By Ufoh Awele Anthony
Copyright independent
Anthony Ufoh
The Federal Competition and Consumer Protection Commission (FCCPC) stated that approximately N10 billion has been recovered for consumers in the nation between March and August 2025.
The FCCPC listed the banking, Fintech, and Fast-Moving Consumer Goods (FMCG) sectors as the sources of the highest number of complaints during the period.
Ondaje Ijagwu, Director, Corporate Affairs, FCCPC, said this in a statement on Thursday on consumer complaints received and resolved across key sectors of the Nigerian economy by the commission within the six months.
He said, “The top ten sectors by number of complaints received between March and August 2025 were led by banking (3,173 complaints), followed by FCMG (1,543), Fintech (1,442), and electricity (458).
“Other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport and logistics (114),” the commission stated.
The findings revealed that the banking sector is the dominant source of consumer complaints, both in volume and financial exposure, highlighting recurring issues in loan deductions, account charges, and transaction disputes, and reflecting public reliance on FCCPC to intervene in systemic financial service challenges.
According to Ijagwu, the data covers consumer grievances ranging from unfair charges, service failure, unauthorised deductions, deceptive marketing, poor disclosure of terms, product defects, and failure to provide redress within acceptable timelines.
“The total number of complaints resolved during the reporting period was 9091, while total recoveries for consumers exceeded N10 billion, reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress.
“The publication of sector-specific complaint data aligns with the Commission’s mandate under Sections 17(a), 17(j) of the FCCPA 2018, which empower it to enforce consumer protection laws and make information on its functions available to the public,” he said.
Reacting to the findings, Executive Vice Chairman/Chief Executive Officer of FCCPC, Mr. Tunji Bello, said: “These numbers are not just statistics; they tell the story of consumer frustration, and the daily challenges Nigerians face in essential services.
“However, FCCPC is determined to hold businesses accountable, ensure compliance with the FCCPA, and promote fair market practices that protect the welfare of all consumers.”
