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NEWS UPDATE: Commission investigates cartel, anti-competitve conduct in shipping, freight forwarding industry

NEWS UPDATE: Commission investigates cartel, anti-competitve conduct in shipping, freight forwarding industry

The Federal Competition and Consumer Protection Commission, FCCPC, has dispatched an examination concerning cartel and against competitve direct in the delivery and cargo sending industry.

FCCPC said five organizations inside the delivery and cargo sending enterprises were looked on the sets of the Federal High Court.

Babatunde Irukera, the Executive Vice Chairman of FCCPC, clarified that the inquiry was done because of possible encroachments of the Federal Competition and Consumer Protection Act 2018.

In an assertion he marked, Irukera revealed that the five influenced organizations took an interest in a planned enemy of cutthroat direct that influence the market and induced the proceeded with high cargo rates in Nigeria.

According to the assertion: “Monday, October 25, 2021: On Monday, October eighteenth 2021, the Commission executed a legal court order and request of the Federal High Court to look and accumulate data/proof in facilitation of an open and dynamic examination of expected encroachments of the Federal Competition & Consumer Protection Act 2018 (FCCPA) on five (5) organizations inside the transportation and cargo sending industry.

“Prior to the execution of the court order and request of the court, the Commission had assembled believable and significant insight adequate to set up reasonable justification and sensible reason for the court to give a warrant and enter a request allowing chiefs and agents of the Commission to lead a pursuit of the organizations named in the warrant and order.

“Essentially, the knowledge show that the five organizations recognized in the warrant (just as other people who were neither subject of the warrant nor focuses of the hunt) have throughout some undefined time frame, inside and outside Nigeria partook in, or composed enemy of serious lead that substantially influence or twist the market in Nigeria, including forestalling reasonable rivalry, and causing proceeding with high cargo rates and related expenses to, and in Nigeria.”





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