The Federal Competition and Consumer Protection Commission (FCCPC) has issued a one-month ultimatum to businesses engaged in exploitative pricing practices, warning that non-compliance will result in stringent enforcement measures.
The warning came Thursday at a one-day stakeholders’ engagement on exploitative pricing where the FCCPC’s Executive Vice Chairman and Chief Executive Officer, Olatunji Bello, highlighted concerns over widespread price gouging and fixing.
In his address, Mr Bello disclosed the findings of recent market surveys conducted by the commission, which revealed rampant profiteering across various sectors, notably in retail.
