Get Guardian on Google
The Federal Competition and Consumer Protection Commission (FCCPC), says it will begin market associations’ advocacy in the six geo-political zones of the country.
According to the Commission, the move is to discourage cartels, price-fixing and other anti-competitive practices.
The acting Executive Vice Chairman of the Commission, Dr Adamu Abdullahi, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Sunday.
[ad]
Abdullahi said the advocacy was geared toward sensitising market associations’ executives and members on what the FCCPC Act said about joint price fixing and the consequences.
He said the Commission had selected at least two supermarkets and two open markets where the advocacy would take place.
The acting executive vice chairman said the exercise would take place in Osogbo, Awka, Port-Harcourt, Katsina, Minna, and Bauchi.
Abdullahi, who said the Commission had engaged some market executives in Masaka market, Nasarawa State, said they feigned ignorance of some aspect of the FCCPC Act.
”We have notified our officials in the zones.
” We have chosen at least two supermarkets for the formal sector and two open markets for the informal sector.
”We want to find out what is going on in those markets, they will report back to us and talk to the market associations and start advocacy on the issue of associations.
”That way, people will know that there is a government agency whose eyes are on them.
[ad]
”This first time will be an advocacy but by the time we come back, it will be an enforcement, bad behaviours have consequences and we will impose sanction,s” he said.
The acting executive vice chairman, called on the public to report any anti-competitive practices noticed in the markets to the Commission to take adequate actions.
”Let the public know that once there is an expired product in a supermarket or open market, they should let us know so that we can go and evacuate them.”
”Our penalties are hefty because in the case of the supermarkets, the formal markets, we can sanction up to 10 per cent of their turnover for the year.
”Also, every director of that company pays a N10 million fine if we find you culpable of anything against our Act,” he said.
[ad]
