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FG identifies popular supermarket that inflates prices by 500% amid hardship

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A popular Nigerian super market that inflates the prices of imported goods has been identified by the Federal Competition and Consumer Protection Commission (FCCPC).

According to reports, the Vice Chairman of FCCPC, Tunji Bello, revealed this during a stakeholders’ meeting on exploitative pricing in Abuja.

Bello revealed that a fruit blender known as Ninja, which is sold in Texas, USA, for $89 (approximately N140,000), was being sold for N944,999 at a supermarket on Victoria Island, Lagos.

This marks a staggering price increase of over 500%.

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However, the FCCPC expressed concerns about this practice, noting that both imported and locally produced goods are being excessively overpriced, especially in retail markets.

The Commission has observed patterns of price manipulation, including price fixing by market associations and other anti-consumer practices.

Additionally, Bello disclosed that a recent visit to the same Lagos supermarket found the same blender priced at N750,000 just two weeks earlier, raising questions about the rationale behind such arbitrary price hikes, noting that similar exploitative practices were discovered in various supermarkets across Abuja, Kano, Port Harcourt, and Lagos, with prices being unjustifiably increased.

The FCCPC has resolved to implement stricter measures to address these practices and ensure that businesses adhere to fair pricing standards.

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Bello also issued a one month ultimatum to traders to immediately crash price of goods.

He said:

“Under Section 155, violators whether individuals or corporate entities face severe penalties including substantial fines and imprisonment if found guilty by the court.

”This is intended to deter all parties involved in such illicit activities. However, our approach today is not punitive. I, therefore, call on all stakeholders to embrace the spirit of patriotism and cooperation.

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”It is in this spirit that we are giving a moratorium of one month (September) before the commission will start firm enforcement, ” he said.

Bello said the government was aware of most of the problems raised by the market stakeholders.

”We have heard and you have genuine issues and the government has the responsibility to address the problems but generally, let us talk to ourselves too. There are also gang-ups to exploit consumers by traders,” he said.

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ICPC tracks N10bn FG, legislative projects in Osun

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In an effort to ensure value for money, accountability, and transparency in the implementation of public projects, the Independent Corrupt Practices and Other Related Offences Commission, ICPC, has commenced tracking of N10 billion worth of Federal Government-executed projects in Osun State.

The commission started the phase 7 of project tracking exercise at Boripe community, Egbedore Local Government area of the state, Temidire Estate, Osogbo, among others.

The N10 billion worth of projects include eight solar-powered boreholes, 120 solar streets light and some kilometers of drainage in the community.

The ICPC tracking team leader, Mary Oke, said that the the Commission will track projects valued at N10,470,872,906.60 in Osun State, ensuring that government-funded projects provide value for money and are executed according to specifications.

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Oke disclosed that exercise is part of the Commission’s mandate to promote accountability and transparency in the implementation of public projects.

Oke adds, “The Independent Corrupt Practices and Other Related Offences Commission, ICPC, is in the phase 7 of its Constituency and Executive Project Tracking Exercise in the State.

“The exercise, which include assessing the status of various constituency and executive projects, is to also ensure that public resources are judiciously utilized to deliver quality infrastructure and services to the citizens.

“Relevant stakeholders, including community members and civil society organizations should support the tracking exercise by providing the Commission with relevant information that can aid in achieving its objectives”.

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Meanwhile, the treasurer of Boripe community, Egbedore Local Government area of the state, Mr Olorunsola said that the federal government projects had impacted positively on the lives and exonomy of the community.

He disclosed that the solar street lights, installed over a year ago in the community has safe them from been attack by the people of underworld.

He said, “I want to enjoin members in the community to be vigilant and take good care of these facilities that we enjoy from the government.

“The government has done its own part and it is left to us to maintain and keep vigilant so that the people of underworld will not vandalise the facility.”

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Simon Ekpa: FG’s attempt to extradite self acclimated freedom fighter may hit brickwall

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The Federal Government’s attempt to extradite pro-Biafra agitator Simon Ekpa, from Finland to face terrorism charges in Nigeria may hit brickwall.

According to The Africa Report, this is due to Finnish legal restrictions.

The self-declared prime minister of the Biafra Government In Exile (BRIGE) was arrested alongside four others by Finland’s National Bureau of Investigation (NBI) over terrorism related activities.

The Finnish police said they suspect that Mr Ekpa “has contributed to violence and crimes against civilians in South-eastern Nigeria.”

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Nigeria’s defence chief, General Christopher Musa while reacting to the arrest, said the country will proceed to push for Ekpa’s extradition to Nigeria.

While Finland has confirmed Ekpa’s arrest, the country made it clear that, according to Finnish law, the country will not extradite its nationals outside the European Union or Nordic countries.

This further complicates Nigeria’s request since there is no extradition treaty between the two countries.

Even though Finland and Nigeria are in contact, the legal framework prohibits the transfer of citizens for trial in non-EU countries.

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According to reports, everything has to be done according to Finnish legislation, which has very strong protections for freedom of speech

“The issue of an extradition treaty is very fundamental. If there is no extradition treaty between the two countries, there can be no legal basis or justification for extraditing Ekpa,” a Lagos-based lawyer Festus Ogun said.

Vince Onyekwelu, former British Police Officer and National Security Risk Strategist said the chances of Ekpa’s extradition to Nigeria are also slim.

Onyekwelu said while appearing on Arise TV:

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“Professionally speaking, the Finnish Authorities have done their due diligence and have every right to arrest Simon Ekpa. It is left for the court to look into the request by the Chief of Defence Staff to extradite Ekpa to Nigeria. However, with the absence of an extradition treaty between Nigeria and Finland, Ekpa’s extradition will seem unlikely.”

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Minimum wage: Yobe Gov approves N70k for workers

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Yobe State Governor, Hon. Mai Mala Buni has approved the payment of N70,000 minimum wage to civil servants in the state effective December 2024.

This is contained in a memo signed by the governor, following recommendations by the committee on Minimum wage constituted by the state government.

The committee had recommended for a reconciliation of local government finances to ensure a hitch free transition process of the local government councils from the existing salary structure to the new minimum wage.

The reconciliation process which is nearing completion is expected to be concluded soon for approval, and quick enrolment of the local government employees into the new minimum wage salary structure.

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The committee had recommended for a reconciliation of local government finances to ensure a hitch free transition process of the local government councils from the existing salary structure to the new minimum wage.

The reconciliation process which is nearing completion is expected to be concluded soon for approval, and quick enrolment of the local government employees into the new minimum wage salary structure.

According to a statement signed by the spokesman to the governor, Mamman Mohammed, the Government expects civil servants in the state to reciprocate the gesture by putting in their best to ensure effective and efficient service delivery

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