Nigeria Reports E-commerce and Digital Lending as Growing Pain Points for Nigerians

The Federal Competition and Consumer Protection Commission (FCCPC)  has published new data highlighting the scale of consumer dissatisfaction across Nigeria’s economy. The report, which covers the period from March to August 2025, shows that banking, fintech, and electricity remain the most problematic sectors for consumers, reflecting persistent service failures and systemic issues.

Banking services accounted for the largest number of complaints, with over 3,100 cases lodged with the Commission. These complaints often revolved around unauthorised loan deductions, disputed account charges, and transaction errors, signalling deep-rooted challenges in the financial services sector. Fast Moving Consumer Goods (FMCG) followed with more than 1,500 complaints, while fintech services attracted over 1,400 cases, underscoring the growing reliance on digital financial platforms. The electricity sector ranked fourth with 458 cases, many of which were linked to billing disputes and poor service delivery. Other areas such as e-commerce, telecommunications, retail, aviation, information technology, and logistics also featured among the top sources of complaints.

In total, 9,091 consumer complaints were resolved during the reporting period, with financial recoveries exceeding ₦10 billion. The FCCPC noted that this figure reflects not only the scale of harm experienced by consumers but also the heavy financial burden many endure in the absence of effective redress systems.

Banking and fintech complaints dominated in terms of financial impact, highlighting the vulnerability of consumers in sectors where services are both essential and high value. The Commission stressed the need for closer regulatory coordination with the Central Bank of Nigeria to address recurring failures and restore public trust. The electricity sector also drew strong criticism for persistent billing errors and service delivery challenges, prompting calls for tighter collaboration between the FCCPC, the Nigerian Electricity Regulatory Commission (NERC), and electricity distribution companies.

E-commerce emerged as another pain point, with disputes frequently involving failed deliveries, counterfeit goods, and refund issues. While the monetary value of these cases is often low, their high frequency highlights the growing risks of online shopping for Nigerian consumers. Digital lending also stood out, with many complaints tied to exploitative practices in microfinance and investment schemes. The FCCPC said its new regulations targeting debt collection practices and consumer protection in digital lending would help curb abuse in the sector.

Speaking on the findings, FCCPC Executive Vice Chairman and Chief Executive Officer, Mr. Tunji Bello, said the data tells a larger story of consumer frustration and the challenges Nigerians face in accessing essential services. He stressed that the Commission remains committed to holding businesses accountable, enforcing compliance with the law, and promoting fair practices that safeguard consumer welfare.

The FCCPC emphasized that it is stepping up monitoring and enforcement activities while working closely with sector regulators to address systemic failures. Businesses were urged to study complaint trends and strengthen internal redress mechanisms to ensure timely and fair resolution of consumer grievances. Meanwhile, consumers were encouraged to continue reporting violations through the FCCPC’s complaint portal or state offices, as each report assists in identifying systemic issues and enforcing compliance.

The Commission’s report not only provides a snapshot of consumer protection in Nigeria but also highlights broader concerns about the quality of essential services. By recovering ₦10 billion for consumers in just six months, the FCCPC has reinforced its role as a critical watchdog in Nigeria’s marketplace, while drawing attention to the urgent need for reforms in financial services, electricity, and digital markets.