The Federal Competition and Consumer Protection Commission (FCCPC) has launched a significant inquiry into consumer complaints involving three major industries: banking, telecommunications, and aviation. The investigations aim to address allegations of poor service delivery, exploitative practices, and potential violations of consumer rights.
According to FCCPC in a statement, the inquiries, scheduled for December 3, 4, and 5, 2024, will scrutinize Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited, respectively. The FCCPC’s actions underscore its dedication to upholding consumer protection laws and fostering a fair marketplace.
GTBank Under Investigation for Network Failures
The FCCPC’s first engagement will be with GTBank. Consumers have reported widespread network failures that prevent them from accessing funds and using banking applications effectively. These disruptions have caused frustration among customers, highlighting concerns about the reliability of digital banking infrastructure. The bank recently changed its core banking system and since then, customers have been complaining about the problems with the internet banking and mobile banking.
MTN Nigeria Faces Questions on Data Services
MTN Nigeria, the nation’s leading telecommunications provider, will also be under scrutiny. The FCCPC plans to address complaints about undelivered data services, unexplained data depletion, and poor customer service. These issues have fueled consumer dissatisfaction in a sector critical to everyday communication and business operations.
Air Peace Challenged Over Ticket Pricing Practices
In the aviation sector, Air Peace Limited will answer to allegations of exploitative ticket pricing. Reports of substantial price hikes for advance bookings on key domestic routes have sparked concern among travelers, especially during peak travel periods.
Legal Framework and Mandate
The inquiries are grounded in the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the FCCPC to investigate practices that undermine consumer rights or disrupt market fairness. Specifically, Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113 of the FCCPA provide the legal basis for these engagements.
These provisions enable the FCCPC to summon companies, clarify their business practices, and enforce compliance with regulatory standards. By engaging directly with GTBank, MTN, and Air Peace, the Commission seeks to resolve consumer grievances efficiently and ensure accountability.
Safeguarding Consumer Rights and Fair Competition
FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, emphasized the importance of this initiative, stating, “This action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors.”
The Commission also encourages consumers to report instances of poor service or exploitative practices through its official channels. These reports play a vital role in identifying systemic issues and prompting regulatory action.
A Broader Commitment to Accountability
The FCCPC’s engagements with these major players demonstrate its determination to address long-standing concerns across key sectors. For consumers, this represents a step toward improved service delivery and greater transparency. For businesses, it signals a clear message: practices that undermine consumer trust will not go unchecked.
As the investigations proceed, the outcomes will likely set critical precedents for consumer protection in Nigeria, strengthening the FCCPC’s role as a watchdog for fairness and accountability in the marketplace.
