A Federal High Court in Abuja has thrown out a lawsuit filed by United Bank for Africa (UBA) Plc challenging the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to probe customer complaints within the banking sector.
Delivering judgment, Justice James Omotosho ruled that the FCCPC has full legal backing to investigate consumer-related issues involving banks and other financial institutions across the country.
The court also imposed a fine of N2 million on UBA, describing the case as baseless and lacking merit.
In the dismissed suit, UBA had argued that the FCCPC had no legal right to regulate or investigate its banking operations, citing provisions of the 1999 Constitution and the Banks and Other Financial Institutions Act (BOFIA) 2020. The bank insisted that such oversight should fall strictly under the Central Bank of Nigeria (CBN).
However, the court rejected that position, stating that no existing law assigns consumer complaint handling in the banking sector exclusively to the CBN.
Justice Omotosho emphasized that the FCCPC remains the primary agency responsible for handling consumer protection issues nationwide, including complaints against banks.
The court further held that provisions of the Federal Competition and Consumer Protection Act (FCCPA) take precedence in matters relating to consumer rights and competition regulation.
Reacting to the ruling, FCCPC leadership described the decision as a strong reinforcement of consumer protection rights, especially within financial services, noting that it strengthens public confidence in complaint resolution systems.
The commission added that the judgment clarifies the shared roles of regulators while affirming its mandate to ensure fair treatment of consumers in all sectors.
