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FG May Penalize PoS Reps For Price-fixing

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Lagos Pos To Charge N500 On N10,000 Withdrawals

 

According to a statement made by the Federal Competition and Consumer Protection Commission, it is looking into attempts at price fixing by Point of Sales agents and will punish them if found guilty.

 

The PoS agents operating under the auspices of the Lagos Chapter of the Association of Mobile Money and Bank Agents in Nigeria recently announced plans to raise their transaction fees.

 

PoS agents already have revised price lists across the state, and according to the Public Relations Officer for the Lagos Chapter, Stephen Adeoye, they are trying to form a task force to implement the modifications.

 

He said, “To enforce this new price list is easy because we have a good relationship with the Lagos State Command, Police Force, and all the DPOs in the area. Very soon a task force will be set up in each zone so that they will work along with it.”

 

However, the FCCPC in a statement, signed by its Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera, on Wednesday noted that price fixing is against the law and distorts the market, prevents innovation and efficiency, and impacts consumers negatively.

 

It said, “The Federal Competition & Consumer Protection Act (2018) recognises indeed encourages the prerogative of businesses to organise in and as trade associations for acceptable purposes, such as ensuring and enforcing applicable standards and best practices, as well as a measure of self-regulation within the profession or trade.

 

“However, the same FCCPA copiously and extensively limits the scope and extent of such collaboration, particularly to exclude coordination with respect to scope or supply of services and price of services.

 

“The FCCPA expressly prohibits any price-fixing or agreement among undertakings (whether bilaterally or multilaterally) or by undertakings acting in consensus on the platform, or under the aegis of an association to fix prices, coordinate supply or any other commercially sensitive factors that can limit or substantially prevent competition; or otherwise distort the market.”

 

The commission stated that the FCCPA provides stiff penalties for cartels or any similar coordinated or collusive conduct among competitors, even at association levels. It said it is ready to enforce the law to its fullest extent.

 

It advised AMMBAN to desist from any attempt to fix its prices.

 

It added, “To the extent that any combination of undertakings, including AMMBAN indeed met, agreed or decided to impose uniform or coordinated fees/tariffs for services this announcement should serve to ensure such undertakings cease and desist from that arrangement or similar discussions/conduct.”

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EndSARS Memorial: ‘Nigerians Still Deserve Answers’ – Atiku

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PDP Threatens INEC Over Delay In Presidential Election Results

Former Vice President and African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has said Nigerians still deserve answers six years after the October 20, 2020, EndSARS shooting at the Lekki Toll Gate in Lagos.

Atiku made this known in a statement on Tuesday marking the sixth anniversary of the incident, in which he called for accountability over the shooting and criticised the Federal Government’s handling of the unresolved questions surrounding the tragedy.

He questioned who gave the order for the operation against protesters, insisting that the country could not continue to commemorate the victims without addressing the circumstances surrounding the incident.

RELATED NEWS: EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi

Atiku also recalled President Bola Tinubu’s remarks in October 2020, when he questioned the circumstances surrounding the casualties recorded during the shooting.

Tinubu had asked: “How were they there? How long were they there? What kind of characters are they?”

According to Atiku, the remarks appeared to focus on questioning the victims rather than demanding answers from those responsible for the violence against peaceful protesters.

He said the anger surrounding the anniversary reflected the unresolved grief of affected families and the distrust of young Nigerians who had demanded accountability and a better future.

“The APC has governed Nigeria through these six years. It cannot keep asking Nigerians to remember the dead while refusing to confront the unanswered questions,” Atiku said.

The ADC presidential candidate also linked the unresolved questions surrounding the Lekki shooting to the economic hardship confronting Nigerians, particularly young people struggling with rising living costs.

Citing petrol prices of ₦1,405 per litre, Atiku said transportation costs were making it increasingly difficult for Nigerians to afford basic necessities, including food, rent, education and commuting to work.

He illustrated the situation with the account of a young woman who reportedly resigned from her job because her salary could no longer cover her transportation expenses.

According to Atiku, one of his aides shared the woman’s experience earlier on Tuesday.

The woman reportedly said: “The pay no longer covers transport. Everything in Nigeria just dey increase in price. Feels like I’m working for Bolt guys.”

Atiku described the experience as an example of the difficulties faced by employed Nigerians whose earnings could no longer adequately cover the cost of getting to work.

