FCCPC to investigate GTBank, MTN over widespread complaint of poor service delivery

Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has announced a major investigation into what it described as widespread consumer complaints against leading commercial bank, Guaranty Trust Bank (GTBank) and leading telecommunications company, MTN. The commission disclosed this in a statement signed by its director of corporate affairs, Ondaje Ijagwu. According to the statement, the FCCPC said the probe is intended to address issues of poor service delivery, exploitative practices and potential consumer rights violations by the companies.

The probe will take place between December 3 to December 5. “ The companies will be required to appear before the Commission on designated days to provide information and responses to enable the Commission to make determinations and resolve pending issues promptly ,” the FCCPC’s statement reads. The commission also said the investigations reflect its commitment to safeguarding consumer rights, fostering a fair marketplace and ensuring accountability across all sectors.



It has been a torrid time for customers of both GTBank and MTN who have had to endure unending cycles of service failures. For GTBank, the problem began with the upgrade of its core banking application to Finacle. This new core app was expected to be more robust than the previous platform, offering improved efficiency and customer satisfaction.

But alas, since the migration, customers have had to confront one issue after the next, dealing with every kind of transaction problem. There were cases of missing funds and service disruptions while several customers have come forward alleging discrepancies in their account balances. A customer, Aisha Hamman, raised concerns on X about irregular transactions on her account stating: “ We’re seeing strange activity—accounts getting credited and then debited, some with zero balances suddenly credited and then adjusted again.

It’s raising serious red flags ,” In response, the FCCPC said it would engage Guaranty Trust Bank (GTB) over reports of network failures that hinder customers from accessing their funds or using banking applications. For MTN, the problem is basically a matter of poor internet/data service that is getting more deplorable by the day, simply leaving customers unable to carry out their internet-based activities. It is important to note that the largest telco in Nigeria reported a N519.

1bn loss during the first half of 2024 resulting from foreign exchange losses relating to the high inflation rate and the naira’s devaluation. The company also reported that it is being owed N250 by Nigerian banks from its Unstructured Supplementary Service Data (USSD) rendered to bank customers. Following these losses, MTN Nigeria CEO, Karl Toriola stated that the company is unable to operate efficiently given the current circumstances and called for the Nigerian regulators to effect an immediate increase in data tariff.

He said without this, the industry would die. “There should be no delusion; if the tariff doesn’t go up, we will shut down,” Mr Toriola said. The CEO would be required to make this clear to the authorities as the FCCPC says the company would be facing questions regarding persistent complaints of undelivered data services, unexplained data depletion and inadequate customer care.

The commission also explained that the inquiries are being conducted under the Federal Competition and Consumer Protection Act (FCCPA) 2018, specifically Sections 17, 18, 32, 33, 80, 110, 111, 112 and 113, which empower the FCCPC to investigate and resolve practices that undermine consumer rights, disrupt markets, or create unfair competition. The statement added that the FCCPC’s engagement with these companies provides a platform to address consumer concerns, clarify business practices, and enforce compliance with regulatory standards. The FCCPC urged consumers to continue to report instances of poor service delivery or exploitative practices to the FCCPC through its official channels.

See also: Missing funds, unexplained loans and angry customers: Is GTBank still in crisis?.