AFRICA

Concern As FCCPC Seals Sahad Stores Premises Over Alleged Dubious Price Tags

The Federal Competition and Consumer Protection Commission (FCCPC) on Friday sealed Sahad Stores at Area 11 in Abuja, for allegedly short-changing customers through misleading price tags on their products.

However, the development has elicited concerns as the Founder of the Stanbic IBTC Bank, Mr. Atedo Peterside, on his verified X (formerly Twitter) handle wondered if the move would not scare investors.

According to Peterside, his question to “those on the federal government’s economic team was if sealing up of an Abuja store is: Are these types of moves not likely to frighten away investors (local and foreign)?”

The closure of Sahad Stores came amid efforts by the President Bola Tinubu–led administration to address factors currently contributing to food inflation as well as rising prices of other commodities.

The enforcement was led by the FCCPC acting Executive Vice-Chairman, Adamu Ahmed Abdullahi, who accused the supermarket of misleading pricing practices, charging customers prices that differed from those displayed on the shelves.

Citing the Council’s Establishment Act, he said the company risks a fine of over N100 million if proven to have contravened the laws while the directors of the company themselves are liable upon conviction payment of N10 million each or imprisonment of six months or both.

Abdullahi, reportedly stormed the stores at about 9:20a.m. with heavily armed security operatives and interrogated the price of some goods which were found to be different from the price on the system.

He, therefore, ordered the evacuation of all staff from the six-storey building, after an engagement with the representative of the stores’ management.

According to the FCCPC enforcement team, there were different prices on the same goods from the same manufacturer, while some goods from the same manufacturer but different brands had the same price tag on the shelf – whereas the prices in the computer system were different for the different brands.

The FCCPC boss insisted the store must first be sealed despite pleas from the management.

He insisted a verification exercise and strict monitoring should be conducted to ensure appropriate prices were displayed on all goods.

Abdullahi, told journalists that the commission’s preliminary investigation found evidence of the supermarket’s management shortchanging customers, adding that the store would remain sealed until further investigations are completed.

He said, “What we have found out that these people are doing is misleading pricing and lack of transparency in the pricing, which is against Section 115 (3) of the law that says a consumer is not required to pay a price for any good or service higher than the one that’s on display.

“Section 155 states that any corporate person that contravenes is liable to a fine of N100 million or even more and the directors of the company themselves are liable upon conviction payment of N10 million each or imprisonment of six months or both.

“What we have done today is to make sure that they comply with the law. We initially called them to come and defend themselves but failed to show up. In the long run, they sent a lawyer whom we asked if he was familiar with the facts of the case. He said he wasn’t.

“To unseal the store, they have to make sure that they do what is required to be done.”

Chuks Okocha and James Emejo

Follow us on:

AriseNews

View Comments

  • your choice at a minimum price E-AUCTION E-AUCTION E-AUCTION E-AUCTION E-AUCTION Some Auction Vehicles/Cars For Sale
    Mama Africa #17,000 •Tomatoes Rice # *15,000* •Cap Rice #15,000 •My Food #17,000 •Mama Gold #17,500 •Ade Brazil #15,000 •Elephant Gold #15,000 •Royal Umbrella #15,000 Etc.
    Golf3= 500,000.
    Camry Tinny-Light=500,000.
    Tundra 1,300,000
    Toyota Exterra=850,000
    Toyota Camry big daddy=650,000
    Toyota Venza= 1.7million
    Toyota Avalon=850,000
    Toyota Rav4=950,000
    Toyota Prado=1.3million
    TOYOTA HILUX=2million
    Toyota Sienna=850,000
    TOYOTA 4-RUNNER=950,000
    Toyota Corolla=650,000
    Toyota Matrix= 700,000
    Toyota Highlander=950,000
    Toyota Picnic=500,000
    Tacoma 1.850,000
    Toyota Hiace Bus=950,000
    Toyota Tundra=1.5million
    Toyota Sequola=900,000
    BMW 5-series=1.960,000
    BMW 3-series=1.640,000
    BMW X6=2.670,000
    Ford Edge=700,000
    Ford Escape=600,000
    Honda Elantra=600,000
    Honda Baby-Boy=700,000
    Dyna Truck 900k
    TIPPER Head 6mill

    Honda Accord=550,000
    Honda CRV=650,000
    HONDA CIVIC=500,000
    HONDA EVIL-SPIRIT=750,000
    HONDA ODYSSEY=500,000
    Honda Pilot=850,000
    Nissan pathfinder=800,000
    Nissan Amanda=750,000
    Infinity=950,000
    Benz C250=N1.300,000
    Benz C300=1.6MILLION
    Benz ML350=2 million
    Benz ML300=1.5 million
    Benz ML550=2.6million
    Mercedes-Benz C-Class ₦1.3Million
    Mercedes-Benz E-Class ₦1.8Million
    Mercedes-Benz GLK ₦3.Million
    Es330 1.6
    Lexus C5 350=950,000
    IS250 1m
    Lexus Rx300=1.2 million
    Lexus Rx330=1.5 million
    Is350 2mill
    Gx470 1.8mill
    Lexus Rx350= 2 million
    ES350 2mill
    Land Rover Discovery ₦3.2Million
    Land Rover Freelander ₦3.6Million
    Land Range Rover Sport ₦4Million
    Acura MDX ₦1.8Million
    Pequot 206=350,000
    Pequot 406=470,000
    Pequot 607=650,000
    .....
    ((08166185400) (+234_915__6089_111)

Recent Posts

Trump Considers Kevin Warsh for Treasury Secretary, Role Of Chairman Of Federal Reserve

Trump is considering Kevin Warsh for Treasury Secretary, with a future possibility of him becoming…

2 hours ago

Hyundai Recalls 145,235 Electrified Vehicles In The US Due To Power Loss Issue

Hyundai has recalled 145,235 electrified vehicles in the US. due to potential loss of drive…

2 hours ago

‘We’re Going to Begin to License Actors’, Says AGN President in A Bid For Standardisation

AGN president Rollas has stressed the need for actor licensing to ensure fair compensation and…

2 hours ago

EU Closes Antitrust Investigation Into Apple’s App Store Rules After Complaint Withdrawal

EU regulators has closed a four-year investigation into Apple's App Store rules after the complainant…

2 hours ago

IPOB Denounces Simon Ekpa As A ‘Destructive Agent’, Clarifies He Was Never A Member Of The Group

IPOB distanced itself from Simon Ekpa, calling him a “destructive agent” who infiltrated and destabilised…

4 hours ago

Biden Calls ICC’s Arrest Warrants For Netanyahu, Gallant ‘Outrageous’

Biden has condemned ICC's arrest warrants for Netanyahu and Gallant, calling them "outrageous" amid global…

4 hours ago