John Ameh and Ifeanyi OnubaPresident Muhammadu Buhari has given legal backing to the establishment of the Federal Competition and Consumer Protection Commission. His National Assembly Liaison Officer, Senator Ita Enang, said on Wednesday the legal backing came with the signing into law of the Federal Competition and Consumer Protection Bill by the President. The Act also established the Consumer Protection Tribunal to try offenders or those who would violate its provisions. “This law repeals the Consumer Protection Council Act and Sections 118 – 128 of the Investment and Securities Act.”The Director-General, Consumer Protection Council, Mr Babatunde Irukera, said Buhari’s assent to the bill would help promote economic competitiveness in the country. Irukera said the Federal Government had cemented an efficient and a transparent framework to protect consumers.

Source: Punch February 07, 2019 01:30 UTC