Olusegun Adeyemo
The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned traders in Lagos State against artificially inflating prices and selling substandard products.
The warning came on Wednesday during a Market Engagement Forum organised by the commission in Lagos. Speaking on behalf of the FCCPC’s Executive Vice Chairman and CEO, Mr. Tunji Bello, Mrs. Bridget Etim, the Principal Consumer and Business Education Officer, reaffirmed the commission’s commitment to fair trade and consumer rights as outlined in the Federal Competition and Consumer Protection Act of 2018.
Bello emphasized that all businesses, regardless of size or location, are legally bound by the FCCPA. He revealed that recent inspections uncovered expired rice being re-bagged and marketed as premium brands at Daleko Market — a practice he described as “illegal and dangerous,” warning that such actions pose serious health risks and undermine ethical traders.
The FCCPC has expanded its market oversight, with recent operations targeting key markets such as Mile 12 and Alaba International.
At Mile 12, the state’s largest food market, the commission identified multiple infractions, including tampered scales, underweight sales, repackaged spoiled produce, and suspected price-fixing on staple items like rice, pepper, and yams.
At Alaba International Market, known for electronics, the FCCPC found the sale of counterfeit items disguised as fairly used (“Tokunbo”) products. Other issues included fake warranty claims and coordinated price-fixing of items such as televisions, phones, and generators.
“These are not minor offenses,” Bello stated. “They impact household finances, endanger consumers, and destroy trust in the market. They violate key sections of the FCCPA 2018, which prohibit deceptive and unfair practices.”
He added that such misconduct not only damages market integrity but also places honest businesses at a disadvantage.
While acknowledging the financial pressures faced by traders, Bello stressed the FCCPC’s dual role: protecting consumers while voicing legitimate business concerns to relevant authorities.