The Executive Vice Chairman of Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC), Mr. Tunji Bello, says that energy, fintech, and telecommunications companies generate the highest number of consumer complaints in Nigeria.
Briefing State House correspondents at the Aso Rock Presidential Villa, Abuja. Bello said that the commission had received thousands of complaints from Nigerians across these sectors and had recovered over N20bn for consumers as of March 2026.
According to him, the commission resolved over 9,000 complaints and recovered over N10bn for consumers between March and August 2025 alone.
“Let me tell you where most complaints come from. Mostly on energy, fintech. For energy, people complain about the electricity supply, and so on. That’s where we get most complaints. And that led to recent action in Lagos against a disco. Also fintech. You know, people do a lot of transactions online, and most of them are either given unfair terms.
“Somebody has borrowed money, and then you discover that when they ask to pay back, the interest rate is outrageous. Most of them we have interrogated, and we’ve been able to resolve as many as possible,” Bello stated.
He added that the telecommunications sector and banks also account for significant complaints, noting that the commission receives about 25,000 complaints annually through various platforms. Bello said cumulative recoveries for consumers had exceeded N20bn as of March 2026, up from N10bn recorded in October 2025.
The FCCPC boss also disclosed that the commission had begun monitoring petrol prices and other commodities across the country following the escalating United States-Israeli-Iran conflict in the Middle East.
He said that the agency deployed monitors nationwide to track price movements and prevent fuel suppliers and petrol stations from exploiting Nigerians.
“We are presently monitoring the situation as it affects prices in Nigeria and various prices. Because it’s not just petrol. Petrol has supply effects on some of the things we eat or we take on a daily basis.
“So we are monitoring. I will still want to see it as a temporary measure. But you know, the federal government under the leadership of our president has recorded massive gains in the last two years, and we don’t want to see this as something that will now begin to offset that progress,” Bello said.
He explained that the commission was working with regulators in the petroleum sector to ensure compliance with pricing regulations.
“Whatever the fuel suppliers dictate, if the petrol stations are not complying, those are the things we are trying to monitor. If somebody has reduced N100 or N200 from it and you are still selling your own for N1,500 per litre, we should be able to ask you, ‘ Why are you doing that? So those are the things that our monitors are outside already monitoring developments,” he stated.
Bello also disclosed that the commission was collaborating with the Nigerian Upstream Petroleum Regulatory Commission to strengthen compliance oversight.
In the aviation sector, Bello said the commission would compel airlines that hiked ticket prices during the December 2025 Yuletide period to refund excess charges to passengers who were exploited.
He disclosed that investigations into price-fixing allegations involving about five or six airlines had been concluded and that the commission would soon release its final report with penalties.
GIK/APA