The following Competition guidance note Produced in partnership with Bowmans provides comprehensive and up to date legal information covering:
A conversation with Tamara Dini, partner, Shakti Wood, senior associate, and Odie Strydom, knowledge consultant at regional law firm Bowmans, on key issues on merger control in Nigeria.
NOTE–to see whether notification thresholds in Nigeria and throughout the world are met, see Where to Notify.
NOTE–this guide is being updated to reflect the provisions of the new regime following the announcement of new notification thresholds.
In February 2019, Presidential assent was given to the new Federal Competition and Consumer Protection Act of 2019 (FCCP Act); this follows approval by the Nigerian Parliament in December 2018.
The FCCP Act introduces a new competition law regime, including the establishment of a new competition authority, the Federal Competition and Consumer Protection Commission (FCCPC). In relation to merger control, the provisions of the FCCP Act include:
new notification thresholds
joint ventures will be caught
there will be both de facto and de jure forms of control
the maximum fine for failure to file notifiable transactions will be 10% of turnover.
The new merger control regime became active once the notification thresholds were set by the FCCPC. The new thresholds, which were announced
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