TRADE OFFENCES ACT AMENDMENT BILL
Bill · Trade
A Bill amends the Trade Offences Act to update penalties and expand coverage for trade-related offences. It targets traders, business owners, market operators, and law enforcement agencies to strengthen enforcement. This protects consumers from fraudulent practices.
What Is This Policy?
A bill to amend the Trade Offences Act to update penalties, expand coverage, and strengthen enforcement against trade-related offences in Nigeria.
Who Does It Target?
Traders, business owners, market operators, law enforcement agencies, and consumers.
What Does It Aim to Achieve?
Modernize trade offence legislation, strengthen penalties for illegal trading activities, and protect consumers from fraudulent trade practices.
Key Features
Updated Penalties: Revised fines and sanctions for trade offences. Expanded Coverage: Addresses new forms of trade malpractice. Enforcement: Strengthens enforcement mechanisms.
Current Status
Rollout Stage: Under legislative consideration. Coverage: Nationwide.
How to Access
Upon enactment, traders and businesses must comply with updated regulations. Await passage of the bill into law
Impact & Metrics
Expected to reduce trade malpractice and protect consumer interests.
Official Resources
Website: nass.gov.ng Contact: National Assembly, Abuja
Legal Framework
To be enacted under the legislative powers of the National Assembly vested by Section 4 of the 1999 Constitution. Will modify the Trade Offences Act Cap T14 LFN 2004, operating alongside the Federal Competition and Consumer Protection Act 2018, the Standards Organisation of Nigeria Act 2015, and the Customs and Excise Management Act.