Nigeria: Reps to Probe 'Unethical Practices' By Multinational Companies in Nigeria

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The House also asked the Federal Competition and Consumer Protection Commission (FCCPC) to immediately halt the alleged unfair business practices by multinationals.

The House also asked the Federal Competition and Consumer Protection Commission to immediately halt the alleged unfair business practices by multinationals.

Moving the motion, Mr Benson stated that international business ethics and standards require businesses to operate in a fair, healthy, and efficient manner while ensuring competitive trade practices at home and abroad. However, some of these companies have not been doing that. "Prior to the commencement of the Lagos-London route by Air Peace Airlines for below N1 million, foreign airlines like British Airways and Ethiopian Airlines sold their one-way air tickets for as high as N4 million. As soon as Air Peace Airlines commenced the sale of their tickets at a lower price, other airlines dropped their prices far below that of Air Peace Airlines," he said.

In addition, the House asked the committees to investigate the alleged unethical business competitive behaviours by foreign airlines and IOCs and report within four weeks for further legislative action.The motion was adopted unanimously when it was put to vote by the presiding officer, Deputy Speaker Ben Kalu.This motion is coming amid what has been termed a mass exodus by multinationals in Nigeria.

 

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