The Federal Competition and Consumer Protection Commission (FCCPC) says it has secured recoveries exceeding N10 billion for aggrieved consumers, following complaints against banks, fintechs, electricity providers, and other sectors.
The Commission disclosed this in a statement on Thursday, noting that the recoveries covered cases lodged between March and August 2025 through its various complaint resolution platforms.
Updated sectoral data showed that banking accounted for the highest number of complaints, with 3,173 cases, followed by fast-moving consumer goods with 1,543 complaints, fintech with 1,442, and electricity with 458. Other affected sectors included e-commerce (412), telecommunications (409), retail and shopping (329), aviation (243), information technology (131), and road transport and logistics (114).
According to the FCCPC, a total of 9,091 complaints were resolved during the six-month period, reflecting widespread grievances over unfair charges, unauthorised deductions, deceptive marketing, defective products, and service failures. The recoveries, valued at more than N10 billion, were described as a measure of both the financial burden faced by consumers and the importance of effective redress mechanisms.
The Executive Vice Chairman of the FCCPC said the numbers highlight the depth of frustration Nigerians endure across essential services. He stressed that the Commission remains committed to holding businesses accountable, enforcing compliance with the Federal Competition and Consumer Protection Act (FCCPA), and safeguarding consumer welfare.
The publication of sector-specific data, the FCCPC added, aligns with its mandate under the FCCPA to ensure transparency and empower the public with information. Banking and fintech, it said, dominate not only by volume of complaints but also by financial impact, underscoring systemic vulnerabilities in Nigeria’s financial services sector and the need for stronger regulatory coordination with the Central Bank of Nigeria.
The report also pointed to persistent challenges in the electricity sector, where billing disputes and poor service delivery ranked fourth among consumer complaints. In e-commerce, although financial losses per case remain relatively small, high-frequency disputes involving deliveries, refunds, and counterfeit products reveal growing risks for everyday consumers.
The Commission announced it is stepping up monitoring, enforcement, and collaboration with other regulators to address these issues. It urged businesses to strengthen internal mechanisms for resolving complaints, while encouraging consumers to continue reporting violations through its complaint portal and zonal offices.
