The Federal Competition and Consumer Protection Commission (FCCPC) has announced a wide-ranging inquiry into several leading companies in Nigeria’s banking, telecommunications, and aviation sectors.
The inquiry, which begins on December 3, 2024, is aimed at addressing consumer complaints related to poor service delivery, exploitative pricing, and violations of consumer rights.
The companies under scrutiny include Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace.
In a statement released on Sunday, Ondaje Ijagwu, the Director of Corporate Affairs at the FCCPC, confirmed that these investigations would be conducted under the Federal Competition and Consumer Protection Act (FCCPA) of 2018.
Ijagwu explained that the commission’s primary goal is to ensure fair practices, protect consumer rights, and hold businesses accountable for any actions that negatively impact consumers or disrupt the market.
“Under the FCCPA, we are empowered to investigate and resolve any practices that undermine consumer rights, create unfair competition, or disrupt the market,” Ijagwu said.
The commission will begin its investigations by engaging with GTBank, addressing reports of network failures that have hindered customers from accessing their funds or using banking applications.
These network issues have been a major source of frustration for customers, with many complaining of being unable to complete transactions, check their account balances, or use banking apps due to frequent outages.
MTN Nigeria will also face questions regarding persistent complaints of undelivered data services and unexplained data depletion.
Subscribers have frequently expressed dissatisfaction with the telecommunications giant’s data services, citing issues such as data being used up without clear explanation or service interruptions that go unaddressed.
Additionally, MTN’s customer care services have come under scrutiny for being unresponsive and failing to resolve issues in a timely manner.
“Consumers are frustrated, and it is essential that MTN addresses these concerns to improve its service delivery,” Ijagwu added.
Air Peace Limited is another company under investigation, particularly concerning allegations of exploitative ticket pricing.
Passengers have raised concerns over significant price hikes for advance bookings on certain domestic routes, with many accusing the airline of taking advantage of the high demand on specific routes.
The FCCPC is particularly focused on ensuring that Air Peace adheres to fair pricing practices, especially during peak travel periods when customers are most vulnerable to inflated ticket prices.
Ijagwu clarified that the FCCPC’s engagement with these companies aims to provide a platform for businesses to clarify their practices and address customer grievances.
“This investigation will allow the companies to respond to complaints and provide the necessary clarifications on their operations,” he said.
The companies involved will be required to appear before the FCCPC on designated days to offer information and responses, which will assist the commission in making timely and informed decisions.
The FCCPC stressed that these actions are part of its ongoing commitment to safeguarding the rights of consumers and ensuring a fair and competitive marketplace.
“Through this process, we hope to create accountability across all sectors and ensure that businesses operate in a manner that is fair to the Nigerian consumer,” Ijagwu said.
He also urged Nigerians to continue reporting poor service delivery or exploitative practices to the FCCPC using the commission’s official channels.
“Consumers are our eyes and ears,” Ijagwu stated. “By reporting issues, they help us in holding businesses accountable and fostering a more transparent marketplace.”
The inquiry is expected to address several pressing concerns that have long plagued Nigerian consumers.
For many, this investigation represents a much-needed opportunity to ensure that companies operate with integrity and that consumer rights are protected from exploitative practices.
The FCCPC has long advocated for improved consumer protection laws and regulations, and this latest move signals its commitment to enforcing these standards across all industries.
As the inquiry progresses, many will be watching closely to see how these companies respond and whether the FCCPC can enforce meaningful changes that improve the consumer experience.
The investigation into GTBank, MTN, and Air Peace highlights the growing need for effective consumer protection in Nigeria.
With businesses often facing criticism for their handling of customer concerns, the FCCPC’s actions are seen as a critical step in improving the relationship between consumers and service providers in the country.
“These inquiries are not just about punishing wrongdoers,” Ijagwu emphasized. “They are about creating a system where businesses respect consumers and provide quality services in line with the law.”
