Notice on the Passage of the Federal Competition and Consumer Protection Act

On Tuesday, February 5, 2019, President Muhammadu Buhari signed the Federal Competition and Consumer Protection Act into law.

The Law which seeks to, among other things, provide for the establishment of the Federal Competition and Consumer Protection Commission and the Competition and Consumer Protection Tribunal, also repeals the sections 118, 119, 120, 121 (excluding S. 121(i) (d)), 122, 123, 124, 125, 126, 127 and 128 of the Investments and Securities Act, 2007.

The Commission notes that there is a transitional period of three (3) months for the new Commission established pursuant to the Act to become operational. For more information on what this means for all mergers, acquisitions, and business combination transactions, please click here for FAQs

Signed: Management