1 Relevant Authorities and
Legislation
1.1 Who is/are the relevant merger authority(ies)?
The apex regulatory institution in relation to merger control is
the Securities and Exchange Commission ("SEC"). SEC was
established by section 1 of the Investment and Securities Act 2007
("ISA") CAP I24 LFN 2004. SEC performs an all-pervasive
role in merger control in Nigeria. It receives pre-merger
notifications, formal applications and gives approvals before any
merger can be completed. It also ensures that all post-merger
requirements are met.
The Corporate Affairs Commission ("CAC") established
by the Companies and Allied Matters Act 1990 ("CAMA") CAP
C20 LFN 2004 also has a part to play with respect to corporations
that intend to merge. It is its responsibility to receive corporate
filings and to certify corporate resolutions and de-registration of
any dissolved companies that may occur in the merger process.
