Digital commerce posing fresh challenge to regulators, judiciary – FCCPC

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, has admitted that modern market dynamics is posing fresh challenges for regulators and judiciary, hence the need to restrategise to ensure efficient regulation. Bello stated this in Abuja on Tuesday during his introductory remarks at a […]

The Executive Vice Chairman and Chief Executive Officer of the Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, has admitted that modern market dynamics is posing fresh challenges for regulators and judiciary, hence the need to restrategise to ensure efficient regulation.

Bello stated this in Abuja on Tuesday during his introductory remarks at a collaborative judicial training programme organised by the FCCPC in partnership with the National Judicial Institute (NJI) for judges and sector regulators.

Bello explained that the legal foundation for competition regulation in Nigeria is the Federal Competition and Consumer Protection Act (FCCPA) 2018, which established the FCCPC as the country’s primary authority for promoting fair competition and protecting consumer welfare.

Bello also highlighted the changing dynamics of modern markets, noting that technological innovation, digital commerce and cross-border transactions are creating new challenges for regulators and the judiciary.

 

 

 

“Modern markets operate in a rapidly changing environment. Technological innovation, digital commerce, cross-border transactions and increasingly complex corporate structures continue to reshape how markets function,” he said.

 

 

 

“These developments raise new legal and economic questions relating to market dominance, restrictive agreements, price fixing, unfair trade practices and the protection of consumer rights,” he added.

 

 

 

He noted that in recent years regulators and courts in Nigeria have encountered a growing number of disputes arising from evolving market practices across different sectors of the economy.

 

 

 

According to him, many of these cases involve complex factual records, economic evidence and questions concerning the interaction between general competition law and sector-specific regulatory frameworks.

 

 

 

As a result, Bello said judicial interpretation will play an increasingly important role in shaping the evolving legal framework governing market conduct and consumer protection in the country.

 

 

 

Also in her remarks, the Chief Justice of the Federation, Justice Kudirat Kekere-Ekun noted that the training will arm judges with better understanding of the working of the FCCPA as well as intepretation of the law as it relates to consumer protection.