The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against major operators in the banking, telecommunications, and aviation sectors, including Guaranty Trust Bank (GTB), MTN and Air Peace.
The inquisitions, which will begin on December 3, 4, and 5 respectively, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
The Director, Corporate Affairs of FCCPC, Mr. Ondaje Ijagwu made this known in a statement issued on Sunday, December 1, 2024.
According to Ijagwu, the agency will engage GTB in the banking sector 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,” he stated.
The director explained that the 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 FCCPC’s engagement with these companies provides a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards. The companies will be required to appear before the Commission on designated days to provide information and responses to enable the Commission to make determinations and resolve pending issues promptly,” he stressed.
The Commission noted that the action reflects its commitment to safeguarding consumer rights, fostering a fair marketplace and ensuring accountability across all sectors.
It also urged consumers to continue to report instances of poor service delivery or exploitative practices through its official channels.
