The Federal Competition and Consumer Protection Commission (FCCPC) has initiated investigations into several leading Nigerian companies, including Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace, in response to numerous consumer complaints.
In a statement signed and posted on X via its official handle @fccpcnigeria by Ondaje Ijagwu Director, Corporate Affairs at the FCCPC, the investigations, scheduled to commence in December will focus on:
- GT Bank: Allegations of frequent network failures and disruptions, hindering customers’ access to their funds and banking services.
- MTN Nigeria: Persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
- Air Peace: Concerns over exploitative ticket pricing, particularly significant price hikes for advance bookings on certain domestic routes.
The statement noted that these inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the FCCPC to investigate and address practices that harm consumer rights and disrupt fair competition.
The FCCPC aims to use these investigations to address consumer concerns and complaints, clarify business practices and ensure compliance with regulatory standards and promote fair competition and protect consumer rights.
The companies involved will be required to appear before the Commission on designated dates to provide information and respond to the allegations.
The FCCPC encourages consumers to continue reporting instances of poor service delivery or exploitative practices through its official channels.
