Thursday, August 7, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Business

FCCPC Caution Traders Against Price Inflation, Substandard Goods

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
July 30, 2025
in Business, Featured
0
FCCPC Slam Traders With 1-Month Ultimatum To Crash Prices
0
SHARES
12
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The Federal Competition and Consumer Protection Commission (FCCPC) has issued a warning to traders across Lagos State to cease artificial price inflation and ensure the authenticity and safety of their goods.

The Executive Vice Chairman and Chief Executive Officer of FCCPC, Mr. Tunji Bello, gave the directive at a Market Engagement Forum organized by the commission in Lagos.

Related posts

Shock As Newborn Baby Disappears From Ekiti Hospital

Ekiti: Stolen Newborn Baby Recovered, Woman Arrested

August 7, 2025
BREAKING: El-Rufai Dumps APC For SDP

El-Rufai Still Our Card-carrying Member — APC Chieftain

August 7, 2025

Bello, represented by the Principal Consumer and Business Education Officer, FCCPC, Mrs. Bridget Etim, underscored the commitment of the commission to fostering fair competition and safeguarding consumer rights, as enshrined in the Federal Competition and Consumer Protection Act 2018.

He reminded all businesses, irrespective of their scale or operational setting, that they are subject to the provisions of this law.

Bello said that findings from recent FCCPC operations included the discovery of expired rice re-bagged and sold as premium brands at Daleko Market.

He condemned such “wrong and illegal” practices, emphasising the inherent risks to public health and the damage inflicted on the reputation of honest traders.

Report indicated that FCCPC’s intensified engagement extended to major markets in Lagos, including Mile 12 and Alaba.

At Mile 12, Lagos’s largest food hub, the commission tackled issues of tampered scales, under-weighing, the repackaging of spoilt produce, and suspected price-fixing of essential staples like rice, pepper, and yam.

Similarly, at Alaba International Market, a prominent electronics hub, the FCCPC addressed concerns related to the sale of counterfeit appliances, misleadingly labelled “Tokunbo” (fairly used) goods.

Others include false warranty claims and coordinated price-fixing of electronics such as televisions, generators, and phones.

“These are not minor issues. They affect household income, endanger consumer safety, and erode public trust.

“They violate key provisions of the FCCPA 2018, which prohibit deceptive practices and unfair pricing,” the FCCPC boss said.

He stressed that such violations not only harm the integrity of the market but also disadvantage honest traders who adhere to ethical practices.

While acknowledging the pressures faced by traders, including rising operational costs, Bello reiterated the FCCPC’s dual mandate: consumer protection and the amplification of genuine business concerns to relevant agencies.

He called for a collaborative approach with market leaders to establish new standards of integrity, where fair competition thrives and consumers can shop with confidence.

Bello urged traders to always ensure honesty and respect in their dealings with customers, to promptly address consumer concerns and complaints.

According to him, FCCPC is optimistic that this renewed engagement will lead to a shared vision with market associations to eradicate all forms of abusive and deceptive practices.

Speaking at the forum in Mile 12, Alhaji Shehu Jibril, Chairman, Mile 12 Market, said that farmer security is critical for national food security and for them to be able to cultivate and harvest without facing ransom threats.

He called for investment in Compressed Natural Gas trucks dedicated to transporting perishable items, noting that using the same trucks for chemicals and food is unsafe and harmful.

Jibril stated that the excessive cost of over N150,000 to transport goods from Kano to Lagos, driven by multiple taxes, severely impedes the movement of goods.

He appealed for government grants to support struggling traders, especially in large markets like Mile 12 Market, noting that most traders lack capital and need funding to sustain food supply chains.

Also, Chief Camilus Amajuoyi, Chairman, Alaba International Amalgamated Council of Sections, expressed the market’s readiness to work with the FCCPC, stressing the association’s commitment to stop selling bad goods but promote honest business.

Amajuoyi, who also heads the International Market Association Electronics, noted past engagements with FCCPC, where similar agreements and understanding with the CPC brought good results.

Also, the President-General of Alaba Council said traders in Alaba do not sell fake products no but highlighted a shift in the market where members were focusing on Nigerian brands, made locally.

“Most products here are indigenous. We are selling our own branded goods now,” he explained.

Amajuoyi denied claims of fake goods in Alaba.

“We are not selling fakes. Although, some of us stopped selling foreign products,” he added.

Amajuoyi insisted the market would help the FCCPC, saying, “the excutive will find and catch those selling bad products.

“Such illegal acts hurt Alaba’s name. “We are ready to partner with you. We will help find those who subsidise originals.”

 

The Punch

Tags: FCCPCfood inflation

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

NNPC Rules Out Port Harcourt Refinery Sale

Next Post

Nurses’ Strike: Abuja Hospitals Discharge Patients

Next Post
Nurses’ Strike: Abuja Hospitals Discharge Patients

Nurses’ Strike: Abuja Hospitals Discharge Patients

RECOMMENDED NEWS

AFCON 2023: Mourinho Picks Team To Win Nigeria Vs Ivory Coast Final

AFCON 2023: Mourinho Picks Team To Win Nigeria Vs Ivory Coast Final

1 year ago
Where Is Governor Ademola Adeleke? – Group

Osun Politics And Governance After Multiple Storms By Olawale Rasheed 

5 months ago
PDP Score Tinubu’s Midterm As ‘Massive Disappointment’

PDP Fixes Thursday For 101st NEC Meeting

2 weeks ago
Na Your Mama’: Delta Nursing Student Faces Sanction Over Viral Video

Na Your Mama’: Delta Nursing Student Faces Sanction Over Viral Video

4 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Ademola Adeleke Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Buhari CBEX Coalition Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigerian National Petroleum Company Limited (NNPCL) Nnamdi Kanu NNPC NNPCL Olubadan PDP Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • Ekiti: Stolen Newborn Baby Recovered, Woman Arrested
  • El-Rufai Still Our Card-carrying Member — APC Chieftain
  • Remi Tinubu Donates ₦110m To Families Of 22 Deceased Kano Athletes
  • Northern Group Credits Tinubu For Education Reforms, Endorses Re-Election Bid

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

Shock As Newborn Baby Disappears From Ekiti Hospital

Ekiti: Stolen Newborn Baby Recovered, Woman Arrested

August 7, 2025
BREAKING: El-Rufai Dumps APC For SDP

El-Rufai Still Our Card-carrying Member — APC Chieftain

August 7, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights