The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a comprehensive investigation into widespread consumer complaints targeting key players in the banking, telecommunications, and aviation industries.
FCCPC Director of Corporate Affairs, Ondaje Ijagwu, announced this in a statement on Sunday.
According to Ijagwu, the inquiries will begin on December 3, 4, and 5, focusing on addressing concerns about poor service delivery, exploitative practices, and potential violations of consumer rights.
In the banking sector, the FCCPC will investigate Guaranty Trust Bank (GTB) following reports of network failures preventing customers from accessing their funds or using banking apps.
In the telecommunications sector, MTN Nigeria will be scrutinized for persistent complaints about undelivered data services, unexplained data depletion, and inadequate customer support.
Air Peace Limited will also face examination over claims of exploitative ticket pricing, particularly substantial price hikes for advance bookings on specific domestic routes.
The Commission emphasized that these investigations are conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, particularly Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the FCCPC to address practices that undermine consumer rights, disrupt markets, or foster 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.