FCCPC Warns Banks Against Violating Customers’ Rights Amid Service Disruptions

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed serious concerns over ongoing disruptions in online banking services across Nigeria, which have impacted millions of customers. In a statement released by the Executive Vice Chairman/Chief Executive Officer of the FCCPC, Tunji Bello on Tuesday, the commission stated that banks must “maintain acceptable levels of functionality and reliability,” adding that these disruptions are preventing access to funds, payments, and essential transactions, and have had severe effects on individuals and businesses nationwide.

The statement said, “Under the Federal Competition and Consumer Protection Act (FCCPA) 2018, bank customers have specific rights to guarantee fair and accountable service delivery. A key provision is the right to quality service, which mandates that all service providers, including banks, maintain acceptable levels of functionality and reliability. When banks cannot maintain access to essential financial services, they are arguably failing to meet this standard, potentially leading to significant financial hardship, loss of trust in the banking system, and damage to the overall economy.”

The statement further noted that in a largely cashless Nigerian economy, online banking is essential, and disruptions that prevent customers from accessing their funds or conducting transactions go beyond inconvenience; they infringe on customers’ right to reasonable access to services. “Interruptions that impede consumers from engaging in transactions or accessing essential funds are not only an inconvenience, but they may also be a violation of this right,” it stated.

The FCCPA also mandates that banks remain transparent, providing customers with clear, accurate information during any disruptions. Unfortunately, many consumers report insufficient communication from banks, fueling frustration and leaving them feeling unsupported.

The commission said, “Service providers are required by the FCCPA to be transparent and communicate with customers in an open and accurate manner. During service disruption, it is essential that banks keep their customers fully informed about the causes, scope, and anticipated duration of any service issues. Regrettably, many consumers are left in the dark, a situation that increases frustration and leaves customers feeling unsupported.”

The FCCPA grants consumers the right to seek redress for substandard services. In line with this, the FCCPC is evaluating whether consumers’ rights to redress are being protected and if additional enforcement measures are required.

The Commission is therefore coordinating with regulatory authorities, financial institutions, and stakeholders to address these disruptions and safeguard consumer rights, urging banks to act swiftly in restoring services, prioritising customer support, and communicating openly about any issues to manage customer expectations responsibly.

Affected customers can reach the FCCPC to report complaints via:
Website: www.fccpc.gov.ng
Email: contact@fccpc.gov.ng

Bello also reaffirmed the Commission’s commitment to upholding consumer rights and ensuring that service providers comply with FCCPA standards. The commission also extends its appreciation to the public for their patience as they work toward a resolution.

Melissa Enoch

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