FCCPC probes consumer complaints against GTBank, MTN, Air Peace

• Published On: 01 December 2024 at 19:43

The Federal Competition and Consumer Protection Commission has announced the commencement of an extensive investigation into widespread consumer complaints involving major banking, telecommunications, and aviation corporations, including GTBank, MTN, and Air Peace.

Ondaje Ijagwu, the Commission's Director of Corporate Affairs, confirmed the news in a statement issued on Sunday. The investigations, which are scheduled to begin on December 3, 4, and 5, will explore allegations of poor service delivery, exploitative activities, and potential violations of consumer rights.

GTBank is being investigated for repeated network problems that have allegedly prohibited consumers from accessing their accounts or using banking services. In the telecommunications sector, MTN Nigeria is under fire for undeliverable data services, inexplicable data depletion, and poor customer service.

Meanwhile, Air Peace is being investigated for alleged exploitative ticket pricing practices, including considerable price increases on select domestic routes.

The FCCPC noted that these investigations are being carried out under the Federal Competition and Consumer Protection Act of 2018. Relevant portions of the Act give the Commission the authority to investigate and resolve actions that violate consumer rights, disrupt markets, or generate unfair competition.

The Commission emphasized that the engagement with the companies would provide an opportunity to address consumer concerns, clarify business operations, and assure regulatory compliance. Companies will be compelled to appear before the Commission on specific dates to submit information and responses to help resolve the issues.

"This action reflects the Commission's commitment to protecting consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors," the spokesperson said. The FCCPC also asked consumers to continue reporting cases of poor service or exploitative tactics through its proper channels.

The claims against GTBank may be related to its recent transfer to a new core banking system, which resulted in service outages for many weeks.

Last Monday, the bank issued a public apology, citing issues experienced during the conversion to the Finacle Suite of Core Banking Applications.