Increase price of face mask and sanitizers, go to jail - FG

The Federal Government has warned against jacking prices of face mask and sanitizers as fears over coronavirus heighten.

Babatunde Iruekera, the Chief Executive Officer of the Federal Competition & Consumer Protection Commission (FCCPC), warned vendors engaged in the practice that they could be prosecuted.

A statement issued reads: "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 under S.108(1)(b) and (c), FCCPA.

“Any exercise or exploitation of undue pressure in selling or the sale of goods or services, or price manipulation between displayed, and selling price are also serious violations of the FCCPA under Sections 115(3) and 124(1).

“Taking advantage of the possibility of infection by a dangerous communicable disease to control supply, or unilaterally increase prices is predatory as it preys on the desperation of citizens.

“Considering the circumstances and the vital national interest/security this illegal conduct undermines, the Commission intends to strongly enforce the full letter of the law, including the fullest extent of penalties associated with this conduct.”