The Federal Competition and Consumer Protection Commission (FCCPC) is launching an investigation into major companies in Nigeria, including Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited, due to numerous consumer complaints. This investigation will begin on December 3, 2024, and will address issues related to poor services and unfair business practices.

Companies Under Investigation

1. Guaranty Trust Bank (GTB): GTB is being investigated for reports of network failures that prevent customers from accessing their funds or using the bank’s online services and apps.
2. MTN Nigeria: MTN faces scrutiny for problems like disappearing data, services not being delivered, and poor customer support.
3. Air Peace Limited: The airline is under investigation for complaints about high ticket prices, particularly on domestic routes when booked in advance.

The inquiry is being carried out under the Federal Competition and Consumer Protection Act (FCCPA) of 2018. This law allows the FCCPC to investigate businesses that negatively impact consumers, hinder competition, or violate consumer rights.

The FCCPC’s investigation aims to ensure businesses follow the rules and treat consumers fairly. The commission will meet with the involved companies to address consumer concerns, clarify business practices, and ensure compliance with relevant regulations.

Consumers are encouraged to report any issues they face with these companies, as the FCCPC works to protect consumer rights and promote fairness in Nigeria’s marketplace. The commission’s effort reflects its ongoing commitment to ensuring businesses act responsibly and ethically.