MTN Nigeria, Guaranty Trust Bank (GTB) and Air Peace have landed in trouble over complaints by consumers of exploitative practices by the three organizations.
Earlier, The Matrix reported that the Federal Competition and Consumer Protection Commission (FCCPC) has initiated a probe into the complaints by the customers of the three organizations.
Further inquiry has shown that issues relating to poor service delivery, exploitative practices, and possible violations of consumer rights are some of the issues that landed the companies into the black book of the consumer protection agency.
In a statement on Sunday, Ondaje Ijagwu, FCCPC’s director of corporate affairs, announced that the probe is scheduled to commence from December 3 to December 5.
“In the banking sector, the FCCPC will engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications,” Ijagwu said.
“In the telecommunications sector, MTN Nigeria faces questions regarding persistent complaints of undelivered data services, unexplained data depletion, and inadequate customer care.
“Similarly, Air Peace Limited will address allegations of exploitative ticket pricing, including significant price hikes for advance bookings on certain domestic routes.
“These inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, specifically Sections 17, 18, 32, 33, 80, 110, 111, 112, and 113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition.”
The director said the FCCPC’s engagement with the companies provides a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards.
He said the companies will be required to appear before the commission on specified dates to provide information and responses, allowing the commission to make decisions and address outstanding issues efficiently.
According to Ijagwu, the action reflects the FCCPC’s commitment to safeguarding consumer rights, fostering a fair marketplace, and ensuring accountability across all sectors.
He urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.
The Matrix gathered that the 3 companies may be sanctioned heavily if they are found guilty at the end of the probe.
According to FCCPC Administrative Penalties Regulations, 2020, “where the Commission determines subsequent to sub-regulation 2 of regulation 3 that the violation is egregious in nature, it shall seek the maximum allowable penalty, and may in addition, pursue criminal prosecution as appropriate under the Act. 5.
“The imposition of an administrative penalty shall not be restricted to the year in which the investigations were concluded. 6.—(1) In assessing the penalty to be imposed, the Commission may consider any aggravating or mitigating factors”.
Recently, FCCPC slammed a fine of $220m on Meta and WhatsApp for violating data protection and competition laws.
The fine was the result of a 38-month investigation into the conduct of the Meta Parties, which include Facebook and WhatsApp. The fine was due to be paid within 60 days of the
order.
Also, British American Tobacco: British American Tobacco paid a $110 million fine to the FCCPC.
