These Regulations, implementing provisions of sections 17, 18 (1)(h) and 163 of the Federal Competition and Consumer Protection Act, 2018, concern the applicable principles relevant in the determination of administrative penalties pursuant to the Act; outline the methodology for calculation and determination of penalties in the process leading to the imposition of administrative penalties; clarify the process relating to administrative penalties including understanding, mitigating and or aggravating factors considered in determining administrative penalties; provide certainty and transparency in the method of determining administrative penalties. Matters covered by the Regulations are: application of methodology in imposing administrative penalties; aggravating and mitigating factors; procedures in imposing an administrative penalty; table of applicable base sums for computation of administrative penalties.
Nigeria · 2020-12-21