By Stellamaries Amuwa
The Executive Vice-Chairman/CEO of the Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera, has underscored the importance of regulating digital money lenders and recounted the agency’s successes in reducing defamatory messages and harassment by at least 80%.
He made this known to journalists yesterday in Abuja while reflecting on the agency’s journey, and the on-going challenges and need for collective efforts to create a better-regulated ecosystem.
He reiterated the need for more ethical lending practices and expressed concern about borrowers facing difficulties in repaying loans due to unfair interest calculations.
Speaking on the aviation sector, Irukera showed concerns about rising airfares and the responsiveness of airlines to delays and cancellations.
He encouraged transparency in communicating issues with passengers and suggested airline scorecard to educated consumers about each airline’s performance.
“The commission exists because of a public that is so badly disconcerted by she services they receive,” he said.
He used the opportunity to appeal to both public and private corporations to open up and be alive to their social pact with their customers in order to ease difficulties being experienced in adjudicating over complaints.
He reminded them that it is their statutory responsibility for them to satisfy their customers, appealing to the media to call out issues of public dissatisfaction.
Irukera noted that since he took over the helms of affairs of FCCPC, brands and businesses fear members of the public more because if the Commission turns its back on them, the only place they go is “down”.
The EVC noted that as a regulatory agency, they have vowed to live up to expectation, assuring that the management and staff though not motivated as they ought to be done, they are determined to work hard to achieve more.
Recall that FCCPC, through its regulatory activities compelled the British-America Tobaco Comany Plc pay over $110 million as settlement for brrleach of professional manufacturing practice.
Meanwhile, he also noted the importance of collaborating with the media in holding companies accountable, citing instances where negative reviews led to positive changes.
He urged the media to continue playing a crucial role in consumer protection.
