*Tunji Bello, Executive Vice-Chairman and CEO of the Federal Competition and Consumer Protection Commission, expresses concern over the increasing cases of arbitrary and exploitative price hikes, stressing the need for improved collaboration with Economic and Financial Crimes Commission to address the issue in Nigeria

Gbenga Kayode | 绿帽献妻

Assuring improved protection of their interests in the economy, the Federal Competition and Consumer Protection Commission (FCCPC) and聽 Economic and Financial Crimes Commission (EFCC) have pledged to strengthen their collaboration to protect Nigerian consumers from exploitation.

Mr. Tunji Bello, Executive Vice-Chairman and Chief Executive Officer (EVC/CEO) of FCCPC, made this commitment during a courtesy visit to Mr. Olanipekun Olukoyede, Executive Chairman of EFCC, Thursday, August 15, 2024, at the EFCC Headquarters, in Abuja, FCT.

Bello, in a statement, expressed concern over the increasing cases of arbitrary price hikes, emphasising the need for a joint effort to address the issue.

The EVC/CEO of FCCPC, commended the anti-graft Commission’s expertise in surveillance and investigation, seeking its support to combat unfair trade practices in the Nigerian economy.

Speaking during the visit,聽 Olukoyede also acknowledged the challenges consumers are facing in the economy, and assured the market regulatory Commission of聽 EFCC鈥檚 full cooperation.

He emphasised the importance of a strong partnership between the two agencies in creating a fair and equitable market for Nigerian consumers.

The statement noted both regulatory Commissions agreed to intensify joint efforts at protecting consumer rights, and bringing perpetrators of economic crimes and unfair market practices to justice.

Meanwhile, Olukoyede has designated FCCPC’s Bello as an Ambassador to the EFCC.

This is coming barely a week after the FCCPC announced its desire to engage market leaders across the country to curb the exploitative pricing of consumer goods and services in Nigeria.