Price Fixing: FCCPC warns Lagos traders against exploitative practices, urges consumer protection

*Top officials of the Federal Competition and Consumer Protection Commission engage the Balogun Business Association members on the need to promote fair business practices, and strengthen consumer protection in the Nigerian economy

Isola Moses | ConsumerConnect

The Federal Competition and Consumer Protection Commission (FCCPC) has warned traders at the Lagos Trade Fair (LTF) Complex, and related market events against exploitative market practices, including price fixing, and the illegal “no return, no refund” policy.

FCCPC issued the warning Thursday, March 5, 2026, during the Commission’s sensitisation visit to the Balogun Business Association (BBA) market at the Trade Fair Complex, in Lagos, the commercial heartbeat of Nigeria.

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The officials of the regulatory Commission had visited the facility to seek the collaboration of market leaders to promote fair business practices and strengthen consumer protection in the economy.

Speaking during the visit to the Trade Fair Complex, Mrs. Olubunmi Dorcas-Otti, Zonal Coordinator, South-West Office of FCCPC, said the engagement was aimed at educating traders on the provisions of the Federal Competition and Consumer Protection Act and the commission’s regulatory mandate, agency report said.

Mrs. Dorcas-Otti emphasised the Commission’s regulations are designed to support business growth while safeguarding consumers from harmful products and unfair market practices.

She also stated: “We encourage importers and manufacturers to make quality products and services their watchword and to avoid harmful and substandard goods.

“The Zonal Coordinator, South-West Office of FCCPC further explained that practices, including price fixing and refusal to refund defective goods are prohibited under the relevant law in Nigeria.

Dorcas-Otti asserted: “Product price fixing is anti-growth and prohibited by law. ” ‘No return, no refund’ is a tradition without a human face and the Commission frowns on it.

“The FCCPC top official averred though the Commission has the legal authority to enforce compliance, it yet prefers to work cooperatively with market leaders to ensure seamless regulation across the markets.

She said: “As we are empowered by law to regulate business activities, consumer products and services, we still seek your cooperation to work seamlessly.”

Earlier in his remarks, Mr. Ukason Henry-Kissinger, Head of Corporate Affairs of FCCPC, said the Commission had remained the country’s leading regulatory body for consumer protection and fair competition.

Henry-Kissinger also affirmed that the FCCPC team’s visit to the Balogun Business Association (BBA) at the Trade Fair Complex was to enlighten traders on the “do’s and don’ts” of doing business in line with the market regulatory Act.

He also said: “We don’t want to be seen as enemies of the market.

“Through your collaboration, which this visit is meant to foster, we can approach regulatory issues with civility and avoid unnecessary disruptions in the market.

“Likewise, Mr. Peter Nwaebonyi, Head of Legal at FCCPC, said the law empowered the Commission to prosecute individuals or groups found violating consumer protection regulations.

Nwaebonyi urged the market leadership to support the Commission in identifying traders dealing in substandard and harmful products.

He noted: “We appeal for your cooperation to help fish out bad eggs trading in substandard and harmful goods so the market can remain safe for everyone.”

In his comment, Mr. Akidi Okey, Assistant General Secretary of the Balogun Business Association, said the market leadership consistently cautioned members against trading in substandard goods.

Okey also assured the Commission of the BBA support in promoting responsible business practices in the market.

The Assistant General Secretary, however, appealed to FCCPC to not visit the market with security operatives during enforcement activities.He said that such approaches often had created fear among traders.

According to him, the market leadership lauded the FCCPC team for its civil approach and invited the commission to attend the association’s enlarged Executive Council meeting scheduled for April to further educate traders on consumer protection laws.

The FCCPC team also included Mr. Olarenwaju Olusanya, Head of Department, Surveillance,Investigation and Legal, as well as Mr. Humphrey Akam-Emmanuel, Head of Department, Consumer and Business Education of the Commission, report noted.

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