Connect with us
Air Peace

JUST IN: FG Cautions Air Peace Against Obstruction Of Exploitative Ticket Pricing Investigation

More Videos

Published

on

JUST IN: FG Cautions Air Peace Against Obstruction Of Exploitative Ticket Pricing Investigation—-TCN reports that the Federal Government of Nigeria through the Federal Competition and Consumer Protection Commission has warned Air Peace against obstructing the ongoing inquiry into alleged exploitative ticket pricing and other potential violations of consumers’ rights.

This is according to a statement on Sunday by the Commission’s Director, Corporate Affairs, Ondaje Ijagwu.

The FCCPC’s inquiry into the airline was prompted by a surge of complaints from passengers about unfair pricing, flight cancellations, and other practices potentially harmful to consumers.

The commission conducted a meeting with Air Peace on December 3, 2024, to address the concerns raised in numerous petitions.

The FCCPC said the session, which was held in camera, was intended to protect the confidentiality of the investigation.

However, the commission noted that “shortly after the meeting, leaks surfaced in the media, misrepresenting the proceedings and making unfounded claims.”

Recall that the FCCPC had clarified the situation on December 5, reiterating that its investigation into Air Peace was ongoing.

In the statement, the commission said, “The inquiry is still ongoing, and the public should be wary of manufactured news. The report claiming that Air Peace was not under investigation was not disseminated through our official communication platforms.”

Ijagwu said the leaks quoted Air Peace’s Chairman, Mr Allen Onyema, making various statements, including a boast that he could “shut down the airline” as a favour to the nation, but conveniently omitted other comments that raised concerns.

The FCCPC noted that Onyema’s remarks appeared to be intended to undermine the investigation and distract from the core issues.

The airline had earlier, in a press conference on Friday, asserted that only the aviation regulatory agency had the authority to investigate its affairs, an argument that the FCCPC dismissed as a misunderstanding of both the legal and moral framework surrounding consumer rights.

“The rights of passengers are inalienable and guaranteed under the FCCPA,” the FCCPC countered, emphasising that the Commission has the legal mandate to investigate pricing practices and other consumer-related issues in all sectors, including aviation.

The Commission pointed to Section 17(e) of the FCCPA 2018, which gives it the authority to conduct inquiries when necessary or desirable in connection with any matter falling under its purview.

Further reinforcing its mandate, the FCCPC cited Section 127(1)(a) of the FCCPA, which empowers it to ensure that pricing practices across all sectors, including aviation, are fair and non-exploitative.

The Commission also pointed to Section 148(3)(c) of the Act, which allows it to initiate inquiries based on consumer complaints.

One of the major issues under investigation is Air Peace’s pricing practices.

The FCCPC said the airline had recently proposed fare hikes ranging from N500,000 to N700,000 for a one-hour domestic flight, citing high fuel costs.

However, several consumer complaints contest these figures, claiming that Air Peace’s fuel cost is inflated.

“At the proposed N500,000 fare, a Boeing 737-500 would be fetching a whopping N60 million per one-hour service,” the FCCPC stated.

It contrasted Air Peace’s pricing with a competitor airline that recently reduced its fares to as low as N80,000 for similar domestic routes, demonstrating that affordability and sustainability can coexist in the aviation industry.

Ijagwu said in addition to concerns about pricing, several passengers have complained about arbitrary flight cancellations and poor compensation practices.

FCCPC noted that for instance, on November 29, a group of irate passengers at the Nnamdi Azikwe International Airport staged a protest after experiencing a four-hour delay on the Abuja-Lagos route. The protest led to a security intervention to restore order at the airport.

It added that passengers have also reported that after experiencing flight cancellations or delays, they were forced to pay a 50 per cent surcharge to rebook their tickets on another day.

The FCCPC said despite these efforts to deflect attention from the ongoing inquiry, it remains resolute in its commitment to safeguarding consumer rights.

“No amount of blackmail or cowboy tactics can stop the Commission from the ongoing thorough investigation of the allegations against Air Peace,” the Commission warned.

Reaffirming its role, the FCCPC underscored its responsibility to ensure that all sectors, including aviation, operate in a fair and competitive environment.

