The Federal Competition and Consumer Protection Commission (FCCPC) has opened its Oyo State office to ensure healthy competition among traders and protect the rights of consumers across the state.
Dr Olubunmi Otti, Head of FCCPC office, Oyo State, disclosed this on Tuesday during a sensitisation programme at Agbeni Market, Ibadan.
Otti said the commission’s presence in the state would promote fairness in the marketplace and guarantee that consumers are treated with respect.
She explained that FCCPC was not established to fix the prices of goods and services but to encourage fair, transparent, and ethical business practices.
Otti urged traders to embrace honesty in their transactions, stressing that fair competition benefits both consumers and business owners.
Mr Segun Ogunleye, Principal Consumer and Business Education Officer, FCCPC, said the commission’s mandates include promoting fair competition, protecting consumer rights, regulating mergers, monitoring markets, and providing consumer education.
Ogunleye noted that FCCPC is empowered by law to investigate anti-competitive practices, conduct raids, issue summonses, prosecute offenders, impose penalties, and take legal action to safeguard consumer welfare.
“These enforcement powers enable the commission to act swiftly against offenders, ensuring compliance with existing laws and fostering a level playing field for businesses,” he said.
Abdul-Ganiyu Abdul-Lateef, Babaloja of Agbeni-Amunigun Market, expressed gratitude to the commission for enlightening traders on their rights, consumer protection laws, and the need for fairness in dealings with customers.
He also called on FCCPC to help investigate the Value Added Tax (VAT) mission of the Federal Inland Revenue Service (FIRS) at the market, which he said could amount to multiple taxes.
Some traders at the market lamented that some distributors were exploiting traders through unfair pricing and unethical practices.
They urged FCCPC to investigate such complaints to protect both traders and the wider consumer population.
The traders commended the intervention of FCCPC and pledged to cooperate with the commission in fostering transparent business dealings.
They also promised to ensure that consumers are not subjected to unfair treatment or exploitation.
