High Court rules FCCPC can probe customers’ complaints against banks, other financial institutions
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 […]