News
FCCPC backs down on price control
FCCPC backs down on price control
Against the backdrop of the controversies generated by its threat to intervene in the markets over rising prices of commodities, the Federal Competition and Consumer Protection Commission, FCCPC, has said it will not regulate market prices.
This is contrary to a statement attributed to the FCCPC Executive Vice Chairman, Mr. Tunji Bello, last week, which gave a month’s notice to traders and other market stakeholders involved in what he called ”exploitative pricing”, threatening to crash their prices or face action from the Commission.
However, the FCCPC insisted it would enforce laws against practices that undermine fair competition, adding that it would protect Nigerian consumers by tackling price fixing and other exploitative practices in markets across the country.
The Commission, in a statement issued by Ondaje Ijagwu, Director, Special Duties (& Strategic Communication) in Abuja, yesterday said, “While promoting competition is essential for economic health, as evidenced in sectors like telecommunications, it is equally important to enforce laws against practices that undermine fair competition.
“The FCCPC remains committed to a balanced approach that respects the dynamics of a free market while ensuring that consumers are protected from harmful practices.
READ ALSO:
- Rivers crisis: Fubara warns police commissioner against taking sides
- Commuters stranded in Abuja as transport fares double after fuel price hike
- Osimhen receives grand welcome from Galatasaray fans
“We encourage all businesses to engage in ethical and lawful practices that contribute to a fair and competitive marketplace. The FCCPC does not seek to suppress private enterprise; our role is to ensure that the market operates on principles of fairness, transparency, and accountability. When businesses, as illustrated by the cement sector case, engage in practices that harm consumers, the FCCPC will take decisive action.”
The FCCPC pledged to work collaboratively with all stakeholders; businesses, consumer groups, and other government agencies, to address both the immediate and remote causes of exploitative pricing, adding, “Our approach combines enforcement with cooperation, aiming to protect consumers and maintain a healthy competitive environment.”
According to the organisation, it has given a one-month moratorium before enforcement begins, providing businesses with the necessary time to adjust their practices and ensure full compliance with laws aimed at protecting consumers and fostering fair competition.
It added “The FCCPC stands firm in its commitment to enforcing the Federal Competition and Consumer Protection Act (FCCPA) 2018. We will continue to monitor the marketplace and take action against any business practices that violate the law.”
“Consumers and businesses alike can trust that we will remain vigilant in upholding the principles of fair competition and consumer protection.”
The commission asserted that prices in a competitive marketplace are determined solely by the forces of supply and demand, adding, that it did not, therefore, contemplate price control, having considered it outside the scope of its responsibilities.
“We have never considered, nor will we ever consider, intervening in the market to regulate prices. Any claims to the contrary are baseless. Our recent directives are not about controlling prices but are focused on curbing exploitative practices and anti-competitive behaviours that distort the marketplace and harm consumers.”
FCCPC backs down on price control
News
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested an Abuja-based real estate agent, Hajia Adama Ahmed Adamu, in connection with an alleged ₦288 million property fraud, the agency confirmed on Wednesday.
According to the EFCC, operatives of its Ilorin Zonal Directorate apprehended Adamu following a petition from a complainant, Alhaji Tanko Yawale, who alleged that the agent collected the funds under the pretext of facilitating the purchase of a property at House 31, Haile Selassie Street, Asokoro, Abuja.
READ ALSO:
- Tinubu Govt Unveils National Laureate Prize to Reward Best Theses
- Foreign Intelligence Operations Behind Recent Nigeria Killings – Gumi
- Arise News Anchor Ikokwu Quits Journalism, Joins Politics
“Following the payment, Hajia Adamu allegedly failed to provide valid property documents and became evasive, raising suspicion and prompting a formal petition to the EFCC,” the commission stated on its official X handle.
Property-related fraud continues to be a recurring concern in Nigeria’s real estate sector, particularly in major cities like Abuja, where unsuspecting buyers often fall victim to agents posing as legitimate intermediaries. In response, the EFCC has intensified enforcement against land and housing scams, urging Nigerians to verify ownership and documentation before making payments.
The suspect is currently in EFCC custody as investigations continue. The commission also reiterated a warning to the public to remain vigilant against fraudulent property schemes and to report any suspected cases promptly.
EFCC Arrests Abuja House Agent Over ₦288 Million Property Fraud
News
Alkali resigns as Transport minister to chase Gombe governor’s seat
Alkali resigns as Transport minister to chase Gombe governor’s seat
The race for Gombe State’s Government House has officially claimed its latest heavyweight contender. Saidu Ahmed Alkali has stepped down from his role as the Minister of Transportation to focus entirely on his 2027 governorship bid.
Alkali’s exit follows a high-profile meeting with President Bola Tinubu at the Presidential Villa on Tuesday.
