FCCPC warns firms against merger non-compliance

Abdullateef Fowewe

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a warning on Tuesday to firms, legal advisers, and stakeholders against violating merger and acquisition rules under the Federal Competition and Consumer Protection Act (FCCPA) 2018.

The FCCPC stressed its authority to “review, approve, approve subject to conditions, or prohibit mergers and qualifying business combinations once they are notified.”

It aims to “preserve fair competition, prevent harmful market concentration, and protect the public interest in the Nigerian economy.”

Transactions hitting thresholds in the Merger Notification Notice must be pre-approved, covering share acquisitions, asset deals, joint ventures, and more.

Failure to notify risks “administrative penalties or other enforcement action.”

The Commission urged early engagement for “regulatory clarity” and efficient reviews, reaffirming its commitment to “promoting fair competition, protecting consumers, and supporting a transparent, efficient and competitive business environment in Nigeria.”