Coronavirus: Consumer Protection Commission Vows To Prosecute Traders Who Inflate Prices Of Hygiene Products
The Federal Competition and Consumer Protection Commission (FCCPC) has vowed to prosecute sellers who charge unreasonable amount on critical hygiene products during this period of lockdown in the country as a result of the coronavirus.
The commission disclosed this on Tuesday, saying that it would deploy all statuary measures to prevent “profiteering and exploitation” of Nigerians, as the pandemic had already affected their livelihood.
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“The commission is determined to ensure that suppliers and retailers do not manipulate supply to distort the market or promote high prices or engage in excessive pricing of relevant products.
“The commission intends to enforce law with respect to fair competition and consumer protection,” the commission said.
FCCPC also advised consumers to reduce their rate of making unnecessary and excessive purchase as a result of panic, adding that it promotes anxiety and price hike.
The body however frowned against the price gauging on chloroquine as well as the panic buying initiated by consumers of the drug.
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Consumers had initiated impulse buying after the index case of the coronavirus was recorded in Lagos on February 25, leading to scarcity of some basic hygiene products, while sellers inflated prices.
The commission responded to the hike by issuing warning on February 28, against arbitrary and irrational pricing by the sellers of basic hygiene products.
