Sahad Store, a prominent supermarket located in the Garki area of Abuja, faced closure as the Federal Competition and Consumer Protection Commission (FCCPC) took decisive action against alleged price-fixing practices.
The FCCPC sealed the store, citing concerns over the lack of transparency in its pricing mechanism.
The closure came as part of a broader effort by the federal government to address issues related to the food crisis across the country.
The decision to shut down Sahad Store followed a meeting presided over by President Bola Tinubu, during which measures to tackle hoarding and price manipulation were discussed.
The FCCPC enforcement team, led by Acting Executive Vice Chairman Adamu Ahmed Abdullahi, conducted an inspection at Sahad Store.
Abdullahi highlighted that the preliminary investigation revealed discrepancies between the prices displayed on shelves and those charged to customers.
This contravenes consumer protection laws and undermines transparency in pricing, as stipulated by Section 115(3) of the law.
The FCCPC emphasized that Sahad Store would remain closed until further investigations are completed.
The commission outlined the legal repercussions for such violations, including hefty fines and potential imprisonment for company directors.
Efforts to engage Sahad Store’s management proved futile initially, as they failed to appear before the commission. Even when a lawyer represented them, he admitted unfamiliarity with the facts of the case.
The FCCPC’s actions underscore the government’s commitment to ensuring fair business practices and protecting consumers from exploitation.
By holding Sahad Store accountable, authorities aim to uphold transparency and integrity in the retail sector, sending a clear message to other businesses to adhere to regulatory standards.