Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Hospitalised Corps Member Thanks NYSC DG For Visit, Hospital Mgt For Effective Service Delivery
    • SGF Condoles With Boss Mustapha, Adamawa State Over Charity Mustapha’s Death
    • Court Jails Two Internet Fraudsters In Kaduna
    • Nigeria Police Reactivates Digital Tinted Glass Permit System
    • Court Orders EFCC To Release Aisha Achimugu On Your Bail
    • EFCC Charges Banks On Improved KYC, Enhanced Collaboration
    • FMITI, NGX Group In Strategic Partnership To Achieve $6 Billion Investment Target
    • EFCC Quizzes Suspected “Yahoo” School Operators, Students
    Facebook X (Twitter) Instagram YouTube
    HumsimediaHumsimedia
    • Home
    • News
      • News Analysis
      • Politics
      • Environment
      • Energy
      • Security
      • Defence
    • Entertainment
    • Business
      • Economy
    • Health
    • Interview
    • Lifestyle
    • Global News
    HumsimediaHumsimedia
    Home»Economy»Business»Service Disruption: FCCPC Warns Banks Against Violation Of Customers’ Right
    Business

    Service Disruption: FCCPC Warns Banks Against Violation Of Customers’ Right

    HumsiBy HumsiOctober 29, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Pursuant to Sections 17(j), (l) (s), 116 (2), 124, 125, 138 and 155 of the Federal
    Competition and Consumer Protection Act (FCCPA) 2018

    The Federal Competition and Consumer Protection Commission (FCCPC) is deeply concerned about the continuing disruptions in online banking services across Nigeria.

    These disruptions, which have hindered customers from accessing their funds, making payments, and carrying out essential transactions, have negatively impacted millions and have serious implications for individuals and businesses alike.

    Under the Federal Competition and Consumer Protection Act (FCCPA) 2018, bank customers have specific rights to guaranteed 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 FCCPA further grants consumers the right to reasonable access to goods and services—a principle that is compromised when technical failures impede customers’ access to their own funds.

    At a time when Nigeria’s economy is increasingly cashless, online banking is no longer a mere convenience but a necessity. 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.

    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 allows consumers to seek redress for services that do not meet the necessary standards. As such, bank customers can seek redress, if they are adversely affected by substandard services. The FCCPC is currently reviewing the situation to determine if consumers’ rights to redress are being upheld and if more action is needed to enforce accountability.

    The FCCPC is actively working with relevant regulatory authorities, financial institutions, and stakeholders to address these disruptions and ensure the protection of customers. The Commission will pursue all necessary actions to ensure the protections of the FCCPA are upheld.

    The Commission assures affected bank customers that their concerns are being taken seriously. We urge banks and financial institutions to take swift action to restore services, prioritise customer support, and enhance communication to manage customer expectations transparently and responsibly.
    Consumers have the option to reach out to the FCCPC through the following channels to report complaints:

    Website: www.fccpc.gov.ng

    Email: [email protected]

    We are committed to safeguarding the rights of Nigerian consumers and making certain that every service provider adheres to the statutory mandates provided in the FCCPA 2018. We thank the public for their patience and understanding as we work to end this hardship.

    Mr. Tunji Bello
    Executive Vice Chairman/ Chief Executive Officer

    Banks Customers FCCPC Mr Tunji Bello
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Humsi
    • Website

    Related Posts

    Save the Consumers Condemns MultiChoice’s Discriminatory Pricing Between Nigerian, South African Subscribers

    March 23, 2025

    FCCPC Files Charges Against MultiChoice For Violations, Aims To Protect Consumers

    March 5, 2025

    FCCPC Directs MultiChoice To Maintain Current Prices Pending Investigation

    February 28, 2025
    Leave A Reply Cancel Reply

    Recent Posts
    • Hospitalised Corps Member Thanks NYSC DG For Visit, Hospital Mgt For Effective Service Delivery
    • SGF Condoles With Boss Mustapha, Adamawa State Over Charity Mustapha’s Death
    • Court Jails Two Internet Fraudsters In Kaduna
    • Nigeria Police Reactivates Digital Tinted Glass Permit System
    • Court Orders EFCC To Release Aisha Achimugu On Your Bail
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Humsimedia. Designed by Humsi Media.

    Type above and press Enter to search. Press Esc to cancel.

    • communication-technology-like-telegraph-affect
    • simply-part-order-nature-land-poor-cannot-afford-adecent
    • directly-stated-orderit-assumed-individuals-roosevelts
    • anthony-writing-research-paper-healthy-eating-one-entry
    • freedom-expression-including-freedom-religion-freedom
    • requiring-uniforms-good-way-foster-equalityamong
    • look-frames-one-war-ends-another-beginswhich-best
    • following-student-association-help-build-leadership
    • many-americans-favor-football-baseball-basketball
    • read-sentenceafter-first-interview-reporter-realized
    • excerpt-lather-nothing-best-example-fastpaced
    • statement-correct-datinga-people-change-personality
    • process-directly-describes-growth-cities
    • early-years-world-war-iwhich-following-germans-use-great
    • aarush-switched-jobs-large-firm-mediumsized-firm-one
    • read-excerpt-act-iii-importance-ofbeing-earnestjack-dear
    • advancements-made-shang-zhou-dynasties-improve-life
    • plant-canproduce-purple-flowers-white-flowers-purple
    • 2900-dollars-placed-account-annual-interestrate-9-much
    • two-three-sentences-describe-one-theprinciples