SEC, FCCPC sign MoU to simplify companies’ mergers


The Securities and Exchange Commission, SEC, Wednesday, said it has signed a Memorandum of Understanding, MoU, with the Federal Competition and Consumer Protection Commission, FCCPC, to simplify the processes of mergers of companies in the country.

In a statement in Abuja, Acting Director General of SEC, Ms. Mary Uduk, said the Commission presently has capacity in the area of mergers and would be willing to share knowledge with the new organisation.

Uduk expressed  the need for both organisations to work together to ensure that there is no vacuum  in a bid to ensuring that the collaboration would lead to a more stronger economy for the country.

“We are happy with the work the FCCPC has done so far and on our part as the SEC, we are willing to provide you with any relevant assistance you would need to hit the ground running and improve our nation’s economy,” she said.

In his remarks, the Director General of  FCCPC, Mr. Babatunde Irukera, commended Uduk for the leadership SEC had provided and for the friendship and collaboration that has helped to bring both organisations this far. 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 and both internationally and domestically, and your mode of leadership made it possible.

“The work between the two organizations has created a master stroke and without your leadership it would not have been possible. “Not only has that helped this new institution to begin to get its bearing correctly it has also helped the investment community to see what the real possibilities are available in Nigeria”.

Credit: Vanguard.

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