Application of The FCCPA
On Monday, October 18th 2021, the Commission executed a judicialsearch warrant and order of the Federal High Court to search andgather information/evidence in furtherance of an open and activeinvestigation of potential infringements of the Federal Competition& Consumer Protection Act 2018 (FCCPA) on five (5) companieswithin the shipping and freight.
Conclusion
Since the FCCPC was passed into law in January 2019, theregulatory landscape of Nigeria's competition and consumerprotection regime has been greatly improved.
Citizens have moreconfidence in demanding respect for their rights and the Commissionhas been very responsive in instilling and enforcing consumers'rights and stabilizing competition in the N.
Does the new Competition Act apply to all businesses in Nigeria?
However, the new Act applies to all businesses in Nigeria and supersedes all laws on competition and consumer protection, except the Constitution of the Federal Republic of Nigeria 1999.
Introduction
Consumer protection is the practice of safeguarding buyers ofgoods and services, and the public, against unfair practices in themarketplace.2 Consumer protection laws are designed toprotect and promote consumer interest.
Competition rules in Nigeriaare made to promote healthy competition in Nigerian markets at alllevels, by eliminating monopolies, .
Is the competition and Consumer Protection Commission a law in Nigeria?
On 5 February 2019, the President of Nigeria, Muhammadu Buhari, assented to the new Federal Competition and Consumer Protection Commission Bill, 2018.
Thus, the bill became a law of the Federal Republic of Nigeria and binding on entities and organizations so specified in the Act.
Legislative Provisions Governing Consumer Protection inNigeria
The principal legislation which regulates and protects therights of consumers in Nigeria is the Federal Competition andConsumer Protection Act, 2018 ("FCCPA") ("theAct"). 4 The FCCPA established the FederalCompetition and Consumer Protection Commission ("FCCPC")("the Commission")5to protect the interestsand welfare of consumers by providing consume.
Powers of The Fccpc28
The Commission is empowered to:.
1) Prevent the circulation of goods or services which constitute apublic hazard or an imminent public hazard;.
2) Compel manufacturers, suppliers, dealers, importers,wholesalers, retailers, providers of services and otherundertakings to;.
3) Comply with the provisions of this Act;.
4) Certify that all standards are met .
Regulatory Agencies in Charge of Consumer Protection
The Federal Competition and Consumer Protection Commission("FCCPC") is the apex consumer protection agency inNigeria.
The FCCPC was established by the FCCPA to administer andenforce the provisions of the FCCPA.
The Competition and Consumer Protection Tribunal("CCPT")23 is the adjudicatory authority fordetermination of matters arising from the opera.
What is the competition law in India?
India started with the MRTP Act, 1969 but soon realized the need for a new law to comply with its obligations to different conventions and trade agreements and major shortcomings of the said act and therefore, enacted the currently active Competition Act, 2002 which introduced a new competition regime and repealed the old Act.
