SAT, FEB 29 2020-theG&BJournal- The Federal Competition and Consumer Protection Commission (FCCPC) has warned that it intends to strongly enforce the law against certain suppliers and retailers taking undue advantage of citizens and engaging in unconstitutional trade practices with respect to basic safety and protective apparel such as face masks and latex gloves, as well as personal hygiene products like sanitizers and anti-bacterial wipes, because these products are relevant and necessary in preventing infection or spread of COVID-19.
The Commission came out with the statement Friday after they observed the ‘’unusual and inordinate practice of unreasonably increasing the price of these products in an indiscriminate manner, on account of the national public health concern on Coronavirus violates both moral codes and extant law.’’
FCCPC said ‘’abusing citizens’ sensitivity, apprehension, anxiety and vulnerability, especially during emergencies that could adversely affect national security is a violation of law.
The law in question is S.17(s) of the Federal Competition and Protection Act (FCCPC) which prohibits ‘’obnoxious trade practices’’, or the ‘’unscrupulous exploitation of consumers.’’
The Commissions’ surveillance efforts revealed that some otherwise reputable pharmacies and department stores are engaging in price gouging and manipulating supplies in a manner that distorts the market, or temporarily restricts availability in order to unreasonably and unfairly increase prices.
‘’Any conspiracy, combination, agreement or arrangement to unduly limit or manipulate supply, in order to unreasonably enhance price or otherwise retrain competition is a criminal offence under S.108 91) (b) and (c), FCCPC.’’
The Commission says it is continuing communication with the Nigeria Centre for Disease Control (NCDC) on Nigeria’s preparedness for COVID-19 outbreak in the country and says the country’s readiness is ‘’sufficient and effective.’’
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