The Federal Competition and Consumer Protection Commission (FCCPC) has announced an extensive investigation into alleged consumer rights violations by major players in Nigeria’s banking, telecoms, and aviation sectors.
In a statement released on Sunday in Abuja, the FCCPC’s Director of Corporate Affairs, Mr. Ondaje Ijagwu, revealed that the Commission is responding to widespread complaints from consumers. Among the companies under scrutiny are Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited, each accused of practices that undermine consumer trust.
According to Ijagwu, GTBank faces allegations of persistent network outages that have left customers unable to access their funds. MTN Nigeria is being investigated for unfulfilled data services, unexplained data depletion, and poor customer support. Meanwhile, Air Peace Limited is accused of exploitative ticket pricing, particularly sharp price hikes for advance bookings on specific domestic routes.
The Commission plans to address these issues through engagements scheduled to take place from December 3 to December 5, 2024. These discussions will focus on allegations of poor service delivery, exploitative practices, and possible breaches of consumer rights, all of which fall under the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
Read also: France, Nigeria partner to boost critical minerals value chain
Ijagwu highlighted that the FCCPA empowers the Commission to investigate and halt practices that harm consumers, distort markets, or promote unfair competition. He emphasized that the ongoing investigation aims to resolve consumer complaints, clarify corporate policies, and enforce compliance with regulatory standards.
“The companies will be required to appear before the Commission on designated days to provide information and responses, enabling us to make determinations and resolve pending issues promptly,” he stated.
He further reassured Nigerians of the FCCPC’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring corporate accountability. The Commission also urged consumers to continue reporting cases of poor service delivery or exploitative practices through its official channels.
