The police said the suspects were in custody.
He said the programme aims to achieve up to 500 million dollars in annual import savings.
The prosecutor said the offence contravened Sections 287 and 168 of the Criminal Law of Lagos State, 2015.
Mr Bello also charged them to respect consumers’ rights and refrain from deceptive or unfair business practices.
He said the surge in trade had increased interest from foreign investors looking to capitalise on Nigeria’s agricultural potential.
The magistrate, Shawomi Bokkos, summarily tried and sentenced the convict.
Alphonsus Inyang, National president of NPPAN, communicated this in an interview on Friday in Abuja.
Nigeria’s headline inflation rate declined to 33.40 per cent in July, says NBS amid President Bola Tinubu’s harsh economic policies.
Police prosecutor said the convict admitted to committing the act during investigation.
The NBS said on a month-on-month basis, the core inflation rate was 2.06 per cent in June 2024.
