By Ebitonye Akpodigha
The Senate on Wednesday commenced moves to scrap the Consumer Protection Council (CPC) and establish Federal Competition and Consumer Protection Commission(FCCPC).
This is sequel to a Bill to repeal the Consumer Protection Act and establish Federal Competition and Consumer Protection Commission (FCCPC), sponsored by Senator Andy Uba (PDP, Anambra South).
Leading the debate, Mr Uba said the Bill seeks to provide for the establishment of the FCCPC to promote competition in trade and commerce among states and externally, with foreign Nations.
“This is to be achieved by the provisions of this Bill, which controls existing monopolies, discourages the abuse of dominant market position and other restrictive trade and business practices, “he said.
He said the passage of the bill would lead to the establishment of a Tribunal which would take over the existing structures of the Consumer Protection Council.
The Deputy Senate President, Mr Ike Ekweremadu said the establishment of the commission would attract investors to the country.
He referred the bill to the Senate Committee on Trade and Investment for further legislative actions.