• About Us
  • Contact Us
  • Privacy & Policy
Sunday, July 6, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Nigerian Authorities Battle Cartels: FCCPC Fights Price-Fixing Schemes to Curb Exploitation of Consumers

Vincent Amadi by Vincent Amadi
June 11, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
Nigerian Authorities Battle Cartels: FCCPC Fights Price-Fixing Schemes to Curb Exploitation of Consumers
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


Federal Competition and Consumer Protection Commission (FCCPC) has affirmed that traders are bunching together to form cartels in several markets, formal and informal, to subjectively fix costs 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 endured.
Adamu said that such cartels are against the law, thus unacceptable to the Commission, and should be disbanded as quickly as possible.


“In the marketplace, 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 costs 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 educated them that what they are doing is wrong and against the law, and we demanded that they disband such affiliations. However, we are also working with market administrators/management to teach 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, maybe, awaken the awareness of others to.”
He appealed to manufacturers to stand by the rules and guidelines of engagements to maintain a strategic distance from 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 finds that the cost is different. That’s highly misleading, and we frown at that.”
Meanwhile, the Acting Executive Vice Chairman, said the Commission is deeply committed to the cause of teaching students and other youth groups on the significance of demanding their rights at all times and empowered them not to hesitate to report to the Commission any cause of shortchange.

Tags: businessnigeria
Vincent Amadi

Vincent Amadi

Related Posts

Breaking: Gunmen kill 11 Ebonyi indigenes at Ogboji meeting in Anambra. Survivor recounts horror.
News

Breaking: Gunmen kill 11 Ebonyi indigenes at Ogboji meeting in Anambra. Survivor recounts horror.

4 days ago
Mohbad: Court Dismiss Mohbad’s Father’s Case Against Naira Marley, Sam Larry
News

Mohbad: Court Dismiss Mohbad’s Father’s Case Against Naira Marley, Sam Larry

4 days ago
Speed Darlington Rejects NAPTIP Summons, Denies Allegations of Rape and Cyberbullying
News

Speed Darlington Rejects NAPTIP Summons, Denies Allegations of Rape and Cyberbullying

6 days ago
US based Nigerian CEO arrested in US for fraud and  money laundering
News

US based Nigerian CEO arrested in US for fraud and money laundering

1 week ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Tinubu, Brazil Forge Alliance to Boost Nigeria’s Agricultural Exports
National

Tinubu, Brazil Forge Alliance to Boost Nigeria’s Agricultural Exports

2 hours ago
Legislature and judiciary servants of Tinubu, not independent, says Buba Galadima
National

Legislature and judiciary servants of Tinubu, not independent, says Buba Galadima

1 day ago
ASUU UNIJOS Declares Strike Over Unpaid June 2025 Salaries
National

ASUU UNIJOS Declares Strike Over Unpaid June 2025 Salaries

2 days ago
DHQ: Military Not Empowered to Offer Amnesty to Bandits or Terrorists
National

DHQ: Military Not Empowered to Offer Amnesty to Bandits or Terrorists

2 days ago
Kidnap victim who claimed to be my brother lied, I only have a sister — Zamfara governor
National

Kidnap victim who claimed to be my brother lied, I only have a sister — Zamfara governor

4 days ago
Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism
International

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism

5 days ago

POLITICS

Arewa Youths, NAN Slam El-Rufai, Amaechi Over INEC Allegations

Arewa Youths, NAN Slam El-Rufai, Amaechi Over INEC Allegations

1 hour ago
Seven Akwa Ibom Lawmakers Defect to APC, Citing Party Divisions

South-South APC Endorses Tinubu for 2027 Presidential Election, urges Fubara and Diri to join the APC.

1 hour ago
Legislature and judiciary servants of Tinubu, not independent, says Buba Galadima

Legislature and judiciary servants of Tinubu, not independent, says Buba Galadima

1 day ago
Wike Challenges ADC Leaders to Show Scorecard Ahead of 2027 Elections 

Wike Challenges ADC Leaders to Show Scorecard Ahead of 2027 Elections 

1 day ago
2027 election: I will support Peter Obi if he gets coalition’s ADC presidential ticket — Lamido

2027 election: I will support Peter Obi if he gets coalition’s ADC presidential ticket — Lamido

1 day ago
Presidential ticket  will be coalition’s biggest challenge — Datti Baba-Ahmed

Presidential ticket will be coalition’s biggest challenge — Datti Baba-Ahmed

2 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

1 week ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

2 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

3 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

3 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

3 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

4 weeks ago

E & P

Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks
Sports

Chelsea Target Arsenal’s Ethan Nwaneri Amid Contract Talks

by Steven Atogi
21 hours ago
0

England international Ethan Nwaneri has emerged as a transfer target for Chelsea amid ongoing Arsenal contract discussions.The 18-year-old attacking midfielder...

Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

Arsenal Close In on Madueke Transfer After Agreeing Personal Terms

23 hours ago
Just In: Thomas Partey charged with rape and sexual assault

Just In: Thomas Partey charged with rape and sexual assault

2 days ago
Liverpool striker Diogo Jota and brother dies in ghastly car accident

Liverpool striker Diogo Jota and brother dies in ghastly car accident

3 days ago
Luis Enrique: We Can’t Stop Messi Without a Collective Effort

Luis Enrique: We Can’t Stop Messi Without a Collective Effort

7 days ago
Fenerbahçe Closes In on €10M Transfer Deal for Colombian Striker Jhon Durán

Fenerbahçe Closes In on €10M Transfer Deal for Colombian Striker Jhon Durán

1 week ago

YOUR THOUGHT & HISTORY

El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
1 hour ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
1 week ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
2 weeks ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
4 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

El-Rufai Plans New Party as ADC Backup Against APC Interference

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

July 6, 2025
Arewa Youths, NAN Slam El-Rufai, Amaechi Over INEC Allegations

Arewa Youths, NAN Slam El-Rufai, Amaechi Over INEC Allegations

July 6, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address