The Federal Competition and Consumer Protection Commission reports that the Nigerian banking sector recorded the highest number of consumer complaints between March and August 2025. During this period, the commission received 3,173 complaints against banks, surpassing those lodged against other sectors such as fast‑moving consumer goods, fintech, and electricity. The banking sector’s high complaint rate is significant given its crucial role in the country’s economy.
In total, the commission resolved 9,091 complaints across all sectors during the same timeframe. Other sectors with notable complaint volumes included e‑commerce, telecommunications, and retail/wholesale/shopping. According to commission spokesperson Ondaje Ijagwu, total recoveries for consumers exceeded N10 billion, underscoring the substantial financial impact of these grievances.
Executive Vice Chairman Tunji Bello emphasized that the figures reflect not only the scale of harm experienced by consumers but also the importance of holding institutions accountable. “These numbers are not just statistics; they tell the story of consumer frustration and the daily challenges Nigerians face in essential services,” he said.
The commission remains committed to enforcing the Federal Competition and Consumer Protection Act and promoting fair market practices that safeguard consumer welfare. By resolving a significant number of complaints and securing substantial recoveries, the commission demonstrates its dedication to protecting consumer rights. As Nigeria’s economy continues to evolve, the commission’s role in promoting consumer protection and fair competition will remain essential, highlighting the need for ongoing vigilance and enforcement to ensure businesses prioritize consumer welfare.
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