The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Lagos chapter, against anti-competitive conduct.
The warning is contained in a statement by FCCPC executive vice-chair Babatunde Irukera.
Mr Irukera said FCCPC received information over the purported decision of AMMBAN on behalf of certain point of sale (PoS) operators allegedly setting uniform prices for a range of transaction services.
He said the FCCP Act has expressly prohibited price-fixing or agreement among undertakings under the aegis of an association to fix prices. Mr Irukera said the FCCPA also prohibited any agreement to coordinate supply or commercially sensitive factors that could limit or substantially prevent competition or otherwise distort the market.
According to him, the FCCPA provides stiff penalties for cartels or similar coordinated or collusive conduct among competitors, even at association levels.
He said the FCCPC was also investigating the statement, and where evidence proved it factual, FCCPC would take appropriate regulatory steps to address the conduct.
”FCCPA recognises, indeed encourages the prerogative of businesses to organise in, and as trade associations for acceptable purposes, such as ensuring and enforcing applicable standards and best practices,” explained the FCCP boss. However, the same FCCPA copiously and extensively limits the scope of such collaboration, particularly to exclude coordination with respect to scope or supply of services and price of services.”
He added, ”The commission will seek to enforce the law to its full extent possible where there is sufficient evidence that a business has, or is participating in any such prohibited conduct.”
Mr Irukera said price-fixing distorted the market, prevented innovation and efficiency and was not to benefit consumers or other businesses. He appealed to consumers to provide useful and credible information that could assist the investigation and enforcement via fccpc.gov.ng.
(NAN)
