CPC to Investigate Customer Rights Abuse in Banking Sector


The Director-General, Consumer Protection Council (CPC), Mrs. Dupe Atoki, on Thursday said it was investigating allegations of customers’ rights abuse in the banking sector, adding that a major intervention would soon be launched to address the infractions.

Speaking in Abuja at a stakeholders forum as part of activities to commemorate the World Consumer Rights Day, she added that the hospitality segment would also be probed.

The CPC boss said there had been increasing complaints from consumers in affected sector, vowing that the council was determined to pursue the protection of consumer rights with vigour.

She said: “In view of the widespread abuse of consumer rights in the country, I elected on assumption of office to embark on sectoral interventions as opposed to resolving only individual complaints.

“The reasoning is that the modification of the conduct of a major industry player resulting from such investigation would set the standards for other industry players in that sector to follow, thereby guaranteeing consumer satisfaction at a faster and wider spread.”

She added: “Without doubt, this has yielded enormous benefits to consumers in the food and beverage sector. Currently, complaints about half-filled cans and foreign substances in drinks, including rusty bottle tops have been greatly reduced.

“There are ongoing investigations in the banking and finance an hospitality sectors and the effect would soon be felt. My resolve is to take the ongoing reforms to many sectors as we can in spite of the odds. The council is determined to continue to pursue the protection of the rights of consumers with vigor.”

She added that the council would within the next few days embark on an aggressive advocacy of consumer rights.

She urged consumers to endeavour to register any institution which breach their rights rather than resort to grumbling.

Nevertheless, she noted that while a lot of successes had been recorded in the food and beverage sector of the economy in protecting the rights of the consumers, other sector were yet to feel the regulatory impact of the council.

According to her, the success recorded under her watch since her assumption of office needed to be replicated in the financial services sector owing to the widespread abuse of consumer rights.

source: http://www.thisdaylive.com/index.php/2016/03/18/cpc-to-investigate-customer-rights-abuse-in-banking-sector/