FCCPC, LASCOPA unite against consumer exploitation

Nigeria's Federal Competition and Consumer Protection Commission (FCCPC) is joining forces with the Lagos State Consumer Protection Agency (LASCOPA) to combat consumer exploitation. The partnership will focus on critical market issues, including accurate price tagging, proper minimum labeling requirements, and clear return and refund policies.

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Consumers must be confident that the price they see is the price they will pay. They must be able to rely on the information provided about the products they buy. They must also know that where the law gives them the right to a refund, replacement, or repair, that right will be respected.

In Lagos, Nigeria's bustling commercial hub, millions of daily transactions occur across various platforms. The FCCPC's Executive Vice Chairman, Mr. Tunji Bello, represented by South West Coordinator Olubumi Otti, highlighted that these transactions fuel economic growth but depend heavily on consumer trust. "Consumers must be confident that the price they see is the price they will pay," Bello stated, emphasizing the need for reliable product information and respected refund rights.

Bello stressed that market confidence encourages consumer spending, fosters customer loyalty, and promotes fair competition. The engagement with stakeholders aims to underscore the importance of these seemingly ordinary business practices in building trust, enabling informed consumer decisions, and creating a level playing field for responsible businesses.

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That is why today’s engagement is so important. We are here to discuss three issues that affect consumers and businesses every single day: price tagging, minimum labelling requirements, and return and refund obligations. These may seem like ordinary aspects of doing business, but they play a vital role in building confidence in the marketplace.

The FCCPC reiterated its belief in engagement over confrontation, asserting that businesses are more likely to comply when legal obligations are clearly explained. "Stakeholder engagements such as this remain an important part of our regulatory approach," Bello said. Despite these efforts, the commission continues to receive complaints about avoidable consumer problems, indicating a persistent need for improved compliance.

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That is why stakeholder engagements such as this remain an important part of our regulatory approach. We expect businesses to deal with us honestly and transparently. Those expectations are not unreasonable. They are recognised and protected by law. Yet, every day, the commission receives complaints that show many consumers still face avoidable problems in the marketplace.