SEC Approves 11 Mergers and Acquisitions Worth ₦320 Billion in 2024
Deal News | May 25, 2025 | EIN
The Securities and Exchange Commission (SEC) of Nigeria approved 11 mergers and acquisitions in 2024 with a combined value of ₦320.36 billion, as announced by SEC Director-General Dr. Emomotimi Agama. Companies listed on the Nigerian Exchange Ltd. declared dividends totalling ₦1.1 trillion in 2024, indicating improved market confidence. The SEC also reported approving proposed new capital worth ₦3.68 trillion in 2024, with ₦59.82 billion in fixed income securities and ₦3.62 trillion in equities. For the initial months of 2025, ₦446.38 billion in new issues have been approved. Highlights of approved transactions include the acquisition of a 58.02% stake in Guinness Nigeria Plc by N Seven Nigeria Ltd. valued over ₦103.7 billion, and corporate restructurings such as a scheme of arrangement involving Flour Mills of Nigeria Plc, valued at over ₦105 billion. Additionally, mutual funds and privately managed portfolios have shown growth, having net asset values of ₦3.84 trillion and ₦4.69 trillion respectively, by the end of 2024.
Sectors
- Financial Services
- Asset Management
- Capital Markets
Geography
- Nigeria – The article is centered on financial and corporate events affecting the Nigerian market and its governing financial bodies.
Industry
- Financial Services – The article discusses transactions and approvals related to mergers, acquisitions, and capital markets, which fall under the financial services sector.
- Asset Management – The growing number of mutual funds and privately managed portfolios highlights the importance of asset management in the context of the article and the wider market.
- Capital Markets – The significant activity in equities and fixed income issues demonstrates robust capital market involvement.
Financials
- ₦320.36 billion – Combined value of 11 mergers and acquisitions approved by the SEC in 2024.
- ₦1.1 trillion – Total dividends declared by companies listed on the Nigerian Exchange Ltd. in 2024.
- N103.7 billion – Value of the acquisition of a 58.02 percent equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd.
- ₦3.68 trillion – New capital raised through approved issues during 2024 as reported by the SEC.
- ₦446.38 billion – New issues approved by SEC in the first four months of 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Securities and Exchange Commission (SEC) Nigeria | Regulator | Government | The SEC is the regulatory authority overseeing capital market activities, including M&As, in Nigeria. |
| Dr. Emomotimi Agama | Director-General | People | Dr. Agama is the Director-General of the SEC, providing insight and reporting on market activities and approvals. |
| Guinness Nigeria Plc | Target Company | Company | Guinness Nigeria was involved in an acquisition where a majority equity stake was purchased. |
| N Seven Nigeria Ltd. | Bidding Company | Company | N Seven Nigeria Ltd. acquired a majority stake in Guinness Nigeria as part of the approved M&A transactions. |
| Flour Mills of Nigeria Plc | Other Company | Company | Involved in a corporate restructuring approved by the SEC. |
| Transnational Corporation Plc | Other Company | Company | Involved in share capital reconstruction approved by the SEC. |