Court affirms FCCPC’s jurisdiction over banks, dismisses UBA suit
The Federal High Court in Abuja has dismissed a suit filed by United Bank for Africa (UBA) Plc challenging the authority of the Federal Competition and Consumer Protection Commission (FCCPC) to investigate consumer-related complaints involving banks, affirming that the commission is legally empowered to exercise such jurisdiction.
Delivering judgment on Wednesday in suit FHC/ABJ/CS/1972/2025, Justice James Omotosho held that the FCCPC has statutory authority under the Federal Competition and Consumer Protection Act (FCCPA) 2018 to receive and investigate consumer complaints across sectors, including the financial services industry. The court also imposed a N2 million fine on UBA, describing the case as frivolous and unmeritorious.
UBA had approached the court seeking clarification on whether, in view of 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 validly assume jurisdiction over a bank licensed by the Central Bank of Nigeria and its operations, products and services.
In his judgment, Justice Omotosho held that the provisions relied upon by the bank did not oust the FCCPC’s statutory mandate. He further noted that neither BOFIA nor the Central Bank of Nigeria Act vests consumer protection complaint-handling powers in the CBN.
The judge stated that the FCCPC remains the appropriate authority to investigate consumer protection matters in the banking sector, adding that the commission is vested with powers to inquire into issues involving customers and financial institutions.
Relying on Sections 1, 2, 17(e) and 104 of the FCCPA, Justice Omotosho held that the Act establishes a comprehensive framework for competition and consumer protection, with Section 104 providing that its provisions take precedence over other laws in matters within its scope.
In reaction, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, described the judgment as a significant development for consumer rights protection in the banking sector.
He said the decision reinforces the commission’s mandate and provides judicial clarity on the relationship between sector regulators and consumer protection authorities.
