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Market Alert: FCCPC cautions consumers against possible ‘Black Friday’ frauds

Photo: Hive

*Nigeria’s Federal Competition and Consumer Protection Commission says credible intelligence indicates the customary seasonal sales at deep discount on a specific Friday, otherwise known as ‘Black Friday’, may witness an increase of fake online stores, including scams, misrepresentation and other exploitative conduct during festive seasons

Isola Moses | ConsumerConnect

As the annual festive seasons approach, the Federal Competition and Consumer Protection Commission (FCCPC), in Nigeria, says it has received credible intelligence that the customary seasonal sales at deep discount on a specific Friday, otherwise known as “Black Friday”, may witness an increase of fake online stores by 135 percent, including scams, misrepresentation and other exploitative conduct.

ConsumerConnect reports the market regulatory Commission, in an advisory Mr. Babatunde Irukera, Executive Vice-Chairman/ Chief Executive Officer (EVC/CEO) of FCCPC, issued Thursday, November 23, 2023, said the information is corroborated by publicly available reports, such as Netcraft.

Black Friday is “the Friday after Thanksgiving in the United States (US).” It traditionally marks the start of the Christmas shopping season in the American country.

Many stores offer ‘highly promoted sales at discounted prices’ and often open early, sometimes as early as midnight or even on Thanksgiving.

The advisory noted: “The Commission advises consumers to be vigilant and discerning in this period and to demand and insist on their rights, particularly with respect to full and transparent disclosures.

“Consumers should only patronise trusted and credible platforms and exercise caution to avoid being victims of fraud and other exploitation.”

Irukera stated: “For reports and inquiries, please visit our Web site at: www.fccpc.gov.ng and follow us on our social media handles: @fccpcnigeria or fccpcnigeria, as the case may be.”

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