Nigerians most exploited by telecom, vitality corporations – FCCPC

Power, fintech, and telecommunications firms generate the best variety of shopper complaints in Nigeria, the Federal Competitors and Shopper Safety Fee has declared.

The company’s Govt Vice Chairman, Tunji Bello, made this identified on Thursday whereas briefing State Home correspondents on the Aso Rock Presidential Villa, Abuja. Bello stated the fee had acquired hundreds of complaints from Nigerians throughout these sectors and had recovered over N20bn for customers as of March 2026.

In response to him, the fee resolved greater than 9,000 complaints and recovered over N10bn for customers between March and August 2025 alone.

“Let me inform you the place most complaints come from. Totally on vitality, fintech. For vitality, folks complain in regards to the electrical energy provide, and so forth. That’s the place we get most complaints. And that led to latest motion in Lagos towards a disco. Additionally fintech. You realize, folks do lots of transactions on-line, and most of them are both given unfair phrases.

“Any individual has borrowed cash, and then you definitely uncover that after they ask to pay again, the rate of interest is outrageous. Most of them now we have interrogated, and we’ve been in a position to resolve as many as attainable,” Bello said.

He added that the telecommunications sector and banks additionally account for vital complaints, noting that the fee receives about 25,000 complaints yearly via numerous platforms. Bello stated cumulative recoveries for customers had exceeded N20bn as of March 2026, up from N10bn recorded in October 2025.

The FCCPC boss additionally revealed that the fee had begun monitoring petrol costs and different commodities throughout the nation following the escalating United States-Israeli-Iran battle within the Center East. He stated the company deployed displays nationwide to trace worth actions and stop gas suppliers and petrol stations from exploiting Nigerians.

“We’re presently monitoring the scenario because it impacts costs in Nigeria and numerous costs. As a result of it’s not simply petrol. Petrol has provide results on among the issues we eat or we take each day.

“So we’re monitoring. I’ll nonetheless wish to see it as a brief measure. However you realize, the federal authorities beneath the management of our president has recorded large positive factors within the final two years, and we don’t wish to see this as one thing that can now start to offset that progress,” Bello stated.

He defined that the fee was working with regulators within the petroleum sector to make sure compliance with pricing rules.

“Regardless of the gas suppliers dictate, if the petrol stations are usually not complying, these are the issues we try to watch. If anyone has lowered N100 or N200 from it and you’re nonetheless promoting your individual for N1,500 per litre, we should always be capable to ask you, ‘ Why are you doing that? So these are the issues that our displays are outdoors already monitoring developments,” he said.

Bello additionally disclosed that the fee was collaborating with the Nigerian Upstream Petroleum Regulatory Fee to strengthen compliance oversight.

Within the aviation sector, Bello stated the fee would compel airways that hiked ticket costs in the course of the December 2025 Yuletide interval to refund extra costs to passengers who have been exploited.

He disclosed that investigations into price-fixing allegations involving about 5 – 6 airways had been concluded and that the fee would quickly launch its closing report with penalties.

“We investigated following the complaints that they mounted costs in the course of the Christmas interval. Costs of airline tickets have been round N45,000 to N50,000, and abruptly turned N400,000 to N500,000, from N400,000 to N670,000 in the course of the Christmas interval. So we adopted up via our investigation, and we have been in a position to conclude that it was a type of price-fixing mechanism,” Bello stated.

He added that the preliminary report had already discovered the airways culpable of worth exploitation. “The preliminary report already discovered them wanting in that regard, so the ultimate report goes to be issued very quickly.

“And what we’re additionally contemplating is to have a look at a scenario the place now we have to ask them to refund the surplus to the passengers, which they exploited. So these are some issues we’re contemplating. By the point we give you the ultimate report, you will note that,” he said.

When pressed to call the airways concerned, Bello declined however confirmed that about 5 – 6 carriers have been beneath investigation. “I find out about 5 – 6, however I don’t wish to point out names,” he stated.

