The Nigerian government has warned vendors of face mask and sanitizers of risking jail term if they increase prices of the products.
Since Nigeria confirmed its first case of coronavirus, it has been reported that the prices of face mask and sanitizers which are preventive measures have gone up.
This practice has now been warned against by Babatunde Iruekera who is the Chief Executive Officer of the Federal Competition & Consumer Protection Commission (FCCPC).
A statement issued read: “Any conspiracy, combination, agreement or arrangement to unduly limit or manipulate supply, in order to unreasonably enhance price or otherwise restrain competition is a criminal offence under S.108(1)(b) and (c), FCCPA.
“Any exercise or exploitation of undue pressure in selling or the sale of goods or services, or price manipulation between displayed, and selling price are also serious violations of the FCCPA under Sections 115(3) and 124(1).
“Taking advantage of the possibility of infection by a dangerous communicable disease to control supply, or unilaterally increase prices is predatory as it preys on the desperation of citizens.
“Considering the circumstances and the vital national interest/security this illegal conduct undermines, the Commission intends to strongly enforce the full letter of the law, including the fullest extent of penalties associated with this conduct.”
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