Nigerians can now take complaints against their banks directly to the Federal Competition and Consumer Protection Commission (FCCPC), following a decisive ruling by a Federal High Court in Abuja that has clarified the Commission’s authority over consumer protection issues in the financial sector.
The judgement, delivered by Justice James Omotosho, dismissed in its entirety a suit filed by United Bank for Africa (UBA Plc), which had challenged the jurisdiction of the FCCPC in matters involving banks and other financial institutions. The court’s decision is being widely interpreted as a major step forward for consumer rights enforcement in Nigeria’s banking industry.
In suit number FHC/ABJ/CS/1972/2025, UBA had asked the court to determine whether, under Section 251 (1) (d) of the 1999 Constitution (as amended) and Section 65(1)(a) of the Banks and Other Financial Institutions Act (BOFIA) 2020, the FCCPC could lawfully exercise oversight over a commercial bank licensed by the Central Bank of Nigeria (CBN), including its services and operations.
Justice Omotosho, however, rejected the bank’s arguments after reviewing the relevant provisions of the Constitution and BOFIA. He affirmed that the FCCPC retains statutory powers to address competition and consumer protection issues across sectors, including banking. The court further imposed a ₦2 million fine on UBA for what it described as “a frivolous and unmeritorious case against the defendant.”
In a key part of the ruling, the court clarified that no other agency in Nigeria has been specifically empowered to receive and investigate consumer complaints in the manner provided under the FCCPC framework. “No portion of the Banks and Other Financial Institutions Act gives such powers to the Central Bank of Nigeria, nor does the Central Bank of Nigeria Act,” Justice Omotosho stated.
“The FCCPC (Defendant) is therefore the proper agency to investigate such consumer complaints,” he held, adding that the Commission “is vested with statutory powers to inquire into Consumer Protection issues involving customers and banks.”
The judge referenced Sections 1, 2, 17(e), and 104 of the Federal Competition and Consumer Protection Act (FCCPA) 2018, which define the Commission’s objectives, investigative scope, and overriding authority in matters relating to competition and consumer protection. Section 104 notably establishes that the provisions of the Act take precedence over any conflicting laws, subject only to the Constitution.
Reacting to the judgement, FCCPC Executive Vice Chairman and CEO, Tunji Bello, described the outcome as “a significant milestone in our advocacy for bank customers who have for long endured unfair treatment.”
He said the ruling offers clear judicial guidance on the relationship between sector-specific regulators and the broader consumer protection framework established under the FCCPA. According to Bello, it reinforces public confidence that consumers across all sectors, including financial services, have access to proper channels for complaint resolution and lawful redress.
He also noted that the judgement provides clarity for businesses, emphasising that regulatory accountability and consumer confidence are mutually reinforcing pillars of a stable market environment. Bello added that the Commission will continue to engage financial institutions professionally and fairly, while encouraging internal complaint mechanisms that resolve issues promptly.
The ruling effectively settles a long-standing question about oversight in Nigeria’s financial services sector, positioning the FCCPC as the primary avenue for consumers seeking redress against banks. For customers, it signals a stronger layer of protection and a more accessible path to challenge unfair practices.
