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Posted By Admin On September 12th, 2025

The Federal Competition and Consumer Protection Commission has announced that the Nigerian banking sector led with consumer complaints, as its recoveries exceeded N10 billion between March and August 2025.

The commission disclosed this on Thursday in a statement by its spokesperson, Ondaje Ijagwu.

The commission named the top ten sectors by number of consumer complaints in Nigeria, which include banking sector (3,173 complaints), Fast Moving Consumer Goods (FCMG) (1,543), fintech (1,442), and electricity (458). It said other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport and logistics (114).

According to FCCPC, it resolved a total of 9091 consumer complaints in the period under review.

“While total recoveries for consumers exceeded N10 billion (ten billion naira), reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress,” FCCPC stated.

Commenting on the development, the Executive Vice Chairman of the Commission, Tunji Bello, said the figures were not just statistics but a move to hold institutions dealing directly with consumers accountable.

“These numbers are not just statistics; they tell the story of consumer frustration and the daily challenges Nigerians face in essential services.

“However, the FCCPC is determined to hold businesses accountable, ensure compliance with the FCCPA, and promote fair market practices that protect the welfare of all consumers,” he said.

Source: https://dailypost.ng/2025/09/12/nigerian-banking-sector-leads-as-fccpc-recoveries-from-consumers-complaints-exceed-n10bn/