He argued that the economic situation was affecting not only unemployed Nigerians but also workers struggling to survive on salaries weakened by rising costs.

The former vice president also highlighted his Economic Recovery Plan, which he said was designed to make Nigeria more affordable.

The proposed measures include providing support tied to fuel refined in Nigeria, passing savings on to consumers, increasing local production to create jobs, protecting minimum-wage earners, supporting students and cutting government waste rather than imposing additional taxes.

Atiku maintained that young Nigerians deserved answers about the Lekki shooting, a government that protects human life and an economy in which employment could provide a path to a better standard of living.

He added that Nigerians were entitled to question the APC’s record on accountability and economic opportunities six years after the incident.

The EndSARS protests began in October 2020, with young Nigerians demanding an end to police brutality and reforms to policing in the country. The shooting at the Lekki Toll Gate on October 20 became one of the most prominent events associated with the protests.

 

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EndSARS Memorial: ‘We Must Never Normalise Injustice’ – Peter Obi

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National Democratic Congress (NDC) presidential candidate, Peter Obi, has called on Nigerians never to normalise injustice as the country marks the sixth anniversary of the Lekki Toll Gate shootings during the #EndSARS protests.

Obi made the call in a statement posted on his X account on Tuesday, October 20, 2026, in which he reflected on the events of October 20, 2020, and renewed his call for a Nigeria where citizens’ rights are protected.

He expressed appreciation for Nigerian youths who participated in the protests, describing the anniversary as a painful reminder of the sacrifices made in the demand for a better country.

SEE ALSO: BREAKING: Activists Arrested For Commemorating #Endsars Released

According to him, peaceful #EndSARS protesters were met with gunfire at the Lekki Toll Gate on that fateful night, leaving people dead and others injured.

He noted that the incident raised questions about justice, accountability and respect for human life.

“We must never forget. We must never normalise injustice,” Obi said.

He also reaffirmed his belief that a New Nigeria is possible, describing it as a country where citizens are protected rather than brutalised, young people are heard rather than silenced, and government power is exercised responsibly and with respect for human rights.

The former Anambra State governor stressed that Nigeria must become a nation where no citizen is punished for demanding good governance and a better future.

As the country marks six years since the incident, Obi prayed for the repose of the souls of those who lost their lives and called for their sacrifices to strengthen efforts towards building a better nation.

“May the souls of the departed continue to rest in peace. May their sacrifice strengthen our resolve to build a Nigeria where this tragedy will never be repeated,” he stated.

He concluded by reiterating his belief in the possibility of a New Nigeria, insisting that the country must become one where every life matters.

 

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JUST IN: Ex-Delta Governor Emmanuel Uduaghan Is Dead

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Former Delta State Governor, Dr Emmanuel Uduaghan, has reportedly died, according to sources said to be close to his family.

The sources confirmed the development on Monday, October 19, 2026, although details surrounding the circumstances of his death remained unclear as of the time of filing this report.

“Uduaghan is no more; he is dead,” one of the sources reportedly said.

SEE ALSO: Document reveals Akpoti-Uduaghan demanded N10b damages from husband before marriage, firm reacts

The reported death comes months after claims that the former governor had died circulated on social media before being dismissed by his media aide, Henry Unini.

In June, reports of Uduaghan’s alleged death spread across Facebook and WhatsApp, prompting Unini to publicly debunk the claims and assure the public that the former governor was alive.

“I can tell you for a fact that Dr. Emmanuel Uduaghan is alive,” Unini said at the time.

“Frankly, I don’t know where the writer got his information from. The death of someone is not something you take and write about casually,” he added.

Unini acknowledged at the time that Uduaghan had been experiencing health challenges but maintained that he was receiving medical attention.

“It is now common knowledge that Dr. Emmanuel Uduaghan has been sick, but he is receiving proper medical care,” the media aide said.

He also stated that the former governor was recuperating, assuring the public that there was no immediate cause for concern.

“There is no cause for alarm whatsoever,” Unini said.

The media aide thanked friends, well-wishers and residents of Delta State who contacted the family to verify the former governor’s condition. He also urged the public to avoid spreading unverified information.

“The rumour was uncalled for,” he said while addressing the earlier reports.

As of the time of filing this report, further details about the circumstances surrounding Uduaghan’s reported death had yet to emerge.

 

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