The Federal Competitors and Shopper Safety Fee (FCCPC) mentioned it has launched a serious inquiry into widespread client complaints towards main gamers within the banking, telecommunications, and aviation sectors comprising GTBank, MTN, and Air Peace.
The Fee disclosed this in a press release signed by its Director of Company Affairs, Ondaje Ijagwu, issued on Sunday.
Based on the assertion, the inquisitions, which is able to start on December third, 4th, and fifth respectively, are supposed to deal with problems with poor service supply, exploitative practices, and potential client rights violations.
Allegations towards the businesses
FCCPC mentioned Guaranty Trust Bank (GTB) is being investigated over studies of community failures that hinder clients from accessing their funds or utilizing banking functions.
“Within the telecommunications sector, MTN Nigeria faces questions concerning persistent complaints of undelivered information companies, unexplained information depletion, and insufficient customer care.
“Equally, Air Peace Restricted will deal with allegations of exploitative ticket pricing, together with vital worth hikes for bookings on sure home routes,” the Fee acknowledged.
Authorized backing
FCCPC mentioned the inquiries are being performed below the Federal Competitors and Shopper Safety Act (FCCPA) 2018, particularly Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the Fee to research and resolve practices that undermine client rights, disrupt markets, or create unfair competitors.
- It added that the engagement with these firms would offer a platform to deal with client considerations, make clear enterprise practices, and implement compliance with regulatory requirements.
- The businesses will probably be required to seem earlier than the Fee on designated days to offer info and responses to allow the Fee to make determinations and resolve pending points promptly.
“This motion displays the Fee’s dedication to safeguarding client rights, fostering a good market, and making certain accountability throughout all sectors.
“We urge customers to proceed to report cases of poor service supply or exploitative practices to the FCCPC by its official channels,” the Fee acknowledged.
What you must know
The allegations of community failure towards GTB is probably not unconnected with the bank’s latest transition to a brand new core banking utility, which disrupted its companies for weeks.
Final week, the bank issued an apology to all its clients, with explanations that it confronted difficulties within the means of transitioning to a brand new core banking system, Finacle Suite of Core Banking Software.
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