This followed a major inquiry into widespread consumer complaints against the leading players in the banking, telecommunications, and aviation sectors.
By Ife Osemedua
365Daily – The Federal Competition and Consumer Protection Commission (FCCPC) has invited MTN Nigeria, Guaranty Trust Bank (GTB), and Air Peace Nigeria to defend itself on allegations of poor and exploitative practices against their customers.
Director of Corporate Affairs at FCCPC, Ondaje Ijagwu, in a statement released on Sunday, December 1, 2024, stated that this followed a major inquiry into widespread consumer complaints against the leading players in the banking, telecommunications, and aviation sectors.
Ijagwu added that the inquiries, which will run through December 3rd, 4th, and 5th, respectively, 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 Commission to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.
He explained that the engagement with the companies would provide a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards.
Going further, he said: “For instance, in the banking sector, the FCCPC will engage GTB over reports of network failures that hinder customers from accessing their funds or using banking applications.
“In the telecommunications sector, MTN Nigeria will face 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.”
While assuring the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors Ijagwu urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.