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The Federal Competition and Consumer Protection Commission has issued a strong advisory to companies, legal practitioners, and transaction advisers, urging strict compliance with merger and acquisition regulations before concluding qualifying deals in Nigeria.
The commission reiterated that businesses must obtain prior approval for transactions that meet the thresholds outlined in the Federal Competition and Consumer Protection Act 2018, which empowers the regulator to assess, approve (with or without conditions), or reject mergers where necessary.
According to the FCCPC, the requirement applies broadly to various forms of business combinations, including share acquisitions, asset purchases, joint ventures, and other arrangements that fall within the legal definition of a merger.
The regulator emphasised that prior notification is critical to enabling a thorough review of proposed transactions, particularly to assess potential risks to market competition or broader public interest concerns. It also supports the commission’s ability to monitor evolving market dynamics across sectors.
To streamline the process, the FCCPC encouraged early engagement from parties involved in potential transactions. It noted that pre-notification consultations can improve regulatory clarity, accelerate review timelines, and help businesses meet compliance obligations more efficiently.
However, the commission issued a clear warning on enforcement, stressing that failure to notify qualifying transactions constitutes a breach of the law and could result in significant penalties and other regulatory actions.
Stakeholders seeking further guidance were advised to engage directly with the commission or consult its official resources.
The FCCPC reaffirmed its commitment to fostering fair competition, safeguarding consumer interests, and maintaining transparency within Nigeria’s business environment.
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