The Federal Competition and Consumer Protection Commission (FCCPC) says it engaged in ground breaking, unprecedented anti-competitive investigations and enforcement in major industries involving multi-nationals in 2021.
The Chief Executive Officer of FCCPC, Mr Babatunde Irukera, told the News Agency of Nigeria (NAN) in Abuja on Sunday, that the investigations were more than what the commission did previous years.
Irukera listed the sectors where the investigations were conducted as the indigenous and foreign oil industries, shipping and freight forwarding and medical practice.
“In reality, in 2021, we engaged in both investigation and enforcement in excess of what we did in 2020.
“We have engaged in ground breaking, unprecedented anti-competitive investigations in major industries involving multi-nationals in this year.
“In the competition investigation space, a major oil company that engaged in anti-competition was investigated and subject to significant penalty,’’.
On the 2021 achievements of the FCCPC, he said that the commission clinched a reasonable scorecard for fair assessment but had yet to meet the individual target on how to affect industry, promote fairer market place, better consideration and responsiveness to consumers.
Irukera said that an interagency multi-ministerial joint task force that included FCCPC and the Central Bank of Nigeria (CBN) opened a large investigation into the activities of money lenders.
Other agencies involved in the task force are the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and Other Related Offences Commission (ICPC), National Human Rights Commission (NHRC) among others.
The chief executive officer said the commission would in the coming years redouble its efforts toward making the country a better place for consumers and make companies accountable to the people who pay for their services.