Court fines UBA N2m over FCCPC jurisdiction challenge

Federal High Court in Abuja dismissed UBA's lawsuit challenging FCCPC jurisdiction over commercial banks today, fining the bank N2 million for bringing a 'frivolous and unmeritorious case.' Justice James Omotosho ruled that FCCPC has statutory authority to investigate consumer complaints involving banks and financial institutions in Nigeria.

UBA had filed suit No. FHC/ABJ/CS/1972/2025 contesting whether FCCPC could investigate commercial banks and their financial products, citing Sections 251(1)(d) of the Constitution and Section 65(1)(a) of BOFIA 2020. The judge upheld FCCPC's mandate in competition and consumer protection matters for the financial sector.

FCCPC CEO Tunji Bello hailed the judgment as 'a significant milestone in our advocacy for bank customers who have for long endured unfair treatment.' The ruling provides judicial guidance on the relationship between sector regulation and consumer protection framework under FCCPA.

This legal decision strengthens regulatory oversight of banking practices and gives consumers stronger avenues for addressing unfair treatment by financial institutions.

SOURCE: https://dailypost.ng/2026/04/22/court-fines-uba-n2m-for-frivolous-case-against-fccpc/