Food inflation: Kano anti-graft agency threatens to seize hoarded items from traders

The Kano Public Complaints and Anti-Corruption Commission (PCACC) says it will seize essential commodities hoarded by traders in the state.

Addressing a press conference in Kano on Thursday, Muhyi Rimingado, PCACC chair, expressed dismay over the rising prices of food items in the markets.

The PCACC chair said sharp practices by some traders are making the situation worse.

“The PCACC will swing into action and will not watch businessmen hoarding essential commodities,” Rimingado said.

“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.

“We are overwhelmed; this is the most essential part of our job. We have inspected rice mills and found the commodity to be selling at N58,000 per bag as the company price.”

He said the commission would not allow some traders to hoard commodities and worsen the hardship on citizens.

The threat by the Kano anti-corruption commission came after Abba Yusuf, governor of the state, asked traders to sell goods at affordable rates.

Residents of Kano and Niger states recently took to the streets to protest the rising cost of living and the pervasive food inflation in Nigeria.

Prices of goods and services soared across Nigeria soon after President Bola Tinubu announced an end to the petrol subsidy regime on May 29, 2023.

Things took a turn for the worse after the Tinubu administration unified the exchange rates in June.

On Thursday, the federal government announced the release of thousands of metric tons of grains from the strategic reserves, to cushion food inflation.