The Federal Competition and Consumer Protection Commission, FCCPC has been carrying out inspection of market places to combat sharp practices believed to have led to or encouraged undue rise in prices of food and other commodities. The Acting Executive Vice Chairman of FCCPC, Dr Adamu Abdullahi stated this while presenting his scorecard in the last seven months to newsmen in Abuja.
He said the Commission had embarked on various market inspections, implement measures to curb soaring food prices, campaign against tobacco underage smoking, promote fair competition,action against underweight bags of rice and sale of expired goods, cement price hike, substandard iron rods, and illegal discriminatory practices in a Chinese Supermarket among others.
Dr. Abdullahi said, “In the last seven months, the Commission actively worked to prevent anti competitive practices, protect consumers and foster a competitive market and our efforts included enforcing the Federal Competition and Consumer Protection Act, FCCPA, reviewing mergers, conducting investigations and engaging in consumer and business education among others.”
He reiterated the commitment of the Commission towards promoting competition and protecting consumers to create a vibrant economy that will benefit businesses and Nigerians.
Abdullahi who said FCCPC has also been advocating for the rights of Nigerian consumers particularly in the digital money lending industry, said the agency is undertaking data analysis to process complaints of consumers.
He said, “The Commission is currently implementing data analysis techniques to systematically analyse consumer complaints to help in identifying patterns of unfair practices, leading to targeted interventions and improved consumer protection measures.
The Acting Executive Vice Chairman of FCCPC explained that the Commission has equally intensified its engagement with Ministries, Departments and Agencies MDAs and other Stakeholders to sign separate Memorandum of Understanding, MOU, towards realising the mandate of FCCPC.
“To uphold the sanctity of the Federal Competition and Consumer Protection Act, FCCPA, 2018 and successfully implement its provisions, the Commission diligently prosecuted cases involving offenders of the law.
He said, “Notably on Friday, May 17, 2024, the Federal High Court sitting in Lagos delivered a landmark judgement convicting Dr Anuoluwapo Funmilayo Adepoju and MedContour Services Limited on all five counts of obstructing an investigation by the FCCPC and the Court upheld the FCCPC ‘s broad investigative powers under the FCCPA ruling that the FCCPA applies to “all undertakings and all commercial activities” within Nigeria including health services related to consumer protection “.
He noted that the judgement strengthened the FCCPC ‘s authority to investigate consumer rights’ violations across all sectors including healthcare and serves as a warning to businesses that impede or obstruct regulatory investigations.
