FG sends strong warnings to Banks Against Disruption Of Services, Poor Service Delivery To Citizens
This is even as the commission warned the banks to desist from such act and not to violate consumers’ right.
Amid complaints of service disruptions made against banks by Nigerians, the Federal Competition and Consumer Protection Commission (FCCPC) has expressed deep concerns.
This is even as the commission warned the banks to desist from such act and not to violate consumers’ right.
This was commmunicated in a statement signed by its executive vice chairman/chief executive officer, Tunji Bello.
“Federal Competition and Consumer Protection Commission (FCCPC) is deeply concerned about the continuing disruptions in online banking services across Nigeria.
“These disruptions, which have hindered customers from accessing their funds, making payments, and carrying out essential transactions, have negatively impacted millions and have serious implications for individuals and businesses alike.”
The commission had reminded banks of the rights of customers to efficient service delivery.
“Under the Federal Competition and Consumer Protection Act (FCCPA) 2018, bank customers have specific rights to guarantee fair and accountable service delivery. A key provision is the right to quality service, which mandates that all service providers, including banks, maintain acceptable levels of functionality and reliability.”
“When banks cannot maintain access to essential financial services, they are arguably failing to meet this standard, potentially leading to significant financial hardship, loss of trust in the banking system, and damage to the overall economy.”
“The FCCPA further grants consumers the right to reasonable access to goods and services—a principle that is compromised when technical failures impede customers’ access to their own funds.”
The statement argued that it amounts to violation of rights if customers cannot access banking services.
“At a time when Nigeria’s economy is increasingly cashless, online banking is no longer a mere convenience but a necessity. Interruptions that impede consumers from engaging in transactions or accessing essential funds are not only an inconvenience, but they may also be a violation of this right.”
Bank customers were also informed that they could seek redress in the face of poor services by banks.
“The FCCPA allows consumers to seek redress for services that do not meet the necessary standards. As such, bank customers can seek redress, if they are adversely affected by substandard services. The FCCPC is currently reviewing the situation to determine if consumers’ rights to redress are being upheld and if more action is needed to enforce accountability.”
“The FCCPC is actively working with relevant regulatory authorities, financial institutions, and stakeholders to address these disruptions and ensure the protection of customers. The Commission will pursue all necessary actions to ensure the protections of the FCCPA are upheld.” the statement read
Some of the banks tagged in the report included; Zenith Bank, Guaranty Trust Bank, First Bank, United Bank for Africa, and Access Bank.
Release: Service disruption: FCCPC warns banks against violation of customers’ right
The Federal Competition and Consumer Protection Commission (FCCPC) is deeply concerned about the continuing disruptions in online banking services across Nigeria. These disruptions, which have… pic.twitter.com/hb3TGZGArM
— FCCPC Nigeria (@fccpcnigeria) October 29, 2024
