FCCPC Resolves 9,000 Consumer Grievances in 5 Months, Recovers N10bn Amid Surge in Banking, Fintech Complaints

The Federal Competition and Consumer Protection Commission (FCCPC) has resolved over 9,000 consumer complaints and recovered more than ₦10 billion for consumers in just five months, highlighting significant challenges faced by Nigerians across multiple sectors, particularly in banking and fintech.

This was revealed in a statement by Ondaje Ijagwu, director, Corporate Affairs, FCCPC, on Thursday,

According to data released by the FCCPC, complaints lodged between March and August 2025 reveal that banking remains the sector with the highest number of grievances, totaling 3,173 complaints. This was followed by Fast Moving Consumer Goods (1,543), fintech (1,442), and electricity (458). Other sectors experiencing high consumer dissatisfaction included e-commerce, telecommunications, retail, aviation, information technology, and road transport.

The complaints ranged from unfair charges, service failures, unauthorized deductions, deceptive marketing, poor disclosure of terms, product defects, to delayed or denied redress. In total, the Commission resolved 9,091 cases during this period, recovering over ₦10 billion for affected consumers, a figure that underscores the financial strain endured by Nigerians in the absence of effective consumer protections.

Reacting to the findings, FCCPC’s Executive Vice Chairman and Chief Executive Officer, Mr. Tunji Bello, remarked, “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 dominance of banking complaints highlights persistent issues including unlawful loan deductions, questionable account charges, and transaction disputes. These problems underline the public’s reliance on the FCCPC for intervention in systemic financial service failures. Moreover, the combined financial impact of complaints in banking and fintech sectors reveals a pressing need for stronger joint regulation with the Central Bank of Nigeria (CBN) to better safeguard consumers in these high-value service areas.

Electricity-related complaints, ranking fourth with 458 cases, reflect ongoing billing disputes and service delivery failures. The FCCPC emphasized the necessity for improved collaboration with the Nigerian Electricity Regulatory Commission (NERC), state agencies, and electricity distribution companies to address these issues effectively.

Meanwhile, e-commerce complaints, while generally low in monetary value, are high in frequency, pointing to widespread consumer exposure to problems such as delivery failures, refund delays, and counterfeit goods. This sector is increasingly becoming a significant area of consumer concern.

The surge in disputes related to digital lending, investment schemes, and microfinance coincides with the FCCPC’s introduction of new regulations aimed at curbing abuses in the digital lending space, signaling the Commission’s commitment to tackling emerging challenges in financial services.

The FCCPC is intensifying its monitoring, enforcement, and collaboration with sector regulators to address these recurring patterns of consumer exploitation, focusing especially on financial and utility services.

The Commission also urges regulated businesses to analyze these trends and enhance their internal complaint-handling mechanisms to resolve consumer issues promptly and fairly.

Consumers are encouraged to report violations through the FCCPC complaint portal at complaints.fccpc.gov.ng or via the Commission’s zonal and state offices. Every report helps the FCCPC identify systemic problems and enforce compliance to protect consumer rights.