FCCPC recovers N10 billion for aggrieved clients following complaints towards banks, fintech, others 

The Federal Competitors and Shopper Safety Fee (FCCPC) has introduced the overall recoveries of  N10 billion for aggrieved customers following complaints towards banks, fintechs, and others.

This was disclosed in a press release signed by Ondaje Ijagwu, FCCPC, Director, Company Affairs, on Thursday.

The event follows up to date information on client complaints acquired and resolved throughout key sectors of the Nigerian economic system.

Information 

The info, based on the Fee, coated circumstances lodged with the Fee between March and August 2025, compiled from the Fee’s criticism decision platforms.

“The highest ten sectors by variety of complaints acquired between March and August 2025 had been led by banking (3,173 complaints), adopted by Quick Transferring Shopper Items (FCMG) (1,543), fintech (1,442), and electrical energy (458).  

“Different notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/buying (329), aviation (243), info expertise (131), and street transport and logistics (114),” the Fee said.

• The Fee careworn that the info covers client grievances starting from unfair expenses, service failure, unauthorised deductions, misleading advertising, poor disclosure of phrases, product defects, and failure to supply redress inside acceptable timelines.

 “The entire variety of complaints resolved through the reporting interval was 9091, whereas complete recoveries for customers exceeded N10 billion (Ten Billion Naira), reflecting each the size of hurt skilled and the numerous monetary burden borne by customers within the absence of efficient redress,” the FCCPC added.

Reacting to the findings, the Govt Vice Chairman/Chief Govt Officer of the Fee, Mr. Tunji Bello, stated: “These numbers are usually not simply statistics; they inform the story of client frustration, and the day by day challenges Nigerians face in important companies. Nonetheless, the FCCPC is decided to carry companies accountable, guarantee compliance with the FCCPA, and promote truthful market practices that shield the welfare of all customers.” 

Extra Insights  

The publication of sector-specific criticism information is alleged to align with the Fee’s mandate below Sections 17(a), 17(j) of the FCCPA 2018, which empower it to implement client safety legal guidelines and make info on its features out there to the general public.

• In accordance with the report, Banking is the dominant supply of client complaints, each in quantity and monetary publicity, highlighting recurring points in mortgage deductions, account expenses, and transaction disputes, and reflecting public reliance on the FCCPC to intervene in systemic monetary service challenges.

“Banking and fintech dominate by monetary influence, exhibiting client vulnerability the place companies are each important and excessive worth, signalling an pressing want for stronger joint regulation with the Central Bank of Nigeria (CBN). 

“With 458 reported complaints, the electrical energy sector ranks 4th general, behind banking, monetary companies, and FCMG, highlighting persistent billing disputes, service supply failures, and the necessity for stronger coordination between the FCCPC, NERC, state electrical energy regulatory companies and electrical energy distribution firms (DisCos). 

“E-commerce disputes are comparatively low-value however high-frequency, signalling broad client publicity on the retail degree. Whereas common financial losses per criticism are low, the amount and recurrence of disputes (deliveries, refunds, counterfeit items) reveal e-commerce as a rising client ache level,” the assertion added.

• The Fee said it’s intensifying monitoring, enforcement, and collaboration with sector regulators to deal with these considerations.
• The Fee inspired regulated entities to check its information tendencies and strengthen inner mechanisms for dealing with client complaints, guaranteeing that points are addressed promptly and equitably.

Customers had been inspired to proceed reporting violations by means of the FCCPC criticism portal: complaints.fccpc.gov.ng, or FCCPC zonal and state workplaces.