Subscribe to our newsletter

advertisement

FCCPC Not A Price Control Board~ Bello
2258
282
6/30/2025, 5:00:00 PM
63
3/19/2025, 7:38:27 PM
By Eniekenemi Atoukudu - 3/19/2025, 7:29:45 PM
views 2287
The Federal Competition and Consumer Protection Commission (FCCPC) is not a Price Control Board, according to its Executive Vice Chairman, Mr. Tunji Bello. Speaking at the 2025 World Consumer Rights Day celebration in Abuja today, he addressed public misconceptions, clarifying that the FCCPC is not responsible for price regulation. His words, “Permit me to briefly respond to a very concerning trend. Which is what I consider the misconception of the role of FCCPC in some quarters. I observe this tendency among some of our commentators in the media space who misunderstand the provisions of the law and inadvertently mislead the public. “To be sure, Sections 17 and 18 of the Federal Competition and Consumer Protection Act (FCCPA) 2018 expressly vest the Commission with the statutory authority to regulate competition and consumer protection across all sectors in our national life which is consistent global best practices. “This notion was, in fact, recently affirmed by the court of competent jurisdiction. In one word, the law charges the FCCPC to champion the rights of consumers of goods and services in Nigeria. “It is, therefore, very disturbing to hear or read parochial arguments of those who, out of ignorance of the law, seek to erect walls of sophistry against FCCPC in its discharge of this clear mandate. “The Commission has never claimed or pretended to be a price control board. Rather, we get involved when the rights of consumers are breached or when the market is being manipulated in a manner that impedes fair competition.”
News on the go. Anytime, anywhere!