The fee’s motion adopted complaints from Nigerians who travelled in the course of the Christmas and New Yr interval and have been pressured to pay exorbitant fares for home flights attributable to excessive demand and restricted seat availability.

Many travellers had taken to social media to protest the sudden spike in ticket costs, describing them as exploitative given the prevailing financial hardship. Bello stated preliminary findings recommended that the airways might need engaged in collective price-fixing, a follow prohibited beneath the Federal Competitors and Shopper Safety Act.

Worth-fixing happens when competing companies comply with set costs at a sure stage relatively than permitting market forces to find out pricing, and it’s thought of anti-competitive behaviour punishable beneath Nigerian legislation. Earlier enforcement actions by the FCCPC have usually centered on fines and penalties payable to the federal government.

In the course of the briefing, the FCCPC additionally addressed issues about electrical energy tariff bands, with officers defending the Band A classification whereas acknowledging that customers are usually not all the time receiving the promised 20 hours of every day energy provide.

The Fee’s Govt Commissioner of Operations, Louis Odion, defined that the fee’s function was not worth management however making certain that customers weren’t exploited via the pricing of services or products.

“We’re not a worth management company, however what we attempt to do is to make sure that customers are usually not exploited, both by the use of the pricing of services or products. Within the electrical energy sector, that’s the place now we have a lot of the challenges that customers take care of on this nation,” he stated.

Odion disclosed that Band A customers, who pay larger tariffs, are entitled to not less than 20 hours of electrical energy provide every day, whereas Band B customers ought to obtain 16 hours. He urged customers to formally complain when they don’t obtain the promised hours of provide, noting that the fee operates an evidence-based system.

“A number of occasions, should you go ask them, they are going to inform you this property is definitely on Band A, however we haven’t acquired any formal grievance from the property as to the truth that that is the variety of hours of electrical energy we’re receiving. Our operational work is evidence-based. If we would not have proof of a specific challenge, we’re not in a position to truly act on it,” he defined.

On prosecution powers, the fee’s Head of Authorized Companies, Chizenum Nsitem, revealed that the FCCPC had prosecuted over 25 instances for the reason that operationalisation of the Federal Competitors and Shopper Safety Act in 2019.

“On the final depend, now we have over 25 instances that now we have been in a position to prosecute, given the infractions of the provisions of the FCCPA. For the concern of being prosecuted, undertakings have complied comparatively with provisions of the FCCPA,” Nsitem stated.

He disclosed that the fee at present has over 30 instances pending on the Federal Excessive Courtroom and the FCCPC Tribunal, together with 5 instances on the Courtroom of Appeal the place undertakings have appealed tribunal selections.

The authorized chief cited Part 20(2) of the FCCPA, which empowers authorized officers to prosecute on behalf of the fee, and Part 113, which permits referral of instances to the Lawyer-Common of the Federation.

The FCCPC was established to guard and promote the pursuits and welfare of customers, be certain that customers’ rights are revered, and supply them with entry to info to make knowledgeable decisions.

Nigeria’s aviation sector has confronted criticism over fluctuating ticket costs, with airways attributing excessive fares to rising aviation gas prices, international change challenges, and operational bills.

On cement costs, Bello stated the fee had arrange an investigative group to probe pricing throughout the federation following complaints from Nigerians.

“We’re already investigating the cement costs throughout the Federation. I don’t wish to preempt that investigation. We now have arrange an investigative group already. They’re going round for the time being. And I’m positive by the point we come out with our full report, it will likely be revealed, and all people will see,” Bello stated.

On telecommunications tariffs, Bello revealed that the FCCPC labored with the Nigerian Communications Fee final 12 months to cut back a proposed 100 per cent tariff enhance by telecom firms to 50 per cent.

“Final 12 months, after they have been going to extend the charges telecoms have been charging, via our MOU with them, they consulted us. The telecom firms have been going to extend by 100 per cent. We persuaded via that negotiation that no, you can’t, due to the inflation price at the moment. We have been in a position to handle them to come back right down to 50 per cent,” Bello stated.