Section 80 Federal Competition and Consumer Protection Act 2018

Section 80 of the Federal Competition and Consumer Protection Act 2018 is about Penalties for refusal to furnish information to the Commission. It is under Part X (Monopoly) of the Act.

(1) A person or body corporate who refuses or willfully neglects to furnish to the Commission information required under this Act commits an offence and is liable on conviction to a fine not exceeding N10,000,000.00.

(2) A person who furnishes information or makes a statement required by the Commission under this Act knowing that such statement is false in any material respect or recklessly makes a statement which is false in any material way, commits an offence and is liable on conviction to imprisonment for a term not exceeding two years or to a fine not exceeding N2,000,000.00 or to both the fine and imprisonment.