By Chibuike Nwabuko
ABUJA FCT – The Federal Competition and Consumer Protection Commission (FCCPC) has read riot act to traders, urging them to cease exploitative pricing or face the consequences.
The Executive Vice Chairman/CEO, Tunji Bello made the call during the FCCPC’s one-day stakeholders’ meeting held in Abuja.
Bello who threatened that Price gouging and price fixing are not only unethical, but patently illegal under the FCCPA, warned that the FCCPC has the will and the capacity to invoke the full weight of the law against those found culpable of exploiting consumers.
Disclosing this in a statement released on official X account of FCCPC, Bello said:
“In view of the current situation in Nigeria, let me however be very unequivocal. Price gouging and price fixing are not only unethical, but patently illegal under the FCCPA. As such, the FCCPC has the will and the capacity to invoke the full weight of the law against those found culpable of exploiting consumers.
However, our approach today is not punitive or adversarial… dialogue and collaboration are equally important tools in fostering a fair marketplace.”
Tunji Bello
Executive Vice Chairman/CEO
Stating FCCPC’s case against profiteers
