The Anti Counterfeit Collaboration has cautioned consumers against the purchase of counterfeit home appliances and other products.
The Chairman, ACC, Mr. Desmond Adeola, said this at a press conference to mark the 2017 World Anti Counterfeit Day in Lagos.
He explained that counterfeit home appliances and products were dangerous and could lead to building collapse.
Adeola quoted a report projecting counterfeiting to drain $4.2tn from the global economy and put over 5.4 million legitimate jobs at risk by 2022.
He expressed concern that Nigeria was one of those countries increasingly becoming a target destination and significant transit route for counterfeit and pirated products.
He stated, “We must avoid counterfeit products in all industries. Fake home appliances can lead to building collapse and accidents. The consequence of counterfeiting is that the Nigerian economy is at risk if proper measures are not taken on time, as trade in counterfeits creates an underground economy that deprives the government of revenue for vital public services.
“It forces higher burdens on taxpayers, dislocate hundreds of thousands of legitimate jobs and exposes consumers to dangerous and ineffective products that ultimately threaten to damage the equity and consumer confidence in the legitimate brands being counterfeited.”
Adeola also warned that duplication of building designs without getting authorial right was wrong.
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