Dike Onwuamaeze
The Federal Competition and Consumer Protection Commission (FCCPC) has stormed three steel manufacturing firms in Ogun State to investigate alleged manufacturing of substandard iron rods and other trade anti-competition practices.
The affected companies were African Foundries Limited (AFL), Ogijo, Ogun State; the Monarch Steel Mill Limited, Sagamu, Ogun State, and the Kam Steel Integrated Company, Sagamu, Ogun State.
The Acting Executive Vice Chairman of FCCPC, Dr. Adamu Abdullahi, who addressed journalists yesterday at the premises of AFL, said that the reason the commission visited these companies was based on intelligence that anti-competitive behaviour might be going on as alleged.
Abdullahi said: “Essentially, we got intelligence and surveillance reports that these companies in question are allegedly involved in some anti-competitive behaviour. That is the reason we decided to come to these three companies.
“So that we can take…
Source: Thisday Newspaper
