The Federal Government of Nigeria on Saturday, threatened to seal Fast-Moving Consumer Goods, FMCG, outlets nationwide.
FMCG, outlets is threatened to be sealed over deceptive pricing amid rising hardship.
Adamu Abdullahi, the Acting Executive Vice Chairman of the Federal Competition and Consumer Protection Commission, FCCPC issued this warning in a statement on Saturday amid the rising cost of food.
According to Abdullahi, businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions.
He further stated that businesses must avoid misleading prices and adhere to fair and transparent pricing practices to ensure consumer protection and a healthy market environment.
“The Commission is aware that similar practices may occur at other FCMG outlets nationwide. These outlets are advised to cease such practices immediately to avoid consequences.
“Businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions, especially during challenging economic times.
“The FCCPC remains committed to combating all forms of exploitative or misleading practices that undermine consumer rights. The FCCPA protects consumer rights and prohibits deceptive business practices. Section 115 outlines potential penalties for violations, including fines for organisations and imprisonment for directors.
“The FCCPC encourages all businesses to adhere to fair and transparent pricing practices to ensure consumer protection and a healthy market environment”, the statement reads.
AFRIPOST had reported that the Commission sealed up Sahad Stores, a popular store in Abuja over misleading pricing and high prices on Friday.