The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a sweeping investigation into Guaranty Trust Bank (GTBank), MTN Nigeria, and Air Peace over widespread consumer complaints.
The inquiry, set to begin on December 3, 4, and 5, aims to address concerns about poor service delivery, exploitative practices, and potential violations of consumer rights.
FCCPC Director of Corporate Affairs, Ondaje Ijagwu, announced the investigation in a statement on Sunday, emphasizing the Commission’s commitment to protecting consumer rights and ensuring market accountability.
GTBank will be probed over numerous reports of network failures that have left customers unable to access their funds or use banking applications.
MTN Nigeria faces scrutiny for persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer support.
Air Peace will address allegations of exploitative ticket pricing, particularly concerning significant price hikes for advance bookings on certain domestic routes.
The FCCPC stated that the investigations are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, citing Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113.
These sections empower the Commission to investigate practices that undermine consumer rights, distort markets, or create unfair competition.
The inquiries aim to provide a platform for resolving consumer grievances, clarifying business practices, and enforcing compliance with regulatory standards.
The Commission has mandated the companies to appear before it on designated dates to provide information and responses to the allegations.
“This action reflects the FCCPC’s dedication to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across key sectors,” Ijagwu said.
Consumers are encouraged to continue reporting instances of poor service delivery or exploitative practices through FCCPC’s official channels to aid in the ongoing investigations.