Following a surge in consumer complaints, the Federal Competition and Consumer Protection Commission (FCCPC) has initiated investigations into three major Nigerian companies—Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace Limited.
The enquiries are scheduled to last three days, specifically between December 3 and 5, 2024 in order to address allegations of poor service delivery and exploitative practices across the banking, telecommunications and aviation sectors.
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Overview of the investigations
In a statement released on Sunday, FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, detailed the focus of these inquiries. The Commission aims to tackle issues such as:
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GTBank: The bank is under scrutiny due to a large volume of complaints about incessant network failures that have prevented customers from accessing their funds and digital banking services. This follows disruptions linked to the bank’s transition to a new core banking system in October 2024.
MTN Nigeria: Customers have reported ongoing problems with undelivered data services, unexplained data depletion, and inadequate customer support. These issues have raised significant concerns among users regarding the reliability of MTN’s services.
Air Peace Limited: The airline is facing allegations of exploitative ticket pricing, particularly concerning substantial fare increases for bookings on certain domestic routes. This has led to accusations of unfair pricing strategies that adversely affect consumers.
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Legal framework and consumer rights
The enquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) of 2018. This legislation empowers the FCCPC to investigate practices that may undermine consumer rights or disrupt market fairness. Ijagwu emphasised the importance of these inquiries by stating:
“These engagements provide a platform for companies to address consumer concerns and clarify their operational practices.”
The Commission is committed to fostering a fair marketplace and ensuring accountability among service providers. It has urged consumers to report poor service or exploitative practices through its official channels.
With the enquiries slated for next week, the FCCPC aims to resolve these issues swiftly while reinforcing its dedication to protecting consumer rights in Nigeria’s competitive landscape.