The Federal Competitors and Client Safety Fee has acknowledged that it’s going to not hesitate to take motion towards companies participating in worth fixing.
It highlighted the pressure this act locations on shoppers’ well-being and financial stability and urged residents to report such practices.
The FCCPC disclosed this in a press release posted on its official X deal with on Sunday.
The assertion learn, “The FCCPC acknowledges that the rising value of important items impacts shoppers’ well-being and financial stability.
“Whereas we recognise that the fee can not instantly management costs, we’re dedicated to safeguarding shoppers’ pursuits and making certain honest market practices, necessitating honest pricing.
“Arbitrary worth will increase stemming from untoward practices like worth gouging and conspiracy to govern provide violate present legal guidelines.
“The fee won’t hesitate to invoke Part 17(s) of the Federal Competitors and Client Safety Act (FCCPA) 2018 towards any perpetrator of such acts. This part prohibits obnoxious commerce practices and unscrupulous exploitation of shoppers.”
The assertion urged Nigerians to remain vigilant and report any unfair commerce practices they encounter.
It added, “We encourage shoppers to stay vigilant and report unfair commerce practices to the FCCPC.
“Customers can present particulars, together with the conduct, location of perpetrators, and different related info for investigation, by means of [email protected].
“The FCCPC stays dedicated to selling honest competitors, defending shoppers, and fostering a regulated market. We respect residents’ vigilance and encourage energetic participation in reporting any violations.”
PUNCH reported in February that FCCPC sealed a well-liked grocery store within the Garki space of Abuja, Sahad Retailer, for lack of transparency in the best way it was fixing costs for merchandise.
Equally, it additionally inspired electrical energy shoppers to report distribution firms that did not adjust to the capping of estimated payments for unmetered prospects.
