#Finance

FCCPC promises stricter regulations on players

By Francis Akinnodi

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The Federal Competition and Consumer Protection Commission (FCCPC) has promised to apply stricter regulations and control on players in the power sector, manufacturing sector, and digital space, in the interest of the consumers in 2023.

Vice Chairman and Chief Executive Officer of FCCPC, Babatunde Irukera made the disclosure while speaking on national television programme, a special business report section monitored by The Hope.

He revealed that FCCPC had towards the end of 2022, embarked on further investigation and scrutiny of the power sector, fast-moving consumer goods, and the activities of digital lenders.

According to him,an action that unraveled major irregularities that have laid the foundation for the areas the organization would focus on in 2023.

The FCCPC boss noted that the agency has started unbundling more of its regulatory tools to create room for penalties in the months ahead.

He said: “Towards the end of last year, FCCPC opened an investigation into the activities of some of the biggest importers of power generators in the country and we made headway in sanitizing the area.

“In particular, the commission has so far tackled cases of wholesome practices across consumer goods, digital economy and some other sectors.”

He also disclosed that the last quarter of the year also saw the commission beaming its searchlight into the activities of the digital lenders, adding that even though the exercise is still ongoing, a framework has been put in place.

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