Governor Charles Soludo of Anambra State has announced a stringent enforcement measure targeting traders who fail to open their shops, introducing heavy financial penalties as part of a new market regulation framework.
The governor made the remarks while addressing concerns around compliance with market operating days, warning that sanctions would apply to traders who shut their businesses contrary to state directives.
Soludo Outlines Penalties for Non-Compliance
According to the governor, traders who refuse to open their shops on designated days would face significant fines, with additional penalties for further defiance of enforcement actions. “If we seal your shop and you go ahead to open it, you are liable for the second offence, that is, another 20 million. The first offence of not opening the shop is 20 million naira, and the offence of opening it is another 20 million naira. We need money. If you want to close your shop every Monday for good reasons, it is okay, but we will make a plea bargain, and you will pay us no less than 5 million naira. Our commerce is the most important sector of our economy,” Soludo stated.
Policy Aims to Strengthen Commerce
The governor explained that the directive is intended to regulate commercial activities and ensure consistency in market operations across the state, stressing the importance of trade to Anambra’s economy. He noted that structured market participation is essential for improving revenue generation and maintaining economic stability.
Authorities in the state are expected to enforce the new directive through market task forces and regulatory agencies, with penalties attached to non-compliance. The government insists the policy will help ensure orderliness in markets and discourage arbitrary closures that disrupt economic activity.
Nnewi Traders React as Soludo Closes Market
Previously, traders in the New Auto Spare Parts Association (NASPA) Market, Nkwo Nnewi, Nnewi North local government area of Anambra state, reacted to the closure of the market by Governor Charles Soludo. The closure on Monday, February 23, followed low compliance with the governor's order to end the Monday sit-at-home in Anambra.
