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SEC to partner foreign experts on mergers and acquisitions

SEC DG, Mounir Gwarzo

The Nigerian business community is positioning to be reckoned with in mergers and acquisitions as the Securities and Exchange Commission (SEC) has expressed its readiness to cooperate with global agencies to ensure sustainable growth of Mergers and Acquisitions (M&A) in the country.

Mounir Gwarzo, Director General of SEC, revealed this when a delegation of experts in Mergers and Acquisitions from the United States of America and South Africa led by Molly Askin paid him a visit in Abuja, Tuesday.

Gwarzo stated that transactions in Mergers and Acquisitions are growing in the country and there is need for proper training to ensure that the tempo of growth is sustained and commended the team for their interest in assisting Nigeria in the area of capacity building.

He said “Currently we are reviewing our laws to ensure that the areas that need to be strengthened are given attention for the overall benefit of the market.

“Some companies have been escaping our radar due to capacity deficiency in Mergers and Acquisition, but with the various trainings we have received, we have been able to perform better and this has led to an increase in mergers in the last four years.

Leader of the group, Molly Askin of the Federal Trade Commission, United States of America, expressed the need for the country to have an effective completion law regime in place that would be consistent with what is obtainable in other jurisdictions.

Askin expressed the willingness of her team to assist in reviewing relevant laws that affect competition and consumer protection in the country.

“Thank you for welcoming us and we will be able to go through Mergers and Acquisitions with Nigerians.

“We are happy to assist review whatever bills that are in the offing, we are committed to coming here to do our part in assisting to impact knowledge in that area”. She added.

 

 

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