How banks, fintechs refunded Nigerians ₦10 billion in six months
- FCCPC facilitated refunds of over ₦10 billion ($6.66 million) from banks and fintechs between March and August 2025.
- A total of 9,091 complaints were resolved through the FCCPC's consumer complaints portal during this period.
- Banking sector topped the complaints list with 3,173 cases, followed by fast-moving consumer goods and fintech.
The significant number of complaints and the financial impact on consumers indicate a pressing need for improved regulatory frameworks and consumer protection mechanisms in Nigeria. The FCCPC's efforts to reclaim funds for consumers are commendable, but the underlying issues of service failures and unfair practices must be addressed more proactively by both regulators and service providers.
