid to simplify the process of company merger in Nigeria.

A statement issued on Monday, September 9, revealed that Mary Uduk, SEC Acting Director-General, signed a memorandum of understanding with the FCCPC in Abuja.

Speaking at the ceremony, the SEC Acting Director-General, said the agreement would ultimately strengthen the nation’s economy.

Her words: “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.

The SEC Acting Director-General 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, Babatunde Irukera, FCCPC Director-General, commended the SEC Acting Director-General for the leadership being provided and the collaboration that had helped both organisations.

The FCCPC Director-General 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.