The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors.
A statement on Sunday by Ondaje Ijagwu,
Director, FCCPC Corporate Affairs, states that the inquisitions would commence on December 3rd, 4th, and 5th respectively.
Ijagwu explained that the Inquisitions sought to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
According to him, the action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace and ensuring accountability across all sectors.
He urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.
“In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications.
“In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
“Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
“These inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, specifically Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition,” the statement reads in part.
He, however, stressed that the FCCPC’s planned engagement with the affected companies would provide a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards.
He added that these companies would be required to appear before the Commission on designated days to provide information and responses to enable the Commission make determinations and resolve pending issues promptly.
