FCCPC warns Nigerian banks against incessant service disruption

The Federal Competition and Consumer Protection Commission (FCCPC) has warned Nigerian banks against incessant online service disruption.

Tunji Bello, the Executive Vice Chairman/Chief Executive Officer of the Commission, issued the warning in a statement on Tuesday.

The warning comes amid increased cases of online service disruption across Nigerian banks nationwide.

Reacting to the development, FCCPC noted that its Establishment Act stipulates that bank customers guarantee fair and accountable service delivery.

The Commission vowed to pursue all necessary action to ensure the protection of customers.

“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 Commission assures affected bank customers that their concerns are being taken seriously.

“We urge banks and financial institutions to take swift action to restore services, prioritise customer support, and enhance communication to manage customer expectations transparently and responsibly,” FCCPC stated.

In the last few weeks, leading Nigerian banks announced system upgrades at separate times, which led to service disruptions.