The Federal Competition and Consumer Protection Commission (FCCPC) says it has recovered N10 billion for consumers after complaints against banks, fintechs, and others.
The Commission disclosed this in a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu, on Thursday, citing updated complaint data.
According to the FCCPC, the recoveries were based on complaints lodged between March and August 2025 across multiple sectors of the Nigerian economy. The top sectors included banking with 3,173 complaints, fast-moving consumer goods with 1,543, fintech with 1,442, and electricity with 458.
Other sectors were e-commerce (412 complaints), telecommunications (409), retail and wholesale (329), aviation (243), information technology (131), and road transport and logistics (114). The Commission said grievances ranged from unfair charges to unauthorised deductions and deceptive marketing practices.
“The total number of complaints resolved during the reporting period was 9,091, while total recoveries for consumers exceeded N10 billion,” the FCCPC said. The Commission added that the figures reflected the extent of consumer harm and the burden faced before redress.
FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the statistics represent the realities of Nigerian consumers. “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 FCCPA, and promote fair market practices that protect the welfare of all consumers,” Bello stated.
The publication of sector-specific complaint data aligns with Sections 17(a) and 17(j) of the Federal Competition and Consumer Protection Act 2018, empowering the Commission to enforce laws and share information. Banking and fintech were identified as the sectors with the highest financial impact, requiring closer coordination with the Central Bank of Nigeria.
The report also highlighted recurring issues in electricity billing, aviation services, and e-commerce disputes, noting the need for joint regulatory efforts across sectors. The FCCPC said it will intensify monitoring and enforcement while urging companies to strengthen internal complaint resolution mechanisms.
Consumers were encouraged to continue submitting complaints through the FCCPC’s online portal or its state offices. The Commission maintained that its interventions remain crucial for protecting rights in Nigeria’s consumer markets, okay.ng reports.
