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Banking, Fintech Top Consumer Laments in NigeriaFCCPC

…Commission secures ₦10bn recovery for customers in five months

The Federal Competition and Consumer Protection Commission (FCCPC) has released fresh data showing that banking and fintech sectors accounted for the highest number of consumer complaints in Nigeria between March and August 2025.

According to the Commission’s report, a total of 9,091 complaints were resolved during the period, with financial recoveries for consumers exceeding ₦10 billion. The complaints spanned 30 sectors, ranging from unfair charges and unauthorised deductions to deceptive marketing and poor service delivery.

Banking topped the list with 3,173 complaints, followed by Fast Moving Consumer Goods (FMCG) with 1,543, fintech with 1,442, and electricity with 458. Other sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport/logistics (114).

The Executive Vice Chairman/CEO of FCCPC, Mr. Tunji Bello, said the figures reflect the daily struggles of Nigerians with essential services.

“These numbers are not just statistics; they tell the story of consumer frustration,” he said. “The FCCPC is determined to hold businesses accountable, ensure compliance with the law, and protect the welfare of all consumers.”

The report highlights banking and fintech as the dominant sectors both in volume and financial exposure, with recurring issues around loan deductions, account charges, and transaction disputes. FCCPC stressed that this underscores the urgent need for stronger collaboration with the Central Bank of Nigeria (CBN) to safeguard consumers.

Electricity-related complaints, ranking fourth, centred on billing disputes and poor service delivery, prompting calls for closer coordination with the Nigerian Electricity Regulatory Commission (NERC) and DisCos.

E-commerce disputes were found to be low in monetary value but high in frequency, involving issues such as refunds, counterfeit goods, and failed deliveries. FCCPC noted this as a growing consumer pain point.

The report also flagged the rising number of disputes linked to digital lending, investment schemes, and microfinance services — coinciding with the Commission’s rollout of new regulations aimed at curbing abuses in the sector.

FCCPC urged businesses to study the data trends and strengthen internal mechanisms for handling complaints, while encouraging consumers to continue reporting violations via its portal (complaints.fccpc.gov.ng) or through its zonal and state offices.

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Airtel Nigeria, Globacom, T2 Mobile and MTN Nigeria Suspend Airtime/Data Loan Services Over New FCCPC Rules

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MTN, Glo, Airtel and T2 Mobile Suspend Airtime/Data Loan Services

Airtel Nigeria, Globacom, T2 Mobile and MTN Nigeria Suspend Airtime/Data Loan Services Over New FCCPC Rules—-Major telecom operators in Nigeria — MTN Nigeria, Airtel Nigeria, Globacom (Glo), and T2 Mobile — have suspended their airtime and data advance services following new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC).

The decision comes as part of efforts to comply with the FCCPC’s Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which impose stricter licensing and compliance conditions on providers of digital credit services.

MTN, Glo, Airtel and T2 Mobile Suspend Airtime/Data Loan Services

MTN, Glo, Airtel and T2 Mobile Suspend Airtime/Data Loan Services

These services, including MTN’s Xtratime and similar offerings from other networks, allow prepaid subscribers to borrow airtime or data and repay on their next recharge.

In separate disclosures, the telecom operators noted that such services now fall under the scope of the new regulations, requiring them to undergo additional approval processes before resuming operations.

The companies stated that the suspension is temporary and aimed at aligning with the updated regulatory framework governing digital lending in Nigeria.

Despite the development, subscribers can still purchase airtime and data through regular channels, while operators assured that the move is not expected to significantly impact their overall earnings.

The FCCPC’s new rules are part of broader efforts to strengthen consumer protection and ensure transparency in Nigeria’s rapidly expanding digital credit ecosystem.

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SC Freiburg Make History with Dominant Win Over Celta Vigo to Reach Europa League Semis

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SC Freiburg Make History with Dominant Win Over Celta Vigo

SC Freiburg Make History with Dominant Win Over Celta Vigo to Reach Europa League Semis—-Freiburg booked a historic place in the UEFA Europa League semi-finals for the first time after a commanding 3-1 win over Celta Vigo, sealing a 6-1 aggregate triumph.

Julian Schuster’s side, who carried a 3-0 advantage from the first leg in Germany, finished the job in style away from home with goals from Igor Matanović and a brace by Yuito Suzuki.

Freiburg effectively ended the contest before half-time, scoring twice in quick succession. Matanović opened the scoring in the 33rd minute with a powerful volley after a clever build-up involving Matthias Ginter and Jordy Makengo.

Suzuki doubled the lead six minutes later, combining neatly with Jan-Niklas Beste before finishing calmly. The Japanese midfielder added his second early in the second half, converting from close range after a flowing team move set up by Vincenzo Grifo.

Celta Vigo managed a late consolation through Williot Swedberg, but it did little to change the outcome as Freiburg cruised through.

Having already broken new ground by reaching the quarter-finals, Freiburg now advance to their first-ever European semi-final, where they will face either Real Betis or Sporting Braga.

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