Merger control by Securities and Exchange Commission: A Comparative analysis of Investments and Securities Acts 1999 and 2007

I. Introduction

THE month of June 2007 marked yet another significant point in the juridical development of the Nigerian capital market, with the enactment of a new Investments and Securities Act (ISA) to replace the pre-existing 1999 Act. The passage of the new ISA was the culmination of a long process of consultation starting with the inauguration of a panel of capital market experts under the Chairmanship of the House of Representatives' Capital Market Committee Chairman, Honourable Ahmed Aliyu Wadada, which panel's findings and recommendations later resulted in the ISA 2007.