Nigerian Govt Sanctions GTB, Air Peace, And MTN Details

The Federal Competition and Consumer Protection Commission (FCCPC) has announced an inquiry into widespread consumer complaints targeting major players in the banking, telecommunications, and aviation sectors.....KINDLY READ THE FULL STORY HERE▶

FCCPC Director of Corporate Affairs, Ondaje Ijagwu, revealed this development in a statement on Sunday.

In the banking sector, the Commission is set to investigate Guaranty Trust Bank (GTB) over complaints of network failures that prevent customers from accessing funds or utilizing banking applications.

In the telecommunications sector, MTN Nigeria is under scrutiny for persistent reports of undelivered data services, unexplained data depletion, and inadequate customer support.

Air Peace Limited is also being investigated over allegations of exploitative ticket pricing, including steep price hikes for advance bookings on select domestic routes.

The inquiries, scheduled to begin on December 3rd, 4th, and 5th respectively, aim to address concerns of poor service delivery, exploitative practices, and potential consumer rights violations. These investigations will be conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the FCCPC to resolve issues related to consumer rights, market disruptions, and unfair competition.

The FCCPC emphasized that its engagement with these companies is an opportunity 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 dates to provide information and responses, ensuring timely resolutions of the issues.

“This action underscores the Commission’s dedication to protecting consumer rights, promoting a fair marketplace, and ensuring accountability across sectors. We encourage consumers to continue reporting poor service delivery or exploitative practices through the FCCPC’s official channels,” the statement concluded.