The Kano Public Complaint and Anti-Corruption Commission, has threatened to seize hoarded goods and prosecute perpetrators.
The chairman of the commission, Muhyi Rimingade, made the threat on Thursday while briefing newsmen on the hike in prices of goods across the nation.
According to him, the agency would not hesitate to seize hoarded goods as well as prosecute the culprits.
He explained that the agency would take decisive action against individuals or traders found to be hoarding essential commodities in order to maximise profits.
“The PCACC will swing into action and will not watch businessmen hoarding commodities. We know there is the issue of forex, but those that hoard goods, even if the Federal Ministry of Commerce does not act, we will seize hoarded goods and take the owner to court,” he said.
While expressing concern over the rampant hoarding and inflationary pressures, Rimingado emphasised the commission’s determination to fulfill its mandate.
“We are overwhelmed; this is the most essential part of our job.
“We have inspected rice mills and it is N58,000 company’s price,” he said.
Rinmingado also acknowledged that beyond forex and government policies, certain business practices exacerbate the situation.
He added that the agency would not fold its arms and watch some unpatriotic citizens continue to hoard essential commodities to the detriment of the common man which resulted in a high cost of living among Nigerians.
Recall that following the escalating prices of goods coupled with the attitude of some shylock traders, who formed the habit of hoarding their goods, the state governor, Abba Yusuf, recently convened a meeting with members of the business community in the state at the Government House where he appealed to them to stop flagrant increase in prices.
The meeting was the second of its kind convened to discuss the current worrisome state of businesses, trading, and merchandising, especially regarding high prices of goods, to find solutions to the problem.
The governor bemoaned the prevailing hunger situation in the state, with people, especially commoners finding it difficult to eat three times a day.
According to him, the trend had been worsened by the soaring prices of foodstuff, particularly rice, maize, beans, and millet, which he said had made the items unaffordable to the people.
He, therefore, urged the businessmen, including the manufacturers and merchandisers, to bring out essential commodities and sell them to the people at affordable rates to alleviate their sufferings.
“I urge you to bring out the foodstuff and other essential commodities from your warehouses and sell to the people at affordable rates so as to alleviate their predicament”, Yusuf said.
During the interactive session, some business leaders attributed the inflation to factors such as high exchange rates of the Dollar, production costs, unreliable power supply for local industries, and border closures.
They urged the governor to seek intervention from the Federal Government to stabilize the exchange rate, emphasizing the detrimental impact of inflation on both consumers and the business community.
