The Role of Consumer Protection Agency and the Judiciary on Consumer Protection

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  • Topic: Consumer protection, Law, Federal Trade Commission
  • Pages : 3 (990 words )
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  • Published : August 12, 2012
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THE ROLE OF CONSUMER PROTECTION AGENCY AND THE JUDICIARY ON CONSUMER PROTECTION

A consumer can be defined as someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. Consumer protection consists of laws and organizations designed to ensure the rights of consumers as well as fair trade competition and the free flow of truthful information in the marketplace. The laws are designed to prevent businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors and may provide additional protection for the weak and those unable to take care of themselves. Consumer protection laws are a form of government regulation which aims to protect the rights of consumers. For example, a government may require businesses to disclose detailed information about products—particularly in areas where safety or public health is an issue, such as food. Consumer protection is linked to the idea of "consumer rights" (that consumers have various rights as consumers), and to the formation of consumer organizations, which help consumers make better choices in the marketplace and get help with consumer complaints. Other organizations that promote consumer protection include government organizations and self-regulating business organizations such as consumer protection agencies and organizations, the Federal Trade Commission etc. Consumer interests can also be protected by promoting competition in the markets which directly and indirectly serve consumers, consistent with economic efficiency. In Nigeria, the major Consumer Protection Agency saddled with this responsibility is the Consumer Protection Council (CPC). Consumer Protection Council (CPC) is a Parastatal of the Federal Government of Nigeria, supervised by the Federal Ministry of Trade and Investment. Though established by Act No. 66 of1992, it commenced operations only in 1999, when its institutional framework was put in...
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