The Federal Competition and Consumer Protection Commission (FCCPC) has made a significant announcement, revealing the recovery of a total of N10 billion for aggrieved consumers who filed complaints against banks, fintechs, and other businesses.
In a statement released on Thursday by Ondaje Ijagwu, the Director of Corporate Affairs at FCCPC, the Commission outlined the recoveries made following complaints filed between March and August 2025. The data compiled from the Commission’s complaint resolution platforms indicated that the top sectors for consumer complaints included banking, Fast Moving Consumer Goods (FMCG), fintech, and electricity, among others.
During the reporting period, a total of 9,091 complaints were resolved, with consumers receiving recoveries exceeding N10 billion. The Commission emphasized that the data reflects the challenges faced by consumers, ranging from unfair charges to service failures and product defects.
Mr. Tunji Bello, the Executive Vice Chairman/Chief Executive Officer of the Commission, highlighted the importance of holding businesses accountable and promoting fair market practices to protect consumer welfare.
The publication of sector-specific complaint data aligns with the FCCPC’s mandate to enforce consumer protection laws and provide transparency on its functions to the public. The report emphasized recurring issues in the banking sector, such as loan deductions and transaction disputes, highlighting the need for stronger regulation in collaboration with the Central Bank of Nigeria.
The electricity sector also faced challenges related to billing disputes and service delivery failures, calling for improved coordination between the FCCPC, NERC, and electricity distribution companies. E-commerce disputes were noted to be high-frequency, indicating a growing consumer pain point that requires attention from businesses and regulators.
The FCCPC is intensifying monitoring, enforcement, and collaboration efforts to address consumer concerns. Regulated entities were urged to analyze data trends and enhance internal mechanisms for handling complaints promptly and fairly. Consumers were encouraged to report violations through the FCCPC complaint portal or via zonal and state offices.
