The Federal Competition and Consumer Protection Commission (FCCPC) has reopened Sahad Stores in Abuja after its closure over deceptive pricing practices on Friday.
The FCCPC earlier said that it closed down the store temporarily due to an alleged continued violation involving misleading pricing and lack of transparency.
A statement signed by the Acting Executive Vice Chairman/Chief Executive Officer of the FCCOC, Dr. Adamu Abdullahi on Saturday confirmed that it reopened that store on February 16, 2024, at about 7:00 PM after receiving a mutual understanding and commitment from the store to implement transparent pricing practices.
It said that it earlier received reports of misleading pricing practices whereby the store displayed lower prices on shelves and charged higher prices at checkout.
This offense, it said contravened Section 115 of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
“The Commission is aware that similar practices may be occurring at other FCMG outlets nationwide. These outlets are advised to cease such practices immediately to avoid consequences.
“Businesses are expected to display transparent pricing information to empower consumers to make informed purchasing decisions, especially during challenging economic times.
“The FCCPC remains committed to combating all forms of exploitative or misleading practices that undermine consumer rights.
“The FCCPA protects consumer rights and prohibits deceptive business practices. Section 115 outlines potential penalties for violations, including fines for organisations and imprisonment for directors,” the statement said.
It further urged all businesses to adhere to fair and transparent pricing practices to ensure consumer protection and a healthy market environment.
