Federal Agency Cracks Down On Price Fixing, Sahad Store In Abuja Sealed

Federal Agency Cracks Down On Price Fixing, Sahad Store In Abuja Sealed

In a swift move, the Federal Competition and Consumer Protection Commission (FCCPC) has taken action against Sahad Store, a prominent supermarket located in the Garki area of Abuja. The store was sealed by FCCPC officials due to alleged lack of transparency in its pricing practices….READ ALSO Federal Government Drops Charges Against Sowore, Activists Celebrate Victory

This development comes on the heels of President Bola Tinubu’s recent announcement of plans to address the ongoing food crisis plaguing the nation. Following a meeting with governors, security agency heads, and ministers, Minister of Information and National Orientation, Mohammed Idris, revealed that the government is intensifying efforts to combat the hoarding of essential products.

Highlighting concerns over traders hoarding food items to manipulate prices and profit unfairly, Idris emphasized the need to ensure food accessibility for all Nigerians.

Despite the government’s stance against price fixing, Sahad Store has been accused of overcharging customers by not adhering to displayed prices. Acting on these allegations, FCCPC Acting Executive Vice Chairman, Adamu Ahmed Abdullahi, led an enforcement team to seal the store pending further investigation.

Abdullahi asserted that Sahad Store’s actions violated consumer protection laws, which prohibit misleading pricing practices. He outlined the potential legal consequences for such violations, including hefty fines and imprisonment for corporate entities and their directors.

While the store remains closed, FCCPC has urged Sahad Store’s management to address the allegations and comply with legal requirements to rectify the situation and reopen their business.