The federal government has warned that suppliers and retailers using the excuse of the Nigeria coronavirus case to inflate protective clothing will be prosecuted. He said sellers of face masks and latex gloves, personal care products like disinfectants and antibacterial wipes, have increased the prices of products that are needed to prevent infection or spread of COVID-19 .
The Federal Competition and Consumer Protection Commission (FCCPC) published a meomo on Saturday via the FCCPC’s Twitter handle, said that the excessive practice during a national public health problem violated both moral codes and applicable law.
Babatunde Irukera, President and CEO, in a statement he signed, noted that mistreating citizens’ sensitivity, apprehension, anxiety and vulnerability, especially during emergencies that could cause harm national security, is a violation of the law.
He said the commission’s monitoring efforts have revealed that even reputable pharmacies and department stores are price-gouging and manipulating supplies in ways that distort the market or temporarily restrict availability in order to increase prices unreasonably / unfairly.
“Any conspiracy, combination, agreement or arrangement to limit or improperly manipulate the supply, in order to unreasonably increase prices or otherwise restrict competition is a criminal offense under Article 108 (1) ( b) and (c), FCCPA, “he noted. .
“Any exercise or exploitation of undue pressure in the sale or sale of goods or services, or the manipulation of prices between the displayed price and the sale price also constitute serious violations of the FCCPA under articles 115 ( 3) and 124 (1).
“Taking advantage of the possibility of infection with a dangerous communicable disease to control supply or raise prices unilaterally is predatory because it attacks the despair of citizens.
“Given the circumstances and the vital national security interest that this illegal behavior jeopardizes, the Commission intends to rigorously apply the entire letter of the law, including the maximum range of sanctions associated with this behavior, “he added.
The FCCPC encouraged consumers to be vigilant and to report these price increases or abusive or arbitrary business practices to the Commission by telephone on 08056002020 or 08056003030, or by email: firstname.lastname@example.org
Source: fccpc twitter