FCCPC Secures N10bn For Customers Over Complaints Against Banks, Others

Contributing sentiments towards policy:

55% : "Banking and fintech domi­nate by financial impact, showing consumer vulnerability where services are both essential and high value, signalling an urgent need for stronger joint regulation with the Central Bank of Nigeria (CBN). "With 458 reported complaints, the electricity sector ranks 4th overall, behind banking, financial services, and FCMG, highlighting persistent billing disputes, service delivery failures, and the need for stronger coordination between the FCCPC, Nigerian Electricity Regulatory Commission (NERC), state electricity regulatory agen­cies and electricity distribution companies (DisCos).
46% : "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.
42% : " Ijagwu said banking 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 the FCCPC to intervene in systemic financial service challenges.

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