[1] The Commission was established by the Federal Competition and Consumer Protection Act (FCCPA) 2018. among others, develop and promote fair, efficient and competitive markets in the Nigerian economy, facilitate access by all citizens to safe products, and secure the protection of rights for all consumers in Nigeria.
In 2020, the FCCPC signed a "memorandum of understanding" with the U.S. Federal Trade Commission (FTC), pledging international cooperation in the realm of consumer protection efforts.
[5] The Commission in fulfilment of its statutory mandate deploys several regulatory tools to monitor and modify behaviour of service providers and manufacturers.
Some key areas of operation include complaint resolution, surveillance and enforcement, consumer education, as well as research and strategy.
[7] On June 24, 2024, President Bola Tinubu approved the appointment of Olatunji Bello as the new Chief Executive Officer/Executive Vice-Chairman of the Federal Competition and Consumer Protection Commission (FCCPC).