The Federal Competition and Consumer Protection Commission (FCCPC) report yesterday shows that Banking and FinTech are leading in updated data on consumer complaints received and resolved across key sectors of the Nigerian economy.
The report shows that the total number of complaints resolved during the reporting period was 9091, while total recoveries for consumers exceeded ₦10 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.
It said, “” The top ten sectors by number of complaints received between March and August 2025 were led by banking (3,173 complaints), followed by Fast Moving Consumer Goods (FCMG) (1,543), fintech (1,442), and electricity (458). Other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport and logistics (114).”
A statement from the FCCPC stressed that the data covering cases lodged with the commission between March and August 2025, compiled from the commission’ s complaints resolutions platforms, provide insights into the pattern and prevalence of consumer dissatisfaction across 30 sectors
These data cover consumer grievances, ranging from unfair charges, service failure, unauthorised deductions, deceptive marketing, poor disclosure of terms, product defects, and failure to provide redress within acceptable timelines.
Accordingly, the publication of sector-specific complaint data aligns with the Commission’s mandate under Sections 17(a), 17(j) of the FCCPA 2018, which empower it to enforce consumer protection laws and make information on its functions available to the public.
Reacting to the findings yesterday in Abuja, the Executive Vice Chairman/Chief Executive Officer of the Commission, Tunji Bello, explained that the numbers are not just statistics; they tell the story of consumer frustration, and the daily challenges Nigerians face in essential services, adding that 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, banking is the dominant source of consumer complaints, both in volume and financial exposure, highlighting recurring issues in loan deductions, account charges, and transaction disputes, and reflecting public reliance on the FCCPC to intervene in systemic financial service challenges.
“Banking and fintech dominate by financial impact, showing consumer vulnerability where services are both essential and high value, signalling an urgent need for stronger joint regulation with the Central Bank of Nigeria (CBN).
“With 458 reported complaints, the electricity sector ranks 4th overall, behind banking, financial services, and FCMG, highlighting persistent billing disputes, service delivery failures, and the need for stronger coordination between the FCCPC, NERC, state electricity regulatory agencies and electricity distribution companies (DisCos).
According to him, E-commerce disputes are relatively low-value but high-frequency, signalling broad consumer exposure at the retail level. While average monetary losses per complaint are low, the volume and recurrence of disputes (deliveries, refunds, counterfeit goods) reveal e-commerce as a growing consumer pain point.
He noted: “Consumers are encouraged to continue reporting violations through the FCCPC complaint portal: complaints.fccpc,gov.ng, or FCCPC zonal and state offices. Every report assists the Commission in identifying systemic issues and enforcing compliance”
