The Federal Competition and Consumer Protection Commission (FCCPC) has announced a comprehensive investigation into complaints against three major players in Nigeria’s banking, telecommunications, and aviation sectors.
In a statement released on Sunday, FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, disclosed that the inquiries will commence on December 3, 4, and 5, targeting Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited, respectively.
The investigations aimed to address widespread consumer grievances, including poor service delivery, exploitative practices, and potential violations of consumer rights.
In the banking sector, GTBank was under scrutiny for alleged network failures that have left customers unable to access their funds or use the bank’s applications.
The telecommunications giant, MTN Nigeria, faced inquiries over complaints of undelivered data services, unexplained data depletion, and inadequate customer support.
Meanwhile, Air Peace Limited, a leading airline, will answer questions about exploitative ticket pricing practices, particularly significant fare hikes for advance bookings on specific domestic routes.
The FCCPC noted that the investigations were being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018. The Act empowers the Commission to investigate practices that undermine consumer rights, distort markets, or foster unfair competition. Specific sections cited include 17, 18, 32, 33, 80, 110, 111, 112, and 113 of the FCCPA.
“The inquiries are designed to provide a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards,” the FCCPC stated.
Ijagwu emphasised the Commission’s dedication to fostering a fair and accountable marketplace, saying, “This action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors.”
The FCCPC also urged Nigerians to continue reporting instances of poor service delivery or exploitative practices through its official channels
Representatives of the three companies were expected to appear before the Commission on their designated inquiry days to provide responses and information..
