FCCPC Recovers N10 Billion for Consumers in Five Months, Banking Sector Tops Complaints

The Federal Competition and Consumer Protection Commission (FCCPC) has disclosed that it recovered over ?10 billion for Nigerian consumers between March and August 2025, following complaints against banks, fintech companies, and other service providers.

The figure was contained in a statement signed by Ondaje Ijagwu, Director of Corporate Affairs at the Commission, on Thursday.

Consumer Complaints by Sector

According to the report, the top ten sectors with the highest number of complaints were:

• Banking – 3,173 complaints
• Fast-Moving Consumer Goods (FMCG) – 1,543
• Fintech – 1,442
• Electricity – 458
• E-commerce – 412
• Telecommunications – 409
• Retail/Wholesale/Shopping – 329
• Aviation – 243
• Information Technology – 131
• Road Transport & Logistics – 114

The Commission explained that the grievances included unfair charges, unauthorized deductions, deceptive marketing, product defects, service failures, poor disclosure of terms, and failure to provide timely redress.

Resolution and Recoveries

Between March and August 2025, the FCCPC resolved 9,091 complaints. Recoveries exceeded ?10 billion, reflecting both the scale of consumer harm and the financial relief provided through the Commission’s intervention.

FCCPC Executive Vice Chairman/CEO, Mr. Tunji Bello, said the report underscores the daily struggles Nigerians face in accessing essential services.

“These numbers are not just statistics; they tell the story of consumer frustration and the daily challenges Nigerians face in essential services. However, the FCCPC is determined to hold businesses accountable, ensure compliance with the law, and promote fair market practices that protect consumers’ welfare,” Bello said.

Sector Insights

• Banking & Fintech: Dominated complaints by volume and financial impact, especially around loan deductions, account charges, and transaction disputes. The FCCPC stressed the need for stronger joint regulation with the Central Bank of Nigeria (CBN).
• Electricity: Ranked 4th with 458 complaints, mainly billing disputes and service failures, signaling the need for deeper collaboration with the Nigerian Electricity Regulatory Commission (NERC) and DisCos.
• E-commerce: Disputes were frequent though mostly low-value, revolving around delivery failures, refunds, and counterfeit goods, showing it is an emerging consumer risk area.

Strengthening Consumer Protection

The FCCPC said publishing sector-specific data aligns with its mandate under Sections 17(a) and 17(j) of the FCCPA 2018, empowering it to enforce consumer protection laws and make information publicly accessible.

The Commission pledged to intensify monitoring and enforcement while encouraging businesses to strengthen their internal complaints-handling systems.

Consumers were urged to continue reporting violations through the FCCPC complaints portal (complaints.fccpc.gov.ng) or via its zonal and state offices nationwide.