Section 69 Federal Competition and Consumer Protection Act 2018

Section 69 of the Federal Competition and Consumer Protection Act 2018 is about Offences and penalties under this Part. It is under Part VIII (Restrictive Agreements) of the Act.

(1) An undertaking that makes or enters into an agreement or decision declared unlawful under this Part commits an offence and is liable on conviction where the undertaking is-

(a) a natural person, to imprisonment not exceeding a term of five years, or to a fine not exceeding N5,000-,060.00 or both the fine and imprisonment; and

(b) a body corporate, to a fine not exceeding 10% of its turnover in the preceding business year.

(2) Where the offence is committed by a body corporate, each director of the body corporate shall be liable to be proceeded against and on conviction dealt with as specified in subsection (1) (a).

(3) An undertaking that fails to obey an order served by the Commission under subsection (1) of section 67 (1) of this Act commits an offence and where the undertaking is-

(a) a natural person, it is liable on conviction to imprisonment for a term not exceeding three years, or to payment of a fine not exceeding NSO,OOO,OOO.OO or both the fine and imprisonment; or
(b) a body corporate, it is liable on conviction to a fine not exceeding 10% of its turnover in the preceding business year.

(4) Where the offence is committed by a body corporate, each director of the body corporate shall be liable to be proceeded against and on conviction dealt with as specified in subsection (1) (a).