FCCPC Launches Major Inquiry into Banking, Telecoms, and Aviation Sectors
By Patience Ikpeme
The Federal Competition and Consumer Protection Commission (FCCPC) has announced a probe into leading players in Nigeria’s banking, telecommunications, and aviation sectors.
The move is aimed at addressing mounting consumer complaints regarding poor service delivery, exploitative practices, and potential violations of consumer rights.
The inquiries, set to commence on December 3, will target Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited, the Commission disclosed in a statement on Sunday.
According to the FCCPC, Guaranty Trust Bank will face scrutiny over frequent network failures that have allegedly left customers unable to access funds or use banking applications efficiently.
In the telecommunications sector, MTN Nigeria is being questioned about persistent complaints involving undelivered data services, unexplained data depletion, and inadequate customer support.
Air Peace Limited is similarly under review for allegations of exploitative ticket pricing, particularly significant price hikes for advance bookings on certain domestic routes.
“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,” said Mr. Ondaje Ijagwu, FCCPC’s Director of Corporate Communications.
He emphasized that the inquiries aim to clarify business practices, enforce compliance with regulatory standards, and address consumer concerns.
“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,” he added.
The FCCPC reiterated its commitment to safeguarding consumer rights and fostering a fair marketplace. This initiative, the Commission said, underscores its resolve to hold businesses accountable while ensuring that consumers receive value and fairness across all sectors.
The banking, telecommunications, and aviation companies under scrutiny will be engaged on December 3, 4, and 5 respectively.
