Banking, fintech top consumer complaints in Nigeria — FCCPC

…Commission secures ₦10bn betterment for customers successful 5 months

The Federal Competition and Consumer Protection Commission (FCCPC) has released caller information showing that banking and fintech sectors accounted for the highest fig of user complaints successful Nigeria betwixt March and August 2025.

According to the Commission’s report, a full of 9,091 complaints were resolved during the period, with fiscal recoveries for consumers exceeding ₦10 billion. The complaints spanned 30 sectors, ranging from unfair charges and unauthorised deductions to deceptive selling and mediocre work delivery.

Banking topped the database with 3,173 complaints, followed by Fast Moving Consumer Goods (FMCG) with 1,543, fintech with 1,442, and energy with 458. Other sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), accusation exertion (131), and roadworthy transport/logistics (114).

The Executive Vice Chairman/CEO of FCCPC, Mr. Tunji Bello, said the figures bespeak the regular struggles of Nigerians with indispensable services.

“These numbers are not conscionable statistics; they archer the communicative of user frustration,” helium said. “The FCCPC is determined to clasp businesses accountable, guarantee compliance with the law, and support the payment of each consumers.”

The study highlights banking and fintech arsenic the ascendant sectors some successful measurement and fiscal exposure, with recurring issues astir indebtedness deductions, relationship charges, and transaction disputes. FCCPC stressed that this underscores the urgent request for stronger collaboration with the Central Bank of Nigeria (CBN) to safeguard consumers.

Electricity-related complaints, ranking fourth, centred connected billing disputes and mediocre work delivery, prompting calls for person coordination with the Nigerian Electricity Regulatory Commission (NERC) and DisCos.

E-commerce disputes were recovered to beryllium debased successful monetary worth but precocious successful frequency, involving issues specified arsenic refunds, counterfeit goods, and failed deliveries. FCCPC noted this arsenic a increasing user symptom point.

The study besides flagged the rising fig of disputes linked to integer lending, concern schemes, and microfinance services — coinciding with the Commission’s rollout of caller regulations aimed astatine curbing abuses successful the sector.

FCCPC urged businesses to survey the information trends and fortify interior mechanisms for handling complaints, portion encouraging consumers to proceed reporting violations via its portal (complaints.fccpc.gov.ng) oregon done its zonal and authorities offices.

The station Banking, fintech apical user complaints successful Nigeria — FCCPC appeared archetypal connected Vanguard News.