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The Federal Competition and Consumer Protection Commission (FCCPC) has warned companies, lawyers and deal advisers to comply with mergers and acquisitions regulations before completing qualifying transactions in Nigeria.
The commission said businesses must seek approval where a merger or acquisition meets the thresholds set under the Federal Competition and Consumer Protection Act (FCCPA) 2018.
According to the FCCPC, the law gives it power to review transactions, approve them with or without conditions, or block them where necessary.
It said the requirement covers several forms of business combinations. These include share purchases, asset acquisitions, joint ventures and other arrangements that fall within the legal definition of a merger.
The commission explained that prior notification allows it to examine whether a proposed deal could weaken competition in any market in Nigeria or create public interest issues.
It added that the process also helps regulators track market developments and understand how competition is changing across industries.
The FCCPC urged businesses and their advisers to approach the commission early if a planned transaction may require notification.
It said early engagement, including pre-notification consultations where needed, can give parties more certainty, speed up reviews and help them meet legal obligations.
The regulator also issued a warning on non-compliance.
“The FCCPC emphasises that failure to notify a notifiable transaction constitutes a contravention of the FCCPA and shall attract stiff penalties and other enforcement actions.”
It advised parties to take all necessary steps before implementing transactions that fall within its jurisdiction.
The commission asked stakeholders seeking clarification on the mergers and acquisitions regulations to contact the FCCPC or visit its website.
It added that it is fully committed to promoting fair competition, protecting consumers and supporting a transparent business environment in Nigeria.
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