The Ooni of Ife, Oba Adeyeye Ogunwusi, has suspended market groups in the town due to their alleged role in the high cost of food items, according to the leader of market heads, Akinwande Olajire.
Olajire, also known as the Babaloja of Ejigbomekun market, stated that the monarch took the action after receiving complaints about traders fixing prices and selling food items at exorbitant rates, despite buying them cheaply from farms.
In a viral video, Olajire addressed traders in a neighborhood market, explaining that the ban on market groups aims to promote fair pricing and prevent intimidation of traders who want to sell at lower rates.
“We have locked all the identified places these market groups are using for their meetings, and we will keep monitoring them,” Olajire said. “If anyone is caught acting to intimidate traders for selling at cheap prices, such a person will face consequences.”
The move is seen as a measure to regulate prices and ensure traders operate freely without coercion from market groups. Olajire also promised to address complaints about extortion by motorists and others.
