Regulatory Alerts2019-02-08
Passage of the Federal Competition and Consumer Protection Act
President Muhammadu Buhari signed the Federal Competition and Consumer Protection Act into law on February 5, 2019. The legislation establishes the Federal Competition and Consumer Protection Commission alongside a dedicated tribunal while repealing sections 118 through 128 of the Investments and Securities Act, 2007. These structural and regulatory shifts directly govern all mergers, acquisitions, and business combination transactions.
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. For more information on what this means for all mergers, acquisitions, and business combination transactions, please click here for FAQs Signed: Management