FG Opens Probe Into Allegations Against Gtbank, MTN And Air Peace

The Federal Competition and Consumer Protection Commission (FCCPC) has announced a comprehensive inquiry into consumer complaints targeting key players in the banking, telecommunications, and aviation sectors. The inquiry, scheduled to commence on December 3, 2024, will focus on addressing allegations of poor service delivery, exploitative practices, and potential violations of consumer rights.

Entities Under Investigation

The entities named in the FCCPC inquiry include Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited, with the investigations rooted in the Federal Competition and Consumer Protection Act (FCCPA) of 2018.

The commission’s Director of Corporate Affairs, Ondaje Ijagwu, detailed the scope of the investigations:

1. Guaranty Trust Bank (GTB):
The FCCPC will examine widespread complaints about network failures that prevent customers from accessing funds or using banking applications.

2. MTN Nigeria:
Persistent issues such as unexplained data depletion, undelivered data services, and subpar customer support have prompted the inquiry into the telecom giant.

3. Air Peace Limited:
The commission will address allegations of exploitative ticket pricing, including significant fare increases for advance bookings on domestic routes.

Legal Basis and Objectives

The inquiry, conducted under Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113 of the FCCPA, aims to investigate practices that disrupt markets, undermine consumer rights, or foster unfair competition.

“This action reflects the Commission’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors,” said Ijagwu.

Engagement and Resolution

The FCCPC emphasized that its engagement with the named companies will provide an opportunity to:

– Address consumer concerns directly,
– Clarify business practices, and
– Enforce compliance with regulatory standards.

Each company has been directed to appear before the commission on designated dates to respond to inquiries and provide information critical to resolving the issues.

A Call for Consumer Participation

The FCCPC urged consumers to continue reporting instances of poor service delivery or exploitative practices through its official channels, reaffirming its role as a champion for fair practices and accountability in Nigeria’s marketplace.

This inquiry underscores the commission’s determination to protect consumers while ensuring that businesses adhere to ethical and competitive standards.