*** Dismiss UBA’s Suit, fined 2 million
It’s a big victory for banks customers, Says Tunji Bello
In a major boost for Advocacy for Consumer rights in the banking sector, a Federal High Court in Abuja, in its judgement, dismissed on its entirety a suit brought by the United Bank for Africa ( UBA) Plc seeking to contest the Jurisdiction of Federal Competition and Consumer Protection Commission ( FCCPC).
In its ruling, presiding Justice James Omotosho affirmed the Commission’s statutory authority to investigate consumer complaints involving banks and financial institutions.
In the suit, FHC/ ABJ/ CS/ 1972/ 2025, United Bank for Africa Plc sought to determine whether in light of Section 251 (1) (d) of the 1999 Constitution of the Federal Republic of Nigeria ( as amended 2023 ) and Section 65 (1) (a) of the Banks and Other Financial Institutions Act (BOFIA) 2020, the FCCPC could validly exercise jurisdiction over a Commercial bank duly licensed by Central Bank of Nigeria ( CBN) and over any functions, acts, financial products, or financial services.
A statement by Ondaje Ijagwu, the Commission’s Director Corporate Affairs, revealed that In his judgement, Justice James Omotosho considered Sections 251 (1) (d) of the Constitution and 65 (1) (a) of BOFIA, which the plaintiff had relied upon to challenge the Commission’s Jurisdiction and upheld the authority of the FCCPC in competition and consumer protection matters in the financial sector.
Consequently, “United Bank for Africa (UBA) Plc was fined N2 million for bringing a frivolous and unmeritorious case against the defendant”.
The statement disclosed that with respect to receiving and investigating Consumer complaints, the Court stressed that there is no other agency saddled with this responsibility except the FCCPC.
“No portion of the Banks and Other Financial Institutions Act gives such powers to CBN, nor does CBN Act,” said Justice Omotosho.
“The FCCPC ( Defendant) is therefore the proper agency to investigate such consumer complaints,” the judge said.
Justice Omotosho cited Sections 1, 2, 17 ( e) and 104 of FCCPC Act, 2018 ( FCCPA), relating to the objectives, scope, investigative powers and application of the Commission mandate in matters concerning competition and consumer protection.
Section 104 of the FCCPC Act states that : “Notwithstanding the provisions of any other law but subject to the provisions of the Constitution of the Federal Republic of Nigeria, in all matters relating to Competition and Consumer Protection, the visions of any other law.
The statement further stated that In a swift reaction, the Executive Vice Chairman/ CEO of Federal Competition and Consumer Protection Commission, Mr. Tunji Bello, hailed the judgement, describing it as a “significant milestone in our advocacy for bank consumers who have for long endured unfair treatment.”
He said the judgement provides judicial guidance on the complementary relationship between Sector regulation and the Consumer Protection Framework established under the FCCPC.
Mr. Bello stated that the decision reinforces confidence that consumers in every sector of the economy, including financial services, are critical to accessible channels for complaint resolution and lawful redress.
He noted that the judgement is also significant for businesses, as it clarifies that regulatory accountability and consumer confidence are mutually reinforcing pillars of a healthy market environment.
The statement in conclusion, stated that according to him, the Commission will continue to engage financial institutions and other Service providers professionally, fairly, and in accordance with due process, while encouraging internal complaint resolution mechanism that address consumer concern’s promptly.


























