The move by the Federal Competition and Consumer Protection Commission (FCCPC) to probe Guaranty Trust Bank (GTB), Air Peace and MTN has elicited positive reactions among customers. BENJAMIN SAMSON in this report examines the significance of the inquiry.
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| Federal Competition and Consumer Protection Commission (FCCPC) |
The Federal Competition and Consumer Protection Commission (FCCPC) last week announced a comprehensive inquiry into mounting consumer grievances against major players in the banking, telecommunications, and aviation sectors.
The investigations, slated for 3rd, 4th, and 5th December, respectively, aim to tackle concerns over substandard service delivery, exploitative practices, and potential violations of consumer rights.
In a statement released on the agency’s X handle (former Twitter), Ondaje Ijagwu, FCCPC’s Director of Corporate Affairs, confirmed the dates for the inquiry, set to run from 3rd to 5th December.
He said, “In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) regarding complaints of network failures that prevent customers from accessing their funds or utilising banking applications.
“In the telecommunications sector, MTN Nigeria will address issues relating to persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
“Likewise, Air Peace Limited faces scrutiny over allegations of exploitative ticket pricing, including significant fare increases for advance bookings on specific domestic routes.”
“These inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, particularly Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113. The Act empowers the FCCPC to investigate and rectify practices that infringe upon consumer rights, distort market operations, or foster unfair competition.
“The 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 designated days to provide information and responses, enabling the Commission to resolve pending issues expediently.
“This initiative underscores the Commission’s dedication to safeguarding consumer rights, promoting a fair marketplace, and ensuring accountability across all sectors.
“We encourage consumers to continue reporting instances of poor service delivery or exploitative practices through the FCCPC’s official channels.”
Lamentations
Voices of disappointed bank customers who have experienced the adverse effects of poor banking services firsthand speak volumes to how poor services have been rendered by banks in recent times.
Sabitu Megbon, an Abuja-based trader, expressed his frustration, saying, “It’s been a nightmare running my business. Almost every other day, I struggle to access funds to restock, and with no notice of these service downtimes, I’m constantly left hanging. This has cost me loyal customers who think I’m unreliable.”
Chinedu Okeke, a small business owner, shared his ordeal thus, “I rely on online transactions to pay my suppliers, but the bank’s app crashes whenever I need it the most. I’ve had suppliers cut ties with me because payments don’t go through on time. It’s unfair that banks don’t take responsibility for these repeated failures.”
Telecoms
Also, Eyitayo Samuel, an undergraduate at the Lagos State University (LASU), accused network providers of giving false information, adding that the data package of N500, which should last for seven days, no longer lasts more than a day.
“I use MTN. If you buy 3gb worth of data for N500, it only lasts for one day. Normally the network operators will say the 3gb is supposed to last for seven days but now I use the 3gb in one day, sometimes it finishes before 24 hours. Sometimes I buy twice a day,” he said.
Consumer rights’ violation: Nigerians jubilate as FG probes airlines, banks, telecoms
The move by the Federal Competition and Consumer Protection Commission (FCCPC) to probe Guaranty Trust Bank (GTB), Air Peace and MTN has elicited positive reactions among customers. BENJAMIN… pic.twitter.com/3EfHOPlQuC
— FCCPC Nigeria (@fccpcnigeria) December 7, 2024
