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A Q&A Guide To The Merger Control/ Notification Process In Nigeria

By Chidimma Iwunze and Taiwo Peregrino

1. What legislations apply to merger control in Nigeria?

The principal legislation regulating mergers, acquisitions and takeovers ("mergers") in Nigeria is the Federal Competition and Consumer Protection Act 2018 (including the regulations and guidelines made pursuant to it) ("FCCPA" or "Act"). In addition to this, there is the Companies and Allied Matters Act 2020, the Investment and Securities Act (ISA) 2007 as well as other sectoral legislations such as the Bank and Other Financial Institutions Act 2020, Insurance Act 2003, Nigerian Communication Act 2003, Electric Power Sector Reform Act 2005, among others.

In this piece, we have produced answers to some frequently asked questions in relation to notification and merger approval by the Federal Competition and Consumer Protection Commission (the "FCCPC" or "Commission") and the Securities and Exchange Commission (SEC).

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Authors

Chidimma Iwunze
Chidimma Iwunze Olajide Oyewole LLPNigeria
Taiwo Peregrino
Taiwo Peregrino Olajide Oyewole LLPNigeria