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The Federal Competition and Consumer Protection Commission (FCCPC) has disclosed that banking and financial technology services generated the highest number of consumer complaints in Nigeria between March and August 2025.
According to the Commission, more than N10 billion was recovered for aggrieved consumers during the six-month period. This was contained in a statement signed by the Director of Corporate Affairs of the Commission, Mr. Ondaje Ijagwu, on Thursday in Lagos.
The FCCPC said it received complaints across 30 sectors of the economy, with the banking sector topping the list with 3,173 cases. This was followed by fast-moving consumer goods (FMCG), which recorded 1,543 complaints. The fintech sector came third with 1,442 cases, while the electricity sector recorded 458 complaints.
Other areas of concern included e-commerce with 412 complaints, telecommunications with 409, retail and wholesale with 329, aviation with 243, information technology with 131, and road transport and logistics with 114.
The Commission explained that in total, 9,091 consumer complaints were resolved during the period under review, which it said reflected its growing role in protecting consumer rights in the country.
It noted that the grievances reported by consumers ranged from unfair charges, unauthorised deductions, deceptive marketing, poor disclosure of terms, product defects, service failure, and the refusal of companies to provide redress within acceptable timelines.
“The total number of complaints resolved during the reporting period was 9,091, while total recoveries for consumers exceeded N10 billion, reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress,” the Commission said.
The FCCPC added that publishing sector-specific complaint data was in line with its mandate under Sections 17(a) and 17(j) of the FCCPA 2018, which empowers it to enforce consumer protection laws and make information on its operations available to the public.
The report also showed that banking and fintech complaints accounted for the largest financial impact. The cases reported included loan deductions, unfair charges, and transaction disputes. Electricity sector grievances mostly centered on persistent billing disputes and poor service delivery. In e-commerce, most complaints were related to refunds, deliveries, and counterfeit goods.
The Commission further observed that the increase in disputes from digital lending and microfinance companies aligned with its recent regulatory actions aimed at curbing abuses in the digital lending sector.
It assured consumers that it would continue to strengthen monitoring, enforcement, and collaboration with other regulators, particularly in financial services and utilities, where consumer risks remain high.
The FCCPC also encouraged consumers to report cases through its complaints portal, complaints.fccpc.gov.ng, stressing that every complaint helps in identifying systemic issues and ensuring compliance.
Commenting on the findings, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said the numbers highlight the struggles Nigerians face daily in accessing essential services.
“These numbers are not just statistics; they tell the story of consumer frustration and the daily challenges Nigerians face in essential services,” Bello said.
He added that the FCCPC is determined to hold businesses accountable, ensure compliance with the law, and promote fair market practices that protect consumers.
Earlier in the year, the Commission had clarified its role as a regulatory body tasked with overseeing competition and consumer protection across all sectors of the Nigerian economy.
Bello explained that the FCCPC has the power to intervene in any sector where companies fail to deliver services that consumers have paid for, regardless of technical challenges in that sector.
With rising complaints in the financial, technology, and utility sectors, the FCCPC reiterated its commitment to ensure Nigerians get value for their money and protection from unfair practices.
