Coronavirus: FCCPC Warns Against Increase In Prices Of Protective, Hygiene Products
Suppliers and retailers of basic safety and protective apparel such as face masks and latex gloves, as well as personal hygiene products like sanitizers and anti-bacterial wipes have been warned not to take advantage of citizens, with respect to preventing the spread of infections diseases.
The Federal Competition & Consumer Protection Commission (FCCPC) which issued the caution ex-plains that the indiscriminate rise in the prices of the products violates both moral codes and extant law which prohibits obnoxious trade practices.
According to a press statement from the FCCPC, the commission’s surveillance efforts reveal that some pharmacies and department stores are engaging in price gouging and manipulating supplies in a manner that distorts the market, or temporarily restricts availability.
It warns that any conspiracy, combination, agreement or arrangement to unduly limit or manipulate supply, in order to unreasonably enhance price or otherwise restrain competition is a criminal offence.
The commission, therefore, encourages consumers to report such arbitrary exploitative price increase or trade practices.
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