Section 108 Federal Competition and Consumer Protection Act 2018

Section 108 of the Federal Competition and Consumer Protection Act 2018 is about Conspiracy. It is under Part XIV (Specific Offences Against Competition) of the Act.

(1) An undertaking shall not conspire, combine, agree or arrange with another undertaking to –
(a) limit unduly the facilities for transporting, producing, manufacturing, storing or dealing in or supplying any goods or services;

(b) prevent, limit or reduce unduly, the manufacture or production of any goods or services or to unreasonably enhance the price of any goods or services;

(c) unduly reduce competition in the production, manufacture, purchase, barter, sale, supply, rental or transportation of any goods or services or in the price of personal or property insurance; or

(d) otherwise unduly restrain or injure competition.

(2) Nothing in subsection (1) applies to a conspiracy, combination, agreement or arrangement which relates only to a service and to standards of competence and integrity that are reasonably necessary for the protection of the public-
(a) in the practice of a trade or profession relating to the service; or
(b) in the collection and dissemination of information relating to the service.

(3) An undertaking that violates any provision of this section commits an offence and where the undertaking is-
(a) a natural person, is liable on conviction to imprisonment for a term not exceeding three years, or to payment of a fine not exceeding W10,000,000.00 or to both fine and imprisonment;

(b) a body corporate, is liable on conviction to a fine not exceeding 10% of its turnover in the preceding business year; and
(c) a body corporate referred to in paragraph (b), each director of the body corporate is liable to be proceeded against and on conviction dealt with as specified in paragraph (a).