Federal Commission Launches Investigation into Consumers’ Grievances against Top Companies
The Federal Competition and Consumer Protection Commission (FCCPC) has announced an inquiry into widespread consumer complaints affecting leading players in the banking, telecommunications, and aviation sectors.
FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, shared the news in a statement released on Sunday.
The inquiry will focus on Guaranty Trust Bank (GTB) in the banking sector, where customers have reported difficulties in accessing their funds or using banking applications due to network failures.
In the telecommunications sector, MTN Nigeria will face scrutiny over complaints of recurring issues with data services, unexplained data depletion, and inadequate customer care services.
According to Ijagwu, the investigation, set to begin on December 3rd, 4th, and 5th, aims to address poor service delivery, exploitative practices, and potential consumer rights violations.
Air Peace Limited will also be under the spotlight, with regard to allegations of price gouging, particularly with regards to significant increases in advance bookings for certain domestic routes.
Ijagwu emphasized that the investigation is mandated by the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the FCCPC to investigate and resolve practices that compromise consumer rights, disrupt markets, or create unfair competition.
The Commission emphasized that these inquiries provide a platform to address consumer concerns, clarify business practices, and enforce regulatory standards.
The companies will be required to appear before the Commission on designated days to provide information and responses, facilitating prompt determinations and resolution of pending issues.
“This action demonstrates the Commission’s commitment to protecting consumer rights, promoting a fair marketplace, and ensuring accountability across all sectors,” Ijagwu stated. “We urge consumers to continue reporting instances of poor service delivery or exploitative practices to the FCCPC through its official channels.”
