The Nigerian government, via the Federal Competition and Consumer Protection Competition (FCCPC), has begun investigating consumer complaints against leading banking, telecom, and aviation firms.

The FCCPC will investigate the firms for three days to address poor service delivery, exploitative practices, and possible consumer rights violations.

The FCCPC’s director of Corporate Affairs, Ondaje Ijagwum, announced this on Sunday, December 1, 2024.

The Commission will investigate Guaranty Trust Bank (GTB) over reports of network failures, hindering customers from accessing funds in their accounts or using its mobile applications for an extended period.

GTBank apologised to its customers who could not access their funds after completing migration to its core banking platform.

In the telecom industry, FCCPC disclosed that MTN customers have swarmed it with complaints of poor service delivery, undelivered data services, data depletion, and inadequate customer care.

The agency disclosed that Air Peace, Nigeria’s largest carrier, must address allegations of exploitative ticket pricing, including fare hikes for bookings on specific domestic routes.

FCCPC gives reasons for the probe

BusinessDay reported that Ijagwum said the Commission cited the FCCPC Act, which empowers it to probe and resolve practices undermining consumer rights, disrupting markets, or creating unfair competition.

It noted that the engagement with the firms will provide the avenue to address concerns, clarify business practices, and enforce compliance with regulatory standards.

It stated that the companies would appear before the Commission on designated days to provide information.

FCCPC speaks on the solution to food price hikes Legit.ng earlier reported that the FCCPC had advised Nigerians to be patient in response to the nationwide rise in food prices.

NAN reported that this was stated on Tuesday during an interactive session with traders at the Dawanau and Galadima markets in Kano.

Adamu Abdullahi, the acting executive vice chairman of the FCCPC, said that the government is making appropriate efforts to address the problem.