The Federal Competition & Consumer Protection Commission (FCCPC) has revealed that the embattled Abuja-based Chinese Supermarket labelled all its products in Yuan.
The action which it described as against the law in Nigeria and constitutes a violation of Nigerian law.
The acting Executive Vice Chairman of the commission, Adamu Abdullahi, in an interview with Channels TV on Sunday, said the commission is still considering appropriate sanction to take.
He added that the owner has also been mandated to post an open-to-all-customers notice.
Last Sunday, Nigerians expressed their displeasure on the policy of the supermarket restricting entry solely to Chinese nationals, excluding Nigerians from patronising the establishment.
This report sparked widespread condemnation as Nigerians voiced their concerns over the discriminatory treatment.
He said, “Yes, she came to the commission in time and we went to the supermarket with her, she opened it and the discoveries were just enormous. The Chinese embassy and Chamber of Commerce were there represented.
“We discovered that all the products were labelled in Yuan and that is the only currency they accept. That is against the law in Nigeria. we don’t sell products in foreign currency. Everything sold in Nigeria should be in its currency.
“And then the issue of discrimination that they only allow into the supermarket has been confirmed and we have now instructed that she must put up a notice in front of that shop that says everybody can go into the supermarket and shop. Also the issue of Yuan and the display of prices. We are discussing with her to put things right.”
The acting chairman said, “At the same time, we are also discussing sanctions because a wrong has been done and bad behaviours lead to consequences. So we would look at our law and find out what those consequences are and apply them.
There is a fine of N10m and then 10 per cent of last year’s turnover for the company but we are still looking at the issues.”
Abduallhi also gave an update on enforcement compliance at the 4u and Sahad stores. He disclosed that the companies involved have realised their mistakes and have ensured 95 per cent compliance with the directives given.
Speaking further, the FCCPC boss said the management of multichoice has submitted a four-page letter to the commission explaining reasons for the recent hike in the price of its products, beginning from May 1, 2024.
He said though the company remains a dominant provider of cable television in the country, the commission will not hesitate to wield its stick if the reasons are not justifiable.
He said, “Also yesterday, we got a four-page letter from Multichoice telling us the reasons for the price increase. What we need to do is bring in the Nigerian Communications Commission, the sector regulatory agency and even the National Broadcasting Commission. we would look at the variables that caused the rise, At a glance, I saw things like the cost of electricity and, the cost of dollars for spare parts. We would go through these items individually and find out how they have affected their operations.
“At the same time, they are not supposed to do so because you are the only provider of the services in the market and abuse your dominant position in the market. And if by chance we confirm that it is what they are doing, we would go by the law and do what we are supposed to do.”
