The Federal Competition and Consumer Protection Commission (FCCPC) has initiated an investigation targeting leading companies in banking, telecommunications, and aviation sectors to address widespread consumer complaints and potential rights violations.
FCCPC Director of Corporate Affairs, Ondaje Ijagwu, revealed the details of these inquisitions scheduled for December 3rd, 4th, and 5th, emphasizing the Commission’s commitment to protecting consumer interests and ensuring fair market practices.
The strategic investigation will focus on three major industry players: Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited. Each company faces specific scrutiny for reported consumer service challenges that potentially breach regulatory standards.
Guaranty Trust Bank will be questioned regarding persistent network failures preventing customers from accessing their funds or effectively using banking applications. MTN Nigeria confronts allegations of undelivered data services, unexplained data depletion, and substandard customer support. Air Peace Limited must address accusations of exploitative ticket pricing, particularly significant price increases for advance bookings on domestic routes.
The Commission underscored that these inquiries are conducted under specific provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018, particularly Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113. These legislative provisions empower the FCCPC to investigate and resolve practices that potentially undermine consumer rights, disrupt market dynamics, or create unfair competitive environments.
“This action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace and ensuring accountability across all sectors,” the official statement emphasized.
The FCCPC encouraged consumers to continue reporting instances of poor service delivery or exploitative practices through its official communication channels.
Participating companies will be required to appear before the Commission on designated dates, providing information and responses.
The objective is to facilitate prompt resolution of pending issues and establish clear standards for consumer protection.
