The Federal Competition and Consumer Protection Commission (FCCPC) has announced a series of inquiries targeting Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited in response to mounting consumer complaints. The investigations, set to begin on December 3, 4, and 5, aim to address allegations of poor service delivery, exploitative practices, and potential breaches of consumer rights.
According to Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs, these actions are part of the Commission’s mandate to enforce compliance with the Federal Competition and Consumer Protection Act (FCCPA) 2018. “We are determined to safeguard consumer rights, foster a fair marketplace, and ensure accountability across all sectors,” he stated.
Banking Sector: Network Failures
In the banking industry, GTBank is under scrutiny for persistent network failures that allegedly prevent customers from accessing funds or using banking applications. “Consumers have the right to reliable and efficient banking services,” Ijagwu emphasized.
MTN Nigeria faces inquiries into long-standing complaints about undelivered data services, unexplained data depletion, and poor customer care. The FCCPC aims to determine whether these practices constitute a violation of consumer rights under the FCCPA.
Air Peace Limited will address accusations of exploitative ticket pricing, including sharp increases for advance bookings on specific domestic routes. The Commission seeks clarity on pricing strategies and their compliance with regulatory standards.
The inquiries are being conducted under key sections of the FCCPA, including Sections 17, 18, and 110-113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights and disrupt fair competition.
The FCCPC has called on consumers to report instances of poor service delivery or exploitative practices through its official channels. “These engagements provide an opportunity to address concerns, clarify business practices, and enforce compliance with regulatory standards,” Ijagwu said.
This development underscores the FCCPC’s commitment to protecting consumer rights and ensuring a level playing field across the banking, telecommunications, and aviation sectors.
