The Federal High Court in Abuja has upheld the powers of the Federal Competition and Consumer Protection Commission, FCCPC, to investigate consumer protection complaints involving banks and their customers.
The judgment was delivered on Wednesday, April 22, 2026, by Justice James Omotosho in Suit No. FHC/ABJ/CS/1972/2025. The case was brought by a commercial bank, which asked the court to determine whether the FCCPC could lawfully exercise jurisdiction over a licensed bank, its operations, financial products, or services in view of Section 65(1)(a) of the Banks and Other Financial Institutions Act, BOFIA, 2020.
In its decision, the court held that Section 104 of the Federal Competition and Consumer Protection Act, FCCPA, 2018 takes precedence in matters relating to competition and consumer protection. Justice Omotosho ruled that the FCCPC has the statutory authority to inquire into consumer protection issues involving banks and their customers. The suit was dismissed.
The ruling addresses a long-standing jurisdictional dispute between banking regulation under BOFIA and consumer protection oversight under the FCCPA. According to the commentary, BOFIA had often been interpreted by practitioners as limiting the application of the FCCPA in banking matters, except in cases involving mergers and acquisitions. The court has now clarified that consumer protection complaints in the banking sector fall within the FCCPC’s remit.
The commentary said the decision comes at a time of rising consumer complaints across Nigeria’s financial system, including failed transactions, unauthorised deductions, undisclosed charges, fraud, security breaches, and predatory practices in digital lending. It added that weak consumer awareness and overlapping mandates among regulators have often delayed complaint resolution.
It further noted that the judgment could strengthen public confidence in the financial system by confirming that consumers have an external channel for redress beyond their banks and the sector regulator. That, it argued, could support broader financial inclusion, especially for vulnerable and underserved populations.
The commentary also called for stronger public awareness, particularly in rural areas, so consumers know where to turn when they face unresolved banking issues such as failed transfers or delayed reversals. It said regulators, banks, legal practitioners, community groups, faith-based organisations, consumer advocates, and the media all have a role to play in closing that gap.
