FCCPC Mandates Pre-Approval Notification For Mergers Exceeding Thresholds

The Federal Competition and Consumer Protection Commission (FCCPC) has mandated that all mergers and business combinations exceeding stipulated thresholds must obtain prior notification and approval before completion, warning that non-compliance will attract regulatory sanctions.

The Commission said the requirement is in line with the Federal Competition and Consumer Protection Act (FCCPA), 2018, which empowers it to review, approve (with or without conditions), or prohibit transactions that meet the notification thresholds issued under Section 93(4) of the Act.

In a statement signed by Eme Eyo David-Ojugo, Head of the Mergers and Acquisitions Department on behalf of the Commission,
the FCCPC noted that any the rules apply to a broad range of transactions, including share and asset acquisitions, mergers, joint ventures, and other forms of corporate combinations covered under the law and its regulations.

It explained that the notification process enables the Commission to assess whether proposed deals could substantially lessen competition, entrench market dominance, or raise public interest concerns capable of affecting consumers and the wider economy.

The FCCPC also stressed that the approval framework is central to maintaining market stability, ensuring fair competition, and preventing anti-competitive consolidation in key sectors of the Nigerian economy.
To enhance compliance and reduce delays, the Commission encouraged parties to engage in pre-notification consultations, describing them as a practical step for clarifying regulatory requirements before formal filings.

It warned that failure to notify qualifying transactions amounts to a violation of the FCCPA and may result in penalties, enforcement actions, or other regulatory consequences.

The Commission urged firms, legal advisers, and transaction stakeholders to verify compliance obligations early and ensure full adherence before concluding any merger-related agreements.

Reaffirming its regulatory mandate, the FCCPC said it remains committed to promoting fair competition, safeguarding consumer interests, and ensuring transparency across Nigeria’s business environment.