N10bn recovered for aggrieved consumers in 6 months – FCCPC

By Yinka Kolawole

The Federal Competition and Consumer Protection Commission (FCCPC) said implicit N10 cardinal was recovered for aggrieved consumers successful Nigeria betwixt March and August 2025, adjacent arsenic it  listed the  banking,  Fast Moving Consumer Goods (FCMG), and  fintech  sectors arsenic starring the apical 10 sectors from wherever the committee received the highest fig of user complaints  during the period.

Director, Corporate Affairs, FCCPC, revealed this successful a connection released yesterday connected the  updated information connected user complaints received and resolved crossed cardinal sectors of the Nigerian economy  by the committee wrong the 6 period period.

“The apical 10 sectors by fig of complaints received betwixt March and August 2025 were led by banking (3,173 complaints), followed by FCMG (1,543), fintech (1,442), and energy (458).

“Other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), accusation exertion (131), and roadworthy transport and logistics (114),” the committee stated.

The findings revealed that the banking  sector  is the ascendant root of user complaints, some successful measurement and fiscal exposure, highlighting recurring issues successful indebtedness deductions, relationship charges, and transaction disputes, and reflecting nationalist reliance connected FCCPC to intervene successful systemic fiscal work challenges.

According to  Ijagwu, the  information covers user grievances ranging from unfair charges, work failure, unauthorised deductions, deceptive marketing, mediocre disclosure of terms, merchandise defects, and nonaccomplishment to supply redress wrong acceptable timelines.

“The full fig of complaints resolved during the reporting play was 9091, portion full recoveries for consumers exceeded N10 billion, reflecting some the standard of harm experienced and the important fiscal load borne by consumers successful the lack of effectual redress.

“The work of sector-specific ailment information aligns with the Commission’s mandate nether Sections 17(a), 17(j) of the FCCPA 2018, which empower it to enforce user extortion laws and marque accusation connected its functions disposable to the public,” helium said.

Reacting to the findings, Executive Vice Chairman/Chief Executive Officer of  FCCPC, Mr. Tunji Bello, said: “These numbers are not conscionable statistics; they archer the communicative of user frustration, and the regular challenges Nigerians look successful indispensable services.

“However, FCCPC is determined to clasp businesses accountable, guarantee compliance with the FCCPA, and beforehand just marketplace practices that support the payment of each consumers.”   

The station N10bn recovered for aggrieved consumers successful 6 months – FCCPC appeared archetypal connected Vanguard News.