By Ismaeel Aleem
The Federal Competition and Consumer Protection Commission (FCCPC) has recovered over N10 billion for consumers who lodged complaints against banks, fintech companies, and other sectors.
This was disclosed in q statement released on Thursday by Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs.
The recoveries follow a review of consumer complaints resolved between March and August 2025 across key sectors of Nigeria’s economy.
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The FCCPC reported that 9,091 complaints were resolved during the period, with the banking sector leading with 3,173 complaints, followed by Fast Moving Consumer Goods (FMCG) with 1,543, fintech with 1,442, and electricity with 458.
Other significant sectors included e-commerce (412 complaints), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport and logistics (114).
“The total recoveries for consumers exceeded N10 billion, reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress,” the FCCPC statement read.
The commission’s efforts underscore its commitment to protecting consumer rights and ensuring accountability in key industries.
The banking sector’s high complaint volume points to ongoing challenges in financial services, while the fintech industry’s significant share reflects its growing prominence and associated consumer grievances.
Issues in the electricity sector, a persistent concern for Nigerians, also featured prominently, alongside e-commerce and telecommunications, which are vital to the country’s digital economy.
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The FCCPC’s success in resolving thousands of complaints and securing substantial recoveries demonstrates its proactive approach to consumer protection.
The commission continues to urge consumers to report grievances, emphasising the importance of robust regulatory oversight to address unfair practices.
