The Federal Competition and Consumer Protection Commission (FCCPC) on Monday, kick started investigation into allegations of potential infringements of the Federal Competition and Consumer Protection Act 2018 (FCCPA) by five companies operating in the country’s shipping and freight forwarding industry.
Executive Vice Chairman/Chief Executive Officer of the Commission, Babatunde Irukera said the Commission executed a judicial search warrant and order of the Federal High Court to search and gather information and evidence in furtherance of an open and active investigation of potential infringements of the Federal Competition & Consumer Protection Act 2018 (FCCPA), on five (5) companies within the shipping and freight forwarding industry.
He said prior to the execution of the search warrant and order of the court, the Commission had gathered credible and actionable intelligence sufficient to establish probable cause and reasonable basis for the court to issue a warrant and enter an order permitting executives and operatives of the Commission to conduct a search of the companies named in the warrant and order.
He explained that information gathered by the Commission revealed that the five companies identified in the warrant, as well as others who were neither subject of the warrant have participated in anti-competitive conduct that distorts the market in Nigeria, stating that their activities prevented fair competition, and led to high freight rates in the country.
He said: “The targets of the execution of the search warrant were largely cooperative with minimal exceptions, which exceptions included, physically and verbally assaulting officials and authorized persons of the Commission, as well as resisting, delaying, impeding or obstructing the investigatory process in violation of law.” According to him, the exceptions are currently being processed for further criminal and other judicial procedures in accordance with the FCCPA and extant criminal procedure laws.
“These are the early stages of the investigation, and the Commission expects it will gather more information from operatives of the current targets in accordance with the Federal Competition and Consumer Protection Act, and expand to other companies in the same industry where required,” he added.
He called on patriotic Nigerians who have helpful information, complaints, or are aware of illegal and suspicious conduct with respect to services, rates or activities within the industry to provide same to the Commission, assuring that sources will be kept anonymous.
The Commission encouraged other companies in the industry to take advantage of leniency provisions in the FCCPA to immediately engage before they become specific targets.
Irukera said: “Persons wishing to provide information, or whistle-blow may send same to, or contact the Commission at shippingintel@fccpc.gov.ng, adding that companies interested in entering into the leniency program of the Commission may formally approach the Commission through the Surveillance and Enforcement Department of the Commission.
