The Federal Competition and Consumer Protection Commission (FCCPC) has recovered over N10 billion for consumers who filed complaints against banks, fintech firms, and other sectors, according to a Thursday statement by Ondaje Ijagwu, FCCPC's Director of Corporate Affairs.
The recoveries stem from 9,091 resolved complaints between March and August 2025, highlighting widespread consumer issues.Banking led with 3,173 complaints, followed by Fast Moving Consumer Goods (1,543), fintech (1,442), and electricity (458).
Other sectors like e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport/logistics (114) also saw significant grievances.
The FCCPC noted that the N10 billion recovered reflects the "scale of harm experienced and the significant financial burden" on consumers, indicating the need for stronger redress mechanisms.
The statement reads in part: “The top ten sectors by number of complaints received between March and August 2025 were led by banking (3,173 complaints), followed by Fast Moving Consumer Goods (FCMG) (1,543), fintech (1,442), and electricity (458). “Other notable sectors included e-commerce (412), telecommunications (409), retail/wholesale/shopping (329), aviation (243), information technology (131), and road transport and logistics (114).
“The total number of complaints resolved during the reporting period was 9091, while total recoveries for consumers exceeded N10 billion (Ten Billion Naira), reflecting both the scale of harm experienced and the significant financial burden borne by consumers in the absence of effective redress.”
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