Section 90 Federal Competition and Consumer Protection Act 2018
Section 90 of the Federal Competition and Consumer Protection Act 2018 is about Regulated goods or services to be supplied in accordance with authorised prices. It is under Part XI (Price Regulation) of the Act.
(1) For the purpose of this Part, “regulated goods” or “regulated services” means goods or services in respect of which there is, for the time being in force, an order made under section 88 of this Act.
(2) Within a reasonable period after an order under section 88 of this Act is made, the Commission shall set and cause to be published an authorised price of the regulated goods or services that are the subject of the order.
(3) Following the publication of an authorised price by the Commission under subsection (2), an undertaking shall not supply the regulated goods or services in Nigeria other than for the authorised price.
(4) Any provision of an agreement in violation of the provisions subsection (3) is unenforceable.
(5) A person who violates any of the provisions of this Part commits an offence and is liable on conviction to a fine not exceeding N50,000,000.00.
(6) A body corporate that violates any of the provisions of this Part commits an offence and is liable on conviction to a fine not exceeding 10% of the turnover of the body corporate in the business year preceding the date of the
commission of the offence.
(7) Each director of the body corporate referred to in subsection ( 6) shall be liable to be proceeded against and on conviction dealt with as specified in subsection (5).
