…Commission secures ₦10bn recovery for customers in five months
The Federal Competition and Consumer Protection Commission (FCCPC) has released fresh data showing that banking and fintech sectors accounted for the highest number of consumer complaints in Nigeria between March and August 2025.
According to the Commission’s report, a total of 9,091 complaints were resolved during the period, with financial recoveries for consumers exceeding ₦10 billion. The complaints spanned 30 sectors, ranging from unfair charges and unauthorised deductions to deceptive marketing and poor service delivery.
Banking topped the list with 3,173 complaints, followed by Fast Moving Consumer Goods (FMCG) with 1,543, fintech with 1,442, and electricity with 458. Other sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport/logistics (114).
The Executive Vice Chairman/CEO of FCCPC, Mr. Tunji Bello, said the figures reflect the daily struggles of Nigerians with essential services.
“These numbers are not just statistics; they tell the story of consumer frustration,” he said. “The FCCPC is determined to hold businesses accountable, ensure compliance with the law, and protect the welfare of all consumers.”
The report highlights banking and fintech as the dominant sectors both in volume and financial exposure, with recurring issues around loan deductions, account charges, and transaction disputes. FCCPC stressed that this underscores the urgent need for stronger collaboration with the Central Bank of Nigeria (CBN) to safeguard consumers.
Electricity-related complaints, ranking fourth, centred on billing disputes and poor service delivery, prompting calls for closer coordination with the Nigerian Electricity Regulatory Commission (NERC) and DisCos.
E-commerce disputes were found to be low in monetary value but high in frequency, involving issues such as refunds, counterfeit goods, and failed deliveries. FCCPC noted this as a growing consumer pain point.
The report also flagged the rising number of disputes linked to digital lending, investment schemes, and microfinance services — coinciding with the Commission’s rollout of new regulations aimed at curbing abuses in the sector.
FCCPC urged businesses to study the data trends and strengthen internal mechanisms for handling complaints, while encouraging consumers to continue reporting violations via its portal (complaints.fccpc.gov.ng) or through its zonal and state offices.
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