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.
A statement by the Director, Corporate Affairs, FCCPC, Ondaje Ijagwu, on Sunday said inquisitions, which will begin on December 3rd, 4th, and 5th respectively, would address issues of poor service delivery, exploitative practices, and potential consumer rights violations.
The statement added, “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 banking applications.
”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.
-Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
”These inquiries 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 empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.
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 dsignated days to provide information and responses to enable the Commission to make determinations and resolve pending issues promptly.