The Federal Competition and Consumer Protection Commission has initiated a probe into reported breaches of consumer rights by GTBank, MTN Nigeria and Air Peace.
The inquiries, set for December 3, 4 and 5, have the goal of tackling increasing concerns regarding inadequate service provision and potentially unfair practices in the banking, telecommunications and aviation industries.
The FCCPC will work with GTBank to respond to persistent reports of network outages, which are said to have prevented customers from accessing funds or using banking applications.
The investigation is aimed at assessing whether the bank’s operations comply with consumer protection standards.
MTN Nigeria will be under investigation for issues concerning failure to provide data services, unexplained data interruptions, and insufficient customer assistance.
The Commission will assess if these issues constitute a breach of consumer rights and if suitable solutions are accessible.
Air Peace Limited is being investigated for alleged price gouging, in particular significant price increases for advance bookings on domestic routes.
The FCCPC intends to determine whether these practices have a detrimental effect on consumers. The investigations are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) of 2018, which empowers the Commission to combat conduct that undermines consumer rights and fair competition. Sections 17, 18, 32, 33, 80, 110, 111, 112 and 113 of the Act provide the legal basis for these undertakings.
According to the FCCPC, these investigations will provide companies with an opportunity to clarify their business practices and ensure compliance with regulatory standards.
“Companies will be asked to appear before the Commission on designated dates to provide information and feedback to help the Commission make decisions and resolve outstanding issues expeditiously,” the statement said.
FCCPC Director of Corporate Affairs, Ondaje Ijagwu, reaffirmed the Commission’s commitment to protecting consumer rights and ensuring accountability.
“This action reflects the Commission’s commitment to promoting a fair marketplace and ensuring accountability across all sectors.
“The FCCPC encourages consumers to continue reporting instances of poor service or predatory behavior through its official channels, emphasizing the importance of public participation in promoting fair business practices,” Ijagwu said.