The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a comprehensive investigation into rising consumer complaints against key players in the banking, telecommunications, and aviation sectors.
The inquiry targets Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Nigeria, following allegations of poor service delivery and exploitative practices.
Ondaje Ijagwu, FCCPC’s Director of Corporate Affairs, confirmed in a statement that the inquiries are scheduled for December 3rd, 4th, and 5th.
He explained that these proceedings fall under the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the Commission to protect consumer rights, ensure market fairness, and promote accountability.
The FCCPC has extended invitations to the three companies to address specific consumer grievances:
Telecommunications Sector: MTN Nigeria is under investigation for unresolved complaints of undelivered data services, unexplained data depletion, and inadequate customer support.
Aviation Sector: Air Peace Nigeria will address allegations of exploitative pricing practices, including steep ticket price hikes on certain domestic routes.
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Ijagwu emphasized that the Commission aims to provide a platform for these companies to clarify their business practices, respond to consumer complaints, and demonstrate compliance with regulatory standards.
“These engagements are essential for determining the validity of consumer allegations, resolving outstanding issues promptly, and enforcing adherence to the FCCPA’s provisions,” Ijagwu said.
The inquiries are guided by sections of the FCCPA, including Sections 17, 18, 32, 33, and 110-113, which address unfair trade practices, consumer rights violations, and anti-competitive behavior.
Ijagwu reiterated that the FCCPC is committed to protecting consumer interests, fostering a balanced marketplace, and holding corporations accountable for lapses in service delivery.
The FCCPC also called on consumers to report any instances of poor service delivery or exploitative practices through its official channels. This, Ijagwu noted, is crucial for ensuring transparency and fairness in Nigeria’s economic landscape.
“Our actions reflect the Commission’s dedication to creating a market environment that respects consumer rights and operates on principles of fairness,” he added.
Experts believe the inquiry signals a significant step in addressing longstanding complaints in these critical sectors.
Dr. Chijioke Anyanwu, a consumer protection specialist, commended the FCCPC’s move, describing it as “a necessary intervention to safeguard consumer trust and drive sectoral improvements.”
Professor Tunde Afolabi, an economist, noted that this investigation could set a precedent for regulatory oversight, urging companies to prioritize customer satisfaction and compliance.
The outcome of these inquiries is expected to influence policy decisions and reshape consumer protection practices across Nigeria’s banking, telecommunications, and aviation industries.