A Federal High Court in Abuja has affirmed the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer complaints against banks.
Gatekeepers News reports that delivering judgment, Justice James Omotosho held that the commission possesses statutory powers to handle consumer protection issues involving financial institutions.
According to a statement issued by the FCCPC on Wednesday, the court dismissed a suit filed by United Bank for Africa (UBA), marked FHC/ABJ/CS/1972/2025, in its entirety. The court also imposed a ₦2 million fine on the bank, describing the case as “frivolous and unmeritorious.”
UBA had approached the court seeking clarification on whether the FCCPC could exercise jurisdiction over a commercial bank licensed by the Central Bank of Nigeria (CBN), citing provisions of the constitution and the Banks and Other Financial Institutions Act (BOFIA) 2020.
However, Justice Omotosho ruled that the FCCPC’s mandate on consumer protection and competition extends to the banking sector.
“The FCCPC (defendant) is therefore the proper agency to investigate such consumer complaints,” the judge held.
He further stated that no provision in BOFIA or the Central Bank of Nigeria Act grants exclusive authority to the CBN to investigate consumer complaints.
Citing relevant sections of the Federal Competition and Consumer Protection Act (FCCPA) 2018, the court emphasised that the law empowers the commission to enforce consumer protection standards across all sectors.
“Notwithstanding the provisions of any other law but subject to the provisions of the constitution, in all matters relating to competition and consumer protection, the provisions of this Act shall override the provisions of any other law,” the court said, referencing Section 104 of the FCCPA.
‘Big Victory for Bank Customers’
Reacting to the ruling, Tunji Bello, executive vice-chairman and chief executive officer of the FCCPC, described the judgment as a major boost for consumer rights in the financial sector.
“This judgment is a significant milestone in our advocacy for bank customers who have for long endured unfair treatment,” Bello said.
He noted that the decision clarifies the relationship between sector regulators and consumer protection institutions, stressing that consumers are entitled to accessible complaint resolution mechanisms.
Bello added that the ruling strengthens confidence in the regulatory framework governing financial services and reaffirmed the commission’s commitment to engaging banks and other service providers in line with due process.
He also encouraged financial institutions to improve internal complaint resolution systems to address customer concerns promptly.
The development comes days after the FCCPC disclosed that the court had similarly upheld its authority to investigate airlines over consumer complaints.