His departure was formalized via a circular from the Office of the Secretary to the Government of the Federation (SGF), Senator George Akume.
The move is not just about personal timing; it’s about legal compliance. Alkali is adhering to:
* Section 88(1) of the Electoral Act, 2026: Which mandates officials to vacate office before seeking elective posts.
* The INEC Timetable: With party primaries for the 2027 elections looming, the window for transition is closing.
* Presidential Directive: President Tinubu has been firm that any cabinet member eyeing an elective seat must resign before the primary process begins.
Alkali, a veteran politician and former Senator for Gombe North, is now the third member of the Federal Executive Council (FEC) to trade their ministerial portfolio for a campaign trail.
His resignation leaves a vacancy in the Ministry of Transportation at a critical time for the nation’s infrastructure projects, but signals a tightening of the political battlefield in Gombe.
The circular confirming the development was issued by the Permanent Secretary, General Services Office, Ibrahim Kana.
The circular stated that the directive “followed the provisions of Section 88(1) of the Electoral Act, 2026, as well as the timetable released by the Independent National Electoral Commission (INEC) for party primaries ahead of the 2027 election.”
News
US Senator Ted Cruz Alleges Nigerian Officials Behind Christian Killings
US Senator Ted Cruz Alleges Nigerian Officials Behind Christian Killings
United States Senator Ted Cruz has alleged that some Nigerian officials are complicit in attacks on Christians, warning that the United States could impose sanctions on those found responsible.
Cruz made the claim while reacting to the recent Plateau killings, particularly the deadly attack in Jos North area of Plateau State.
In a post on X, the lawmaker stated that American authorities are aware of those allegedly enabling the violence. He accused certain officials of creating an environment where Christians are “routinely persecuted and slaughtered,” adding that the U.S. has the tools to hold such individuals accountable.
The remarks followed a Palm Sunday attack on Angwan Rukuba, where gunmen invaded the community around 8:30 p.m., killing at least 12 people. Police confirmed the victims included 10 men and two women, with additional bodies later recovered during search operations.
The timing of the attack, coinciding with a major Christian observance, has heightened concerns about religious violence in Nigeria, particularly in the Middle Belt region.
READ ALSO:
- ‘I Have Not Resigned’ – Power Minister Adelabu Debunks Viral Resignation Report
- Benue Declares One-Week Easter Holiday for Civil Servants
- JAMB Releases 2026 UTME Mock Results, Delists Over 20 CBT Centres
Governor Caleb Mutfwang visited the affected community, expressing sympathy to victims’ families and vowing justice.
“Your pain is my pain, and the pain of Plateau State. My administration will pursue justice relentlessly until the perpetrators are brought to book,” he said.
The state government also announced emergency measures, including free medical treatment for the injured and dignified burials for the deceased.
To prevent further breakdown of law and order, authorities imposed a 48-hour curfew in Jos North, which lasted from midnight March 29 to April 1, 2026. Security presence was also reinforced, with additional personnel deployed to stabilise the area.
Security agencies have since intensified operations to track down those responsible for the attack, while residents remain on edge.
Cruz’s comments have reignited international scrutiny over Nigeria’s security situation, especially recurring violence in the Middle Belt.
However, the Federal Government of Nigeria has consistently rejected claims of targeted religious persecution, maintaining that the violence is driven by criminality, insurgency, and communal conflicts rather than a coordinated campaign against Christians.
President Bola Tinubu has also dismissed allegations of religious genocide, stating that Nigeria’s challenges stem from terrorism and extremism, not faith-based targeting.
Similarly, National Security Adviser Nuhu Ribadu has engaged with U.S. officials in past diplomatic efforts to clarify the country’s security realities.
Despite these assurances, incidents like the Plateau attack continue to raise both local and global concerns, with growing calls for stronger action to curb violence and ensure accountability.
US Senator Ted Cruz Alleges Nigerian Officials Behind Christian Killings
-
Entertainment2 days agoFunke Akindele, Toyin Abraham Spark Reactions Over Alleged Snub at Iyabo Ojo’s Premiere
-
metro3 days agoJos Attack: Plateau Govt Declares 48-Hour Curfew After Deadly Assault
-
Education2 days agoWAEC Releases 2026 WASSCE Timetable for School Candidates
-
Auto1 day agoLagos NURTW Chairman Sego Distributes Exotic Cars, Luxury Items to Cabinet Members (Video)
-
metro2 days agoCars Torched as South Africans Protest Alleged Nigerian ‘Igbo King’ Coronation
-
News2 days agoUK Raises Visa Costs, Tightens Immigration Rules From April 8
-
Auto3 days agoMotoring World marks 30 years, set to rally industry leaders in Lagos
-
metro3 days agoDebate as OPM Pastor Marries Autistic Man to Older Woman


