Rights Abuses: FCCPC Recovers N10bn for Aggrieved Consumers

•Loan deductions, account charges, transaction disputes in banks top complaints

James Emejo in Abuja

Federal Competition and Consumer Protection Commission (FCCPC), yesterday, revealed that over N10 billion was recovered for consumers whose rights were breached across key sectors of the economy.

The commission, in its updated data on consumer complaints covering March to August, 2025, stated that 9,091 complaints were resolved during the reporting period – reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress.

Commenting on the findings, Executive Vice Chairman/Chief Executive, FCCPC, Mr. Tunji Bello, said, “These numbers are not just statistics; they tell the story of consumer frustration, and the daily challenges Nigerians face in essential services.

“However, the FCCPC is determined to hold businesses accountable, ensure compliance with the FCCPA, and promote fair market practices that protect the welfare of all consumers.”

The data covers consumer grievances ranging from unfair charges, service failure, unauthorised deductions, deceptive marketing, poor disclosure of terms, product defects, and failure to provide redress within acceptable timelines.

The findings provided insight into the patterns and prevalence of consumer dissatisfaction across 30 sectors, led by banking (3,173 complaints), Fast Moving Consumer Goods (FCMG) (1,543), fintech (1,442), and electricity (458).

Other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport, and logistics (114).

In a statement, FCCPC said the publication of sector-specific complaint data aligned with the commission’s mandate under Sections 17(a), 17(j) of the FCCPA 2018, which empowered it to enforce consumer protection laws and make information on its functions available to the public.

The report further disclosed that banking wasthe dominant source of consumer complaints, both in volume and financial exposure, highlighting recurring issues in loan deductions, account charges, and transaction disputes, and “reflecting public reliance on the FCCPC to intervene in systemic financial service challenges”.

FCCPC stated, “Banking and fintech dominate by financial impact, showing consumer vulnerability where services are both essential and high value, signalling an urgent need for stronger joint regulation with the Central Bank of Nigeria (CBN).

“With 458 reported complaints, the electricity sector ranks 4th overall, behind banking, financial services, and FCMG, highlighting persistent billing disputes, service delivery failures, and the need for stronger coordination between the FCCPC, NERC, state electricity regulatory agencies and electricity distribution companies (DisCos). 

“E-commerce disputes are relatively low-value but high-frequency, signaling broad consumer exposure at the retail level.  While average monetary losses per complaint are low, the volume and recurrence of disputes (deliveries, refunds, counterfeit goods) reveal e-commerce as a growing consumer pain point. 

“Interestingly, the report of the high incidence of disputes linked to digital lending, investment schemes, and microfinance services coincided with the unveiling of a new regulation by FCCPC to curb abuses in the digital lending sector. “

The commission emphasised that it was intensifying monitoring, enforcement, and collaboration with sector regulators to address these concerns. It said focus remained on financial and utility services, where recurring patterns of consumer exploitation required corrective action.

“The commission encourages regulated entities to study these data trends and strengthen internal mechanisms for handling consumer complaints, ensuring that issues are addressed promptly and equitably,” it added.