“The Commission is committed to safeguarding consumer rights, promoting market fairness, and fostering a competitive and transparent marketplace across all sectors, including aviation,” Ijagwu said.

Facebook 0 Twitter 0 LinkedIn WhatsApp 0Shares
Continue Reading
Click to comment

Leave a ReplyCancel reply

Business

UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments

Published

on

UBA, GTCO Lose ₦2.13 billion To Fraudsters Despite Heavy Cybersecurity Investments—-Three of Nigeria’s largest financial institutions have reported combined fraud-related losses of approximately ₦2.13 billion in their latest audited financial statements, highlighting the growing threat of cybercrime and electronic banking fraud in the country’s financial sector.

The affected institutions include Access Holdings Plc, Guaranty Trust Holding Company Plc, and United Bank for Africa Plc.

According to details contained in the banks’ 2025 financial reports, fraud incidents linked to the three lenders totalled approximately ₦10.29 billion. However, through recoveries, transaction reversals, and security interventions, the banks were able to prevent or recover about ₦8.16 billion, leaving actual losses at approximately ₦2.13 billion.

Among the banks, Access Holdings recorded the highest direct loss to fraudsters, losing an estimated ₦1.24 billion within the financial year.

United Bank for Africa reported over 26,400 fraud-related incidents, with actual losses totalling approximately ₦621.57 million, while Guaranty Trust Holding Company recorded approximately ₦269.44 million in losses tied to fraudulent activities.

Industry analysts say the figures reflect the increasing sophistication of cybercriminals targeting Nigeria’s rapidly expanding digital banking ecosystem.

Most of the fraud cases were reportedly connected to electronic banking channels, including unauthorised transfers, mobile banking compromise, phishing schemes, identity theft, and other forms of digital payment fraud.

The development comes as Nigerian banks continue to accelerate the country’s transition toward a cashless economy through mobile banking platforms, internet banking services, agency banking networks, and digital payment systems.

Despite the losses, the financial institutions significantly increased investments in technology infrastructure and cybersecurity measures during the year under review.

Collectively, the banks reportedly spent over ₦280 billion on technology upgrades, fraud monitoring systems, customer authentication processes, and transaction security enhancements aimed at reducing cyber threats and protecting customer funds.

Meanwhile, the Central Bank of Nigeria has also intensified regulatory efforts to curb financial fraud across the banking industry.

The apex bank recently introduced stricter compliance measures requiring financial institutions to strengthen fraud detection systems, improve transaction monitoring, and respond more rapidly to suspicious activities and customer complaints.

Financial experts have warned that as digital banking adoption continues to rise across Nigeria, banks and customers alike must remain vigilant against increasingly advanced cybercrime tactics targeting the financial sector

Facebook 0 Twitter 0 LinkedIn WhatsApp 0Shares
Continue Reading

News

Custody Death Scandal: LawyerTemokun Drags NDLEA, Demands Immediate Probe

Published

on

Custody Death Scandal: Lawyer Temokun Drags NDLEA, Demands Immediate Probe—-Calls for accountability grow after fresh death mirrors earlier prolonged detention case in Ondo.

Human rights lawyer Temokun has condemned the death of a detainee in the custody of the National Drug Law Enforcement Agency (NDLEA), demanding an immediate and transparent investigation into the circumstances surrounding the incident.

The lawyer described the development as alarming, linking it to a previous case in Ondo State involving prolonged detention without due process. In that earlier incident, Temokun had accused authorities of незакон detention and rights violations, insisting that suspects must be charged to court rather than held indefinitely.

He stressed that repeated allegations of unlawful detention and abuse within custody raise serious concerns about accountability and adherence to the rule of law.

Temokun called on relevant authorities to thoroughly probe the latest death, ensure justice for the victim, and prevent a recurrence of such incidents.

The NDLEA has yet to issue an official response regarding the latest allegations, as pressure mounts from legal and civil society groups for greater oversight of detention practices.

The incident adds to growing scrutiny of law enforcement agencies over the treatment of detainees and respect for fundamental human rights in Nigeria.

Facebook 0 Twitter 0 LinkedIn WhatsApp 0Shares
Continue Reading

Trending

Facebook 0 Twitter 0 LinkedIn WhatsApp 0Shares