The Federal Competition and Consumer Protection Commission, on Friday, sealed popular supermarket, Sahad Store, in the Garki area of Abuja over lack of transparency in the way it is fixing prices for products.
This is coming a day after President Bola Tinubu unveiled plans to tackle factors responsible for the food crisis across the nation.
The Federal Government and the state governors across the country had on Thursday agreed to set up a committee to tackle the issue of hoarding of products in the country.
Minister of Information and National Orientation, Mohammed Idris, disclosed after the meeting President Bola Tinubu held with governors, heads of Security Agencies and some other stakeholders at the Presidential Villa, Abuja, on Thursday.
Idris accused some traders of hoarding food products.
He added that the security agencies had been mandated to liaise with governors to tackle the menace.
“Mr. President has agreed to set up a committee to deepen the conversation that has happened at the just-concluded meeting. Of course, you know that it is impossible to complete most of the issues that were raised at the meeting so it is going to be a continuous one.
“The National Security Adviser, the Director General of the state services, and the Inspector General of Police have been directed to coordinate with the state governors to look at the issue of those hoarding commodities.
“At this point, the nation requires foods to be brought out to the people so that we can control prices and put food on the table of most Nigerians. Other commodity traders are busy hoarding these commodities so that Nigerians will suffer or they will make more money as a result.
“So the governors and Mr. President have taken this decision that security agencies will collaborate with the state governors to ensure that this ends.”
However, the Federal Government has accused the management of Sahad Store of shortchanging customers by charging prices other than the price tag on the shelves.
The enforcement team was led by FCCPC Acting Executive Vice Chairman, Adamu Ahmed Abdullahi.
Abdullahi, who briefed journalists after sealing the store, said that the commission’s preliminary investigation revealed that the management of the supermarket was short-changing customers.
The FCCPC noted that the store would remain sealed until the completion of further investigation, saying, “What we have found out that these people are doing is misleading pricing and lack of transparency in the pricing, which is against Section 115 (3) of the law that says a consumer is not required to pay a price for any good or service higher than the one that’s on display.”
“Section 155 states that any corporate person that contravenes is liable to a fine of 100 million naira or even more and the directors of the company themselves are liable upon conviction payment of 10 million naira each or imprisonment of six months or both.
“What we have done today is to make sure that they comply with the law. We initially called them to come and defend themselves but failed to show up. In the long run, they sent a lawyer whom we asked if he was familiar with the facts of the case. He said he wasn’t.
“To unseal the store, they have to make sure that they do what is required to be done.”