FCCPC Seals Sahad Stores Over Alleged Price Fixing

The Federal Competition and Consumer Protection Commission (FCCPC) has sealed off Sahad Stores over allegations of price fixing.
Officials of FCCPC were seen sealing off the Stores in Garki in Abuja on Friday, February 16, 2024, during an enforcement exercise.
The Commission had warned businesses participating in unwholesome activities of overcharging vulnerable consumers in the food chain sector to desist or face the full weight of the law.

FCCPC said, it would not tolerate actions compromising the integrity of the food chain sector, threatening that the legal consequences would be swift and severe.

The Commission’s Ag. Executive Vice Chairman/Chief Executive Officer, Dr. Adamu Abdullahi who handed down the warning in a statement on Friday, February 9, 2024, said, the Commission’s surveillance efforts suggest participants in the food chain and distribution sector including at the retail level are engaging in conspiracy, price gouging, hoarding, and other unfair tactics/ strategies to restrict the supply of food, manipulate and inflate the price of food in an indiscriminate manner.

The conduct, he noted, violates both moral and legal codes.

“Taking advantage of consumer anxiety and vulnerability to inflate prices, and restrict or distort competition, is obnoxious, unscrupulous, exploitative, and illegal”, he added.

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