A popular supermarket in Abuja, Sahad Store, was sealed by the federal government on Friday due to allegations of price fixing and hoarding of commodities. The enforcement, led by Adamu Ahmed Abdullahi, the executive vice-chairman of the Federal Competition and Consumer Protection Commission (FCCPC), was a response to reports of the store charging prices different from those displayed on shelves.
Mr. Abdullahi stated that FCCPC’s preliminary investigation confirmed the supermarket’s lack of transparency in pricing, contravening Section 115 (3) of the law. The store will remain sealed pending further investigation.
Under Section 155, corporate entities found guilty could face fines up to N100 million, while directors may be fined N10 million each or face six months imprisonment upon conviction.
Despite prior notifications for the store to defend itself, the commission’s directives were ignored until a lawyer representing the store appeared, albeit unfamiliar with the case. Mr. Abdullahi emphasized that the store would remain sealed until compliance with regulatory requirements is achieved.
The FCCPC’s action underscores the government’s commitment to ensuring fair pricing practices and consumer protection in the retail sector. It serves as a warning to businesses engaging in misleading pricing strategies and reinforces the importance of transparency and compliance with regulations.
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