UPDATED: FG seals popular Abuja store over deceptive pricing

On Friday, the Federal Competition and Consumer Protection Commission closed the well-known supermarket Sahad Store in Abuja's Garki neighbourhood.

According to the FCCPC, the store's pricing fixing practices are opaque, which is why it was closed.

This occurs 24 hours after President Bola Tinubu unveiled strategies to address the causes of the nation's food crisis.

On Thursday, the federal government and state governors decided to form a committee to address the nation's problem of product hoarding.
Following President Bola Tinubu's meeting on Thursday at the Presidential Villa in Abuja with governors, heads of Security Agencies, and a few ministers, Minister of Information and National Orientation Mohammed Idris revealed this.

Idris claimed that some traders were stockpiling food items and said that the security services were supposed to work with governors to combat the threat.

"Mr. President has decided to form a committee in order to expand on the discussion that took place during the recently ended meeting. Naturally, you are aware that there is no way to address every issue brought up during the meeting, so it will continue indefinitely.
The state governors have instructed the National Security Adviser, the Director General of State Services, and the Inspector General of Police to work together to investigate the matter of individuals hoarding goods.

In order to keep prices under control and put food on the tables for the majority of Nigerians, the country currently needs food to be made available to the public. "So the governors and Mr. President have taken this decision that security agencies will collaborate with the state governors to ensure that this ends." Other commodity traders are busy hoarding these commodities in hopes that Nigerians will suffer or that they will profit more as a result.
The Sahad Store management has been charged by the Federal Government with undercharging customers by charging prices that differ from those displayed on the shelves.

Adamu Ahmed Abdullahi, the acting executive vice chairman of the FCCPC, oversaw the enforcement team.

Abdullahi told reporters during a press conference following the store's closure that the commission's initial probe had shown that the supermarket's management was undercharging patrons.

The FCCPC stated that the store would stay closed until the conclusion of additional investigation, stating, "We have discovered that these individuals are engaging in deceptive pricing and price manipulation, which violates Section 115(3) of the legislation that stipulates that a buyer is not obligated to pay a price that is greater than the one that’s on display.”
According to Section 155, any corporate person found in violation faces a fine of up to 100 million naira, and the directors of the company themselves face penalties of up to 10 million naira each upon conviction, six months in jail, or both.

Our actions today have ensured that they abide by the law. When we first called them, they didn't show up to defend themselves. Ultimately, we asked the lawyer they sent if he was familiar with the case's facts. He denied being.

"They must make sure they complete all necessary tasks in order to unseal the store."

Details to follow.