A BILL FOR

An Act to Provide for the Prevention of Hoarding and Profiteering in Essential Commodities in Nigeria

and for
Other Matters Connected Therewith


Sponsored by Senator Otaru Salihu Ohize
[ ]



Be it Enacted by the National Assembly of the Federal Republic of Nigeria—



1.—(1). As from the commencement of this Act, no person or group of
persons, association of individuals shall, engaged in any form of hoarding of
and profiteering in the commodities contained in the schedule to this Act .



2. Notwithstanding anything contained in any other enactment or law
the Minister shall, by notice in the Gazette, fix the maximum prices in respect
of the commodities in the schedule to this Act which may be charged by a
dealer or retailer in respect of such commodities from the retailers.



3.—(1) Whoever profiteers in any the commodities contained in
the schedule to this Act is guilty of an offence and is liable to 2 month
imprisonment or to a fine of x20,000 or both and the commodities in respect
to which the offence was committed be forfeited to the government,.


(2) Any person found deliberately hoarding in any of the commodities
in the schedule to this Act or other commodities generally required for daily
consumption is guilty of an offence and is liable to 3 month imprisonment
or to a fine of x30,000 or both


4.—(1) Any dealer, retailer or wholesaler who without reasonable
excuse—
(a) refuses to sell any of the scheduled commodities ;or
(b) refuses to sell any of the scheduled commodities at fixed price in respect
thereof under section 2,
is guilty of an offence and is 7 month imprisonment or a fine of x50, or to both.



(2) Any purchaser or consumer who purchases any of the scheduled
Commencement.
Prohibition,
etc.
Government
to fix
maximum
prices
Penalty for
[SB. 301]
hoarding and
profiteering.
Penalty for
refusal to sell
and purchase
goods at fixed
price.
Power of
seizure.


C 2600 2009 No. Prevention of Hoarding and Profiteering
commodities at a price more than the maximum price fixed thereof under
section 2 is guilty of an offence and is liable on conviction to 5 month
imprisonment with option of fine.


5. Where a police officer has reasonable grounds that there has been
a contravention of any of the provisions of this Act, such officer may after
recording in writing the grounds of his belief, at all reasonable hours enter and
search, without any warrant, any place where a dealer ,retailer or wholesaler
keeps, or is keeping any of the scheduled commodities accounts, registers or
anything such officer may deem fit and if necessary inspect, seize or retain all
or any of them for so long as they may be required for further investigation
into any offence under this Act.


6. A police officer may arrest without warrant any person who within
his view commits an offence under this Act.


7. Prosecution of offences under this Act shall be instituted by the Judge
of a High Court.


8. The federal High Court shall have jurisdiction over this Act.
The Minister may by notice in the Gazette add to the schedule any
commodity he considers important.



9. In this Act, unless the Context otherwise requires—
“dealer” means any person partnership or firm carrying on the business of
selling;
“Court” means federal High Court;
“ Hoarding ‘means accumulating essential goods or stocks intended for
sale to consumers;
“Profiteering” means the sale by a dealer at a price higher than the fixed
price
“Scheduled commodities” an y of the commodities specified in the schedule
to this Act;


10. This Bill may be cited as Prevention of Hoarding and Profiteering Bill, 2009.


Explanatory Memorandum



Prevention of Hoarding and Profiteering 2009 No. C 2601

This Bill seeks to provide measures for the prevention of hoarding and
profiteering in essential commodities of daily use of citizens.



Schedule

(1) Wheat

(2) Rice
(3) Edible oil
(4) Sugar

(5) Baby food

(6) Books
(7) Milk
( Kerosene

(9) Petroleum products

What's that site for reading news summaries?

Aha! Am the 1st here.

YORUBA will not fail to amuse me

Thats y in this country people are scared of doing good

Owoda people are just stuupid and tribalistic in their approach to issue

Criminal Yorubas are at it again...I don't blame the ediotic OP..Maybe he just bought fuel at capital oil fuel station,charged his phone/pc and come here to spew thrash ..Bunch of ungrateful scratched face ediots

OP has run out of points.

No worry. We will help you try and hang Wake Domini and Otedola when Buhari is sworn in.

I hope you are happy now