Merger Control 2015

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.