FCCPC engages GTBank, MTN and Air Peace on possible regulatory violations

*The Federal Competition and Consumer Protection Commission says the inquisitions into widespread complaints against leading players in the banking, telecommunications, and aviation sectors will hold December 3-5, 2024, and are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations

Isola Moses | ConsumerConnect

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 of the Nigerian economy.

The FCCPC disclosed the inquisitions, which would begin December 3-5, 2024, are intended to address issues of poor service delivery, exploitative practices, and potential consumer rights violations.

Ondaje Ijagwu, Director of Corporate Affairs at FCCPC, who noted this in a statement Sunday, December 1, said in the banking sector, the FCCPC would engage Guaranty Trust Bank (GTBank) over reports of network failures that hinder customers from accessing their funds or using banking applications in recent times.

Likewise, in the telecommunications sector, MTN Nigeria Communications Plc faces the regulators’ questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.

Air Peace Limited also will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.

The statement explained these inquiries are being conducted pursuant to the Federal Competition and Consumer Protection Act (FCCPA) 2018, 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 in the economy.

Selected companies to appear before Commission: Director

The Director of Corporate Affairs stated: “The FCCPC’s 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.”

The FCCPC further said: “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.”