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October 30, 2024 FCCPC Warns Against Continuous Service Disruptions by Commercial Banks

The Federal Competition and Consumer Protection Commission (FCCPC) has warned financial institutions against continuing disruption in online banking services across Nigeria.

A statement by the commission’s Executive Vice Chairman/ Chief Executive Officer, TUNJI BELLO, said it was deeply concerned by the disruption which has hindered customers from accessing their funds, making payments, and carrying out essential transactions.

According to the commission, service providers are required by the Federal Competition and Consumer Protection Act to be transparent and communicate with customers openly and accurately.

It said during service disruption, it is essential that banks keep their customers fully informed about the causes, scope, and anticipated duration of any service issues.

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