The Federal Competition and Consumer Protection Commission (FCCPC) has launched a major inquiry into widespread consumer complaints against leading players in the banking, telecommunications and aviation sectors.
The inquisitions, scheduled for December 3rd, 4th, and 5th respectively, are expected to address issues of poor service delivery, exploitative practices and potential consumer rights violations.
In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using their bank applications.
There were also customers who had reported the GTB of not sending SMS or email on their transactions, thereby dent NG them access to the true state of their accounts.
Others also accused the GTB of excessive and sometimes, anomalous charges which have piled up for months and years to the consternation of the customers.
Most of these customers are found in the long queues at the GTB’s Customer Service Desks across their banks, making people to conclude that the bank is the most customer-tasked bank in the country, which would rather take punitive actions against their customers or simply ignore or compound such problems.
In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion and inadequate customer care.
Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes, especially the South-East routes, close to festivities when a large bulk of people from the area travel home.
These inquisitions 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 empowers the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.
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 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,” a statement from the FCCPC stated.
