FCCPC Investigates GTBank, MTN, Air Peace Over Poor Service and Exploitative Practices

The FCCPC launches an investigation into GTBank, MTN, and Air Peace following allegations of poor service delivery and exploitative practices, aiming to protect consumer rights.

The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a significant investigation in response to numerous consumer complaints regarding prominent companies within the banking, telecommunications, and aviation industries.

A statement issued by Ondaje Ijagwu, Director of Corporate Affairs at FCCPC, on Sunday announced that inquisitions starting on December 3rd, 4th, and 5th are planned to address concerns about poor service delivery, exploitative practices, and potential violations of consumer rights.

In the banking industry, the FCCPC plans to engage with Guaranty Trust Bank (GTB) regarding reports of network failures that prevent customers from accessing their funds or using banking applications.

In the telecommunications industry, MTN Nigeria is confronted with issues surrounding ongoing complaints about undelivered data services, unexplained loss of data, and insufficient customer support.

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In a similar manner, Air Peace Limited will tackle accusations of exploitative ticket pricing, including substantial price increases for advance bookings on specific domestic routes.

These investigations are being carried out under the Federal Competition and Consumer Protection Act (FCCPA) of 2018. Specifically, Sections 17, 18, 32, 33, 80, and from sections110 to113 authorize the FCCPC to examine and address actions that violate consumer rights or disrupt markets by causing unfair competition.

According to the FCCPC, their interaction with these companies creates an opportunity to tackle consumer issues, explain business practices, and ensure adherence to regulatory standards. The companies must attend sessions before the Commission on designated days to supply information and answers that will allow the Commission to make decisions and swiftly resolve outstanding matters.