Nigerians File Thousands of Complaints Against Energy, Fintech Firms — FCCPC

Nigeria’s consumer protection regulator has identified the energy and financial technology sectors as the biggest sources of consumer complaints in the country, highlighting growing concerns about service delivery, pricing practices and consumer rights.

The Executive Vice Chairman of the Federal Competition and Consumer Protection Commission (FCCPC), Tunji Bello, disclosed this on Thursday while briefing journalists at the State House in Abuja. According to him, complaints relating to electricity supply, fintech services, telecommunications and banking dominate the cases brought before the commission each year.

Bello said the commission has recovered more than ₦20 billion for consumers as of March 2026 after resolving thousands of disputes between companies and customers across different sectors of the economy.

He noted that between March and August 2025 alone, the commission resolved over 9,000 complaints and secured more than ₦10 billion in refunds or compensation for affected consumers.

According to him, electricity-related complaints remain particularly widespread, with many Nigerians reporting poor service delivery despite high tariffs. In the fintech sector, Bello said borrowers and online users frequently complain about unfair lending terms and excessive interest charges imposed by digital lending platforms.

Nigeria’s rapid growth in financial technology services has expanded access to digital payments and quick loans, but it has also generated concerns about consumer protection, data privacy and exploitative lending practices.

Bello also revealed that the commission has begun monitoring petrol prices and other essential commodities nationwide following tensions in the Middle East involving the United States, Israel and Iran, which could affect global oil supply and trigger price increases.

He said the commission has deployed monitoring teams across the country to prevent petrol stations and suppliers from exploiting consumers through unjustified price hikes.

The FCCPC is collaborating with the Nigerian Upstream Petroleum Regulatory Commission and other regulators to ensure compliance with pricing regulations and maintain market stability.

Meanwhile, the agency is concluding investigations into alleged price-fixing among several domestic airlines during the December 2025 festive period. Preliminary findings, Bello said, suggest that five or six airlines may have colluded to inflate ticket prices from about ₦45,000 to as high as ₦670,000.

If confirmed, the commission may require the airlines to refund excess charges to passengers.

Established under the Federal Competition and Consumer Protection Act, the FCCPC is responsible for protecting consumer rights, promoting fair competition and investigating anti-competitive practices across Nigeria’s economy.