The Federal Competition and Consumer Protection Commission (FCCPC) has warned Nigerians against arbitrary increase in prices of goods and services, saying it violates existing laws.
The FCCPC warned that stemming practices are like price gouging and conspiracy to manipulate supply and will lead the commission to invoke section 17(s) of the Federal Competition and Consumer Protection Act (FCCPC) of 2018.
This statement was confirmed on the FCCPC official X page on Sunday, encouraging Nigerians to report any unfair trade practices to the FCCPC website’@fccpc.govt.ng’
“We appreciate citizens’ vigilance and encourage active participation in reporting any violations”. The statement reads.
FCCPC emphasizes their commitment to regulating fair prices in the market place and to create an environment where consumers are safeguarded and businesses operate ethically within the provisional existing law.
