By Sabiu Abdullahi
The Federal Competition and Consumer Protection Commission (FCCPC) took decisive action on Friday by sealing Sahad Store, a prominent supermarket located in the Garki area of Abuja.
The commission cited the store’s lack of transparency in price fixing as the reason for the closure.
This development comes just a day after President Bola Tinubu announced plans to address factors contributing to the ongoing food crisis in Nigeria.
Following a meeting with state governors, security agency heads, and ministers at the Presidential Villa in Abuja, Minister of Information and National Orientation, Mohammed Idris, revealed that a committee would be established to combat product hoarding.
According to Idris, some traders have been accused of hoarding food products, exacerbating the challenges faced by Nigerians.
He emphasised the need to ensure that essential commodities are readily available to people at fair prices.
The enforcement team from FCCPC, led by Acting Executive Vice Chairman Adamu Ahmed Abdullahi, found Sahad Store guilty of misleading pricing and lack of transparency during a preliminary investigation.
Abdullahi stated that the store would remain sealed until further investigations are completed.
The commission invoked Section 115(3) of the law, which prohibits charging consumers prices higher than those displayed.
Additionally, Section 155 outlines severe penalties for corporate entities found in violation, including fines and potential imprisonment for directors.
Despite being summoned to defend their actions, Sahad Store’s management failed to appear, only sending a lawyer who was not familiar with the case. Abdullahi emphasised that compliance with the law is necessary for the store’s reopening.
The closure of Sahad Store underscores the government’s commitment to ensuring fair pricing practices and protecting consumers from exploitation amidst the current economic challenges facing Nigeria.