A Federal High Court in Abuja has ruled that the Federal Competition and Consumer Protection Commission (FCCPC) has the power to investigate consumers’ complaints against banks and other financial institutions.
The court, presided over by Justice James Omotosho, dismissed a suit filed by United Bank for Africa (UBA) Plc, which had challenged the Commission’s jurisdiction in matters involving a commercial bank licensed by the Central Bank of Nigeria (CBN). UBA’s case, marked FHC/ABJ/CS/1972/2025, was thrown out in its entirety and the bank was fined N2 million for filing what the judge described as a frivolous and unmeritorious action.
FCCPC Executive Vice Chairman/Chief Executive Officer, Tunji Bello, hailed the judgment as “a big victory for bank customers,” saying it strengthens advocacy for consumer rights in the financial sector.
In its statement signed by Corporate Affairs Director Ondaje Ijagwu, the Commission explained that Justice Omotosho affirmed its statutory authority to receive and investigate consumer complaints involving banks and other financial institutions. The court held that, with respect to consumer complaints, no other agency in Nigeria is saddled with that responsibility except the FCCPC.
Justice Omotosho examined Section 251(1)(d) of the 1999 Constitution (as amended) and Section 65(1)(a) of the Banks and Other Financial Institutions Act (BOFIA) 2020, which UBA relied on, but still upheld FCCPC’s powers in competition and consumer protection matters in the financial sector.
He cited Sections 1, 2, 17(e) and 104 of the Federal Competition and Consumer Protection Act 2018, noting that Section 104 expressly states that in all matters relating to competition and consumer protection, the FCCPA overrides any other law, subject only to the Constitution.
Bello said the verdict provides clear judicial guidance on how sector‑specific regulation works alongside the national consumer protection framework, and reinforces the right of consumers in every sector, including banking, to accessible complaint and redress channels.
He added that the ruling is also important for businesses, as it clarifies that regulatory accountability and consumer confidence go hand in hand in building a healthy market. The FCCPC pledged to continue engaging banks and other service providers professionally and fairly, while encouraging them to strengthen internal complaint resolution mechanisms.
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