The Federal Government has warned that suppliers and
retailers using the excuse of coronavirus case in Nigeria to inflate protective
apparel will be prosecuted.
It said sellers of face masks and latex gloves, personal
hygiene products like sanitizers and anti-bacterial wipes, have increased
prices of the products which are necessary in preventing infection or spread of
COVID-19.
Federal Competition & Consumer Protection Commission
(FCCPC), on Saturday, said the inordinate practice during national public
health concern violates both moral codes and extant law.
Babatunde Irukera, Chief Executive Officer, in a statement
he signed, noted that abusing citizens’ sensitivity, apprehension, anxiety and
vulnerability, especially during emergencies that could adversely affect
national security is a violation of law.
It said the commission’s surveillance efforts have revealed
that even reputable pharmacies and department stores are engaging in price
gouging and manipulating supplies in a manner that distorts the market, or
temporarily restricts availability in order to unreasonably/unfairly increase
prices.
“Any conspiracy, combination, agreement or arrangement to
unduly limit or manipulate supply, in order to unreasonably enhance price or
otherwise restrain competition is a criminal offence under S.108(1)(b) and (c),
FCCPA”, he noted.
“Any exercise or exploitation of undue pressure in selling
or the sale of goods or services, or price manipulation between displayed, and
selling price are also serious violations of the FCCPA under Sections 115(3)
and 124(1).
“Taking advantage of the possibility of infection by a
dangerous communicable disease to control supply, or unilaterally increase
prices is predatory as it preys on the desperation of citizens.
“Considering the circumstances and the vital national
interest/security this illegal conduct undermines, the Commission intends to
strongly enforce the full letter of the law, including the fullest extent of
penalties associated with this conduct,” he added.
The FCCPC encouraged consumers to be vigilant, and report
such unreasonable or arbitrary exploitative price increase or trade practices
to the Commission by telephone on 08056002020, or 08056003030, or by email:
contact@fccpc.gov.ng.
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