The Federal Competitors and Client Safety Fee (FCCPC) on Thursday launched new knowledge exhibiting it obtained greater than 9,000 shopper complaints between March and August, resolving instances that led to recoveries of over N10 billion.
The fee disclosed this in an announcement signed by its Director of Company Affairs, Ondaje Ijagwu.
Banking topped the checklist with 3,173 complaints, adopted by fast-moving shopper items (1,543), fintech (1,442) and electrical energy (458).
Different sectors included e-commerce (412), telecommunications (409), retail and procuring (329), aviation (243), data know-how (131) and street transport and logistics (114).
The fee mentioned the grievances ranged from unfair prices, unauthorised deductions and misleading advertising and marketing to product defects and failure to supply redress inside acceptable timelines.
“These numbers should not simply statistics; they inform the story of shopper frustration, and the each day challenges Nigerians face in important companies,” FCCPC Government Vice Chairman/Chief Government Officer Tunji Bello mentioned.
“Nonetheless, the FCCPC is set to carry companies accountable, guarantee compliance with the FCCPA, and promote truthful market practices that defend the welfare of all customers.”
Banking remained the dominant supply of grievances, each in quantity and monetary publicity, with recurring disputes over mortgage deductions, account prices and failed transactions.
The fee mentioned the prevalence of economic sector disputes highlighted the reliance of the general public on its intervention in systemic challenges.
Banking and fintech collectively accounted for the very best monetary affect, revealing shopper vulnerability in important, high-value companies. The FCCPC mentioned the pattern pointed to the necessity for stronger joint oversight with the Central Financial institution of Nigeria (CBN).
Electrical energy ranked fourth with 458 complaints, largely billing disputes and repair failures. The fee mentioned the findings underlined the significance of nearer coordination between the FCCPC, the Nigerian Electrical energy Regulatory Fee (NERC), state regulators and distribution corporations.
E-commerce disputes had been described as comparatively low in financial worth however excessive in frequency. The fee famous recurring complaints over delayed deliveries, refunds and counterfeit items, reflecting rising publicity of customers to on-line transactions.
The report additionally flagged a excessive incidence of disputes linked to digital lending, funding schemes and microfinance companies.
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The FCCPC mentioned this coincided with the disclosing of a brand new regulation to curb abuses within the digital lending sector.
It mentioned it was intensifying monitoring, enforcement and collaboration with different regulators, notably in monetary and utility companies, the place recurring patterns of shopper exploitation required corrective motion. It inspired corporations to review the information and enhance inside grievance dealing with.
The fee reminded customers to proceed reporting violations via the FCCPC grievance portal, its zonal and state workplaces, noting that every report helps establish systemic points and implement compliance.
