The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned companies, legal advisers, and transaction parties to comply with Nigeria’s merger and acquisition laws.
FCCPC Enforcement Warning
In a statement, the Director of Corporate Affairs, Ondaje Ijagwu, issued, the Commission stressed compliance with the FCCPA 2018, which regulates mergers in Nigeria.
The FCCPC issued the warning to strengthen compliance and ensure due process.
It reaffirmed authority to assess mergers.
It can approve, approve with conditions, or block transactions.
Furthermore, the Commission said the framework protects fair competition, prevents market concentration, and safeguards public interest.
It also stated that companies must submit transactions meeting merger thresholds for review before implementation under Section 93(4).
This applies to share purchases, asset acquisitions, joint ventures, and other recognised business combinations.
In addition, the FCCPC said its review process checks if deals reduce competition or raise concerns.
It encouraged companies and advisers to engage early during negotiations, especially when approval may be required.
To support compliance, the Commission said early engagement improves clarity, reduces delays, and strengthens regulatory alignment.
However, it warned that failure to notify qualifying transactions violates the law.
It may attract penalties or enforcement action.
Therefore, it urged companies to submit all notifications before completing any transaction.
Early Engagement And Compliance
The FCCPC encouraged early engagement during deal structuring.
It said pre-notification consultations improve compliance outcomes.
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It added that early discussions help reduce delays and improve regulatory clarity.
This supports smoother transaction reviews.
However, it warned that non-compliance attracts penalties and enforcement actions.
Companies must notify all qualifying deals.
Rising M&A Activity In Nigeria
Merger and acquisition activity continues rising across Nigeria’s tech and financial sectors.
Flutterwave acquired Mono in a $25–$40 million all-stock deal.
It aims to strengthen financial infrastructure.
Similarly, Paystack acquired Ladder Microfinance Bank.
It expands services beyond payments.
Moniepoint acquired Orda.
It deepens its food and retail ecosystem presence.
Trove Finance acquired UCML Securities Limited.
It secured a brokerage licence for direct trade execution.
Andela acquired Woven.
It expands its global engineering and talent network.
Legend Internet Plc and Spectranet Limited announced a merger.
It targets an ISP with ₦80 billion capital base.
Zenith Bank completed acquisition of Kenya’s Paramount Bank.
Regulators in both countries approved the deal.
