Major Win for Bank Customers as Court Upholds FCCPC’s Authority Over Banks

On April 22, 2026, the Federal High Court in Abuja affirmed the Federal Competition and Consumer Protection Commission’s (FCCPC) power to investigate consumer complaints against banks. The court dismissed UBA Plc’s challenge to FCCPC jurisdiction and fined the bank ₦2 million for bringing a frivolous suit. Justice James Omotosho ruled that neither the Banks and Other Financial Institutions Act nor the Central Bank of Nigeria Act grants the CBN authority over consumer protection matters in the banking sector. He cited provisions of the Federal Competition and Consumer Protection Act, which override conflicting laws on competition and consumer issues. The FCCPC’s Executive Vice Chairman hailed the verdict as a landmark victory for bank customers. He said it reinforces regulatory accountability, boosts consumer confidence, and urges banks to strengthen their internal complaint-resolution processes.

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