The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications, and aviation sectors.
It added that the intension was to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
The Director of Corporate Affairs, Ondaje Ijagwu, who disclosed this on Sunday, stated the probe will begin on December 3, 4 and 5,
The affected entities according to the statement are; Guaranty Trust Bank (GTB), Air Peace, MTN, while noting 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.
Ijagwu explained that under the act, FCCPC is empowered to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.
While the commission said it will engage GTBank over reports of network failures that hinder customers from accessing their funds or using banking applications, MTN Nigeria will face questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
On Air Peace Limited, the commission explained that it will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
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.
