Nigeria: FCCPC Investigates Banks for Violations of Customers’ Rights Amid Service Disruptions

The Federal Competition and Consumer Protection Commission (FCCPC) has raised concerns over recent disruptions in banking services that have left customers unable to access their funds, viewing it as a violation of customer rights. In a statement issued by FCCPC’s Executive Vice Chairman and CEO, Mr. Tunji Bello, the commission acknowledged the impact of these disruptions on consumers and businesses.

“The FCCPC is deeply troubled by the persistent interruptions in online banking services across Nigeria,” the statement noted. “These recurring disruptions prevent customers from accessing their funds, making payments, and conducting essential transactions, which affects millions and has serious economic consequences.”

Under the Federal Competition and Consumer Protection Act (FCCPA) of 2018, bank customers have specific rights, including the right to reliable service. According to the FCCPC, this right mandates that service providers, including banks, maintain a certain standard of functionality and reliability. Prolonged disruptions that block access to funds can lead to significant financial hardship, erode public trust in banking institutions, and damage the overall economy.

The FCCPA also grants consumers reasonable access to services, which is compromised when technical failures prevent customers from accessing their own funds. “With Nigeria’s shift toward a cashless economy, online banking is essential, not optional. Interruptions that prevent consumers from accessing funds or completing transactions may violate their rights under the FCCPA,” the statement continued.

The FCCPC highlighted that service providers must communicate transparently and accurately during disruptions. “It is crucial for banks to keep customers informed about the causes, scope, and expected duration of service issues. Unfortunately, many consumers are left uninformed, which only adds to their frustration.”

Consumers affected by substandard service have the right to seek redress under the FCCPA. The FCCPC is currently assessing whether consumer rights to redress are being upheld and may take additional action if necessary to ensure accountability. The Commission is actively collaborating with regulatory authorities, financial institutions, and other stakeholders to address these issues and reinforce customer protections.

The FCCPC reassured affected customers that their concerns are being taken seriously and called on banks to prioritize service restoration, enhance customer support, and improve communication during disruptions. Customers may report complaints to the FCCPC via its official website (http://fccpc.gov.ng) or by email at contact@fccpc.gov.ng.