Stop creating cartels in markets to fix prices, FCCPC warns traders

From Fred Ezeh, Abuja

Federal Competition and Consumer Protection Commission (FCCPC) has alleged that traders are bunching together to create cartels in different markets, formal and informal, with a view to arbitrarily fix prices of goods and services for criminal profiteering.

Acting Executive Vice Chairman of the Commission, Abdullahi Adamu, who disclosed this to journalists in Abuja, on Monday, in an enlightenment meeting with students and other youth groups on their protection and rights, said the development will not be tolerated.

Adamu said that such cartels are against the law, hence unacceptable to the Commission and should be disbanded as quickly as possible.

He said: “In the market place, people are not supposed to form themselves into food associations like yam sellers association, beans seller association and several others, for the purposes of fixing prices for items. But unfortunately, they are doing that. That simply means forming cartels which is against the law.

“We have visited some of these markets and informed them that what they are doing is wrong and against the law, and we demanded that they disband such associations. However, we are also working with market administrators/management to educate these associations, and make them understand that they are breaking some sections of FCCPC Act.

“We are still at the advocacy level, but in no distant time, we would start enforcement and sanctions. This may, perhaps, awaken the consciousness of others to.”

He appealed to manufacturers to abide by the rules and guidelines of engagements to avoid sanctions that might affect their operations. “It’s an offense for a consumer to pick up an item in the shelve, and during payment, he or she discovers that the price is different. That’s highy deceptive, and we frown at that.”

Meanwhile, the Acting Executive Vice Chairman, said the Commission is deeply committed to the cause of educating students and other youth groups on the importance of demanding for their rights at all times, and encouraged them not to hesitate to report to the Commission any cause of shortchange.