FCCPC Orders Traders To Crash Price In One Month

The Federal Competition and Consumer Protection Commission (FCCPC) has given retailers and other market participants who engage in exploitative pricing a one-month reprieve and is advising them to lower their product prices.

This declaration was made on Thursday in Abuja during a one-day stakeholders’ engagement on exploitative pricing, which was hosted by Mr. Tunji Bello, the recently appointed Executive Vice Chairman of the FCCPC.

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Bello declared that after the moratorium expires, the Commission would start taking enforcement measures.

He explained that the meeting was convened to address the increasing trend of unreasonable pricing of consumer goods and services, as well as the unethical practices by market associations.