The Federal Competition and Consumer Protection Commission, FCCPC, has warned firms, legal advisers, transaction parties and other stakeholders against non-compliance with statutory obligations relating to mergers, acquisitions and other business combinations under the Federal Competition and Consumer Protection Act, 2018.
The Commission reiterated that, under the FCCPA, it has the power to review, approve, approve subject to conditions, or prohibit mergers and qualifying business combinations once they are notified.
It explained that this framework is designed to preserve fair competition, prevent harmful market concentration, and protect the public interest in the Nigerian economy.
FCCPC noted that any transaction meeting the thresholds set out in the applicable Notice of Threshold for Merger Notification, issued pursuant to Section 93(4) of the FCCPA, must be notified to the Commission for prior review and approval before implementation.
