In a swift move, the Federal Competition and Consumer Protection Commission (FCCPC) sealed Sahad Store, a well-known supermarket located in the Garki area of Abuja, on Friday.
The commission cited lack of transparency in pricing as the reason behind the closure, signaling a crackdown on deceptive pricing practices.
This action follows closely on the heels of President Bola Tinubu’s recent announcement of plans to address factors contributing to the food crisis nationwide. Collaborating with state governors, the Federal Government agreed to establish a committee to address hoarding practices affecting product availability.
Minister of Information and National Orientation, Mohammed Idris, revealed this development after a high-level meeting convened by President Bola Tinubu at the Presidential Villa, Abuja, on Thursday.
Idris highlighted concerns over hoarding practices by some traders, emphasizing the need to ensure food accessibility for Nigerians.
The FCCPC enforcement team, led by Acting Executive Vice Chairman, Adamu Ahmed Abdullahi, sealed Sahad Store following preliminary investigations indicating customer exploitation through misleading pricing.
Abdullahi, addressing journalists after the closure, emphasized the violation of consumer rights, stating, “A consumer is not required to pay a price for any good or service higher than the one that’s on display.”
He underscored the legal ramifications, citing Section 115 (3) of the law and outlined penalties for contravention, including fines and potential imprisonment for corporate entities and directors.
The store will remain closed pending further investigation, with Abdullahi outlining steps for compliance before reopening.
Efforts to reach Sahad Store’s management for comment were unsuccessful at the time of reporting. Further details on the matter are expected to emerge as investigations progress.
