Tag: FCCPC

FCCPC Backs CBN’s 48-Hour Refund Rule for Failed ATM Transactions

Editor

The Central Bank of Nigeria’s proposed order, which requires banks to reimburse clients for unsuccessful automated teller machine transactions within 48 hours, has received praise from the Federal Competition and Consumer Protection Commission. The Commission characterised the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria as a long-overdue and timely intervention that supports ongoing efforts to safeguard consumers in the financial services industry in a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu, on Monday. Last week’s release of the draft guideline comes after…

Subscribers petition NCC, FCCPC over rapid data depletion

Editor

Telecom subscribers are sending emails and direct messages to the Nigerian Communications Commission and the Federal Competition and Consumer Protection Commission, demanding an investigation into what they describe as unexplained data consumption. Operators insist that there is no mechanism for reducing customers’ data, arguing instead that rising consumption is due to user behaviour, particularly the shift from 3G and 4G to 5G and increased video streaming habits. The controversy comes as the Nigerian Senate, last Wednesday, urged the Federal Ministry of Communications, Innovation, and Digital Economy to engage operators on…