The Federal Competitors and Client Safety Fee (FCCPC) stated it has launched a serious inquiry into widespread client complaints in opposition to main gamers within the banking, telecommunications, and aviation sectors comprising GTBank, MTN, and Air Peace.
The Fee disclosed this in an announcement signed by its Director of Company Affairs, Ondaje Ijagwu, issued on Sunday.
In line with the assertion, the inquisitions, which can start on December third, 4th, and fifth respectively, are meant to handle problems with poor service supply, exploitative practices, and potential client rights violations.
FCCPC stated Guaranty Trust Financial institution (GTB) is being investigated over reviews of community failures that hinder prospects from accessing their funds or utilizing banking functions.
“Within the telecommunications sector, MTN Nigeria faces questions relating to persistent complaints of undelivered knowledge providers, unexplained knowledge depletion, and insufficient buyer care.
“Equally, Air Peace Restricted will handle allegations of exploitative ticket pricing, together with vital value hikes for bookings on sure home routes,” the Fee acknowledged.
FCCPC stated the inquiries are being performed underneath the Federal Competitors and Client Safety Act (FCCPA) 2018, particularly Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the Fee to analyze and resolve practices that undermine client rights, disrupt markets, or create unfair competitors.
“This motion displays the Fee’s dedication to safeguarding client rights, fostering a good market, and guaranteeing accountability throughout all sectors.
“We urge customers to proceed to report situations of poor service supply or exploitative practices to the FCCPC via its official channels,” the Fee acknowledged.
The allegations of community failure in opposition to GTB will not be unconnected with the financial institution’s current transition to a brand new core banking utility, which disrupted its providers for weeks.
Final week, the financial institution issued an apology to all its prospects, with explanations that it confronted difficulties within the means of transitioning to a brand new core banking system, Finacle Suite of Core Banking Software.
