The Federal Competition and Consumer Protection Commission (FCCPC) has launched inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors.
The FCCPC Director of Corporate Affairs, Ondaje Ijagwu, disclosed the development via a statement on Sunday.
In the banking sector, the Commission disclosed that it will be investigating Guaranty Trust Bank (GTB) 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.
According to Ijagwu, the inquisitions, which will begin on December 3rd, 4th, and 5th respectively, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
Also, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
According to Ijagwu, the inquisitions, which will begin on December 3rd, 4th, and 5th respectively, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
The Commission noted that these 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.
It added that its 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.
“This action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace and ensuring accountability across all sectors.
“We urge consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels,” the statement added.
