The Federal Competition and Consumer Protection Commission (FCCPC) has announced a comprehensive inquiry into mounting consumer complaints against Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited. The investigations are set to address allegations of poor service delivery, exploitative practices, and potential violations of consumer rights.
In a statement released on Sunday, FCCPC Director of Corporate Affairs Ondaje Ijagwu revealed that the inquiries would commence on December 3, 4, and 5, focusing on the banking, telecommunications, and aviation sectors.
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For the banking industry, GTBank will be scrutinized over persistent network failures that reportedly prevent customers from accessing their funds and using mobile banking services effectively.
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In the telecommunications sector, MTN Nigeria is under review following consumer complaints about undelivered data services, unexplained data depletion, and inadequate customer support.
Air Peace, one of Nigeria’s prominent airlines, faces allegations of exploitative ticket pricing, including significant fare hikes for advance bookings on key domestic routes.
The FCCPC emphasized that these investigations fall under the purview of the Federal Competition and Consumer Protection Act (FCCPA) of 2018, which grants the Commission authority to probe practices that harm consumer interests or disrupt fair competition.
According to the statement, the inquiry will provide a platform for the affected companies to address consumer grievances, clarify their business practices, and demonstrate compliance with regulatory standards.
“This initiative underscores our commitment to protecting consumer rights, fostering a competitive marketplace, and holding businesses accountable for their practices,” the statement read.
The Commission urged consumers to continue reporting instances of unsatisfactory service delivery or exploitative conduct via its official channels, reiterating its dedication to resolving market-related grievances.
The outcomes of these inquiries will be pivotal in determining compliance measures and ensuring that consumer rights are upheld across the affected sectors.
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