Parrot Reporters
No Result
View All Result
  • Home
  • Top Stories
  • News
  • Politics
  • Business
  • Economy
  • World News
  • Diaspora
  • Other Features
    • Crime
    • Entertainment
    • Tourism
    • Interviews
    • Editorials
    • Opinion
Parrot Reporters

FCCPC Gives Traders Deadline To Reduce Prices Of Products.

Bello Akin by Bello Akin
August 29, 2024
0
FCCPC Gives Traders Deadline To Reduce Prices Of Products.
Share on FacebookShare on TwitterShare on Whatsapp

The FCCPC has set a one-month deadline for traders to reduce the prices of goods throughout Nigeria.

The Federal Competition and Consumer Protection Commission (FCCPC) has announced a one-month grace period for traders and market participants engaged in price exploitation, encouraging them to lower their prices on goods.

Mr. Tunji Bello, the newly appointed Executive Vice Chairman of the FCCPC, shared this information during a one-day stakeholders’ engagement focused on exploitative pricing, which took place on Thursday in Abuja.

Mr Tunji Bello, Executive Vice Chairman of FCCPC.

Bello indicated that the Commission plans to initiate enforcement actions as soon as the moratorium period concludes.

He said, ”Under Section 155, violators whether individuals or corporate entities face severe penalties including substantial fines and imprisonment if found guilty by the court.

”This is intended to deter all parties involved in such illicit activities.

”However, our approach today is not punitive. I, therefore, call on all stakeholders to embrace the spirit of patriotism and cooperation.

”It is in this spirit that we are giving a moratorium of one month before the Commission will start firm enforcement,”

“We have heard and you have genuine issues and the government has the responsibility to address the problems but generally, let us talk to ourselves too.

”There are also gang-ups to exploit consumers by traders,”

More News...

A Heart Cry of the Nigerian Youth: Who Will Hear Us?

A Heart Cry of the Nigerian Youth: Who Will Hear Us?

The underdevelopment of Ijebu-Jesa, my Native Nazareth (1)

The underdevelopment of Ijebu-Jesa, my Native Nazareth (1)

Governor Umo Eno Defects to APC, Cites State Interest and Need for Federal Alignment.

Governor Umo Eno Defects to APC, Cites State Interest and Need for Federal Alignment.

Trump Threatens Elon Musk’s Government Contracts Amid Intensifying Feud

Trump Threatens Elon Musk’s Government Contracts Amid Intensifying Feud

FROM MARGINS TO MOMENTUM: THE LAGOS YOUTHS STORY

FROM MARGINS TO MOMENTUM: THE LAGOS YOUTHS STORY

FG Declares June 6th and 9th, 2025, as Public Holidays For Eid-ul-Adha Celebration

FG Declares June 6th and 9th, 2025, as Public Holidays For Eid-ul-Adha Celebration

This Tinubu You Hate Today You Will Learn To Love Without Duress Tomorrow 

This Tinubu You Hate Today You Will Learn To Love Without Duress Tomorrow 

Lagos Commissioner Engages Informal Youths on the Streets, Unlocks Access to Health and Social Reintegration

Lagos Commissioner Engages Informal Youths on the Streets, Unlocks Access to Health and Social Reintegration

About Us

Parrot Reporters is an independent and non-partisan news platform with special focus on Nigerians in Diaspora cum news within and outside the shore of Nigeria.


Our aim is to celebrate the exploits of Nigerians in diaspora particularly in Southern Africa and other parts of the world.

Categories

  • Business
  • Comic
  • Cover Stories
  • Crime
  • Economy
  • Editorials
  • Entertainment
  • Health
  • Interviews
  • Nigerians In Diaspora
  • Opinion
  • Other News
  • Politics
  • Sports
  • Tourism
  • Videos
  • World News

Follow Us

COPYRIGHT © Parrot Reporters
No Result
View All Result
  • Browse
    • Sports

© Parrot Reporters

 

Loading Comments...