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FCCPC welcomes CBN’s 48-hour refund guidelines for bank customers 

Eze Chidozie by Eze Chidozie
October 15, 2025
in Business
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FCCPC welcomes CBN’s 48-hour refund guidelines for bank customers 
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The Federal Competition and Consumer Protection Commission (FCCPC) welcomes the Central Bank of Nigeria’s (CBN) draft guidelines requiring all banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours.

The exposure of the CBN’s Draft Guidelines on the Operations of Automated Teller Machines in Nigeria follows the FCCPC’s Consumer Complaints Data Report published in September 2025. 

The report, which covered the period from March to August 2025, showed that the banking and fintech sectors accounted for the highest number of complaints nationwide, over 3,000 cases in banking alone, with about ₦10 billion recovered for customers across 30 sectors. 

The findings highlighted recurring issues such as failed transactions, unauthorised deductions, and delayed refunds, all of which the CBN draft guidelines seek to address.

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, described the proposal as “a timely and long-awaited correction to a persistent consumer challenge.” He noted that, even at the draft stage, it demonstrates stronger alignment between regulatory agencies committed to consumer protection.

“It is consistent with what the FCCPC has been advocating, given the number of complaints we receive about failed transactions. We commend the CBN for this decisive step, which will ease the burden on consumers and rebuild trust in financial services,” he added.

The Commission notes that the proposed directive is consistent with the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018, particularly Sections 17(g), (h), (l), (s), and (t). 

These sections mandate the elimination of unfair practices, the promotion of fair dealings, the resolution of consumer complaints, the protection of consumer interests across all sectors, and the adoption of measures to ensure that goods and services are safe for their intended use.

The Commission advocates the prompt adoption and implementation of the proposed directive, as its early enforcement would provide immediate relief to consumers who continue to experience delayed or unresolved electronic transaction reversals. Timely adoption would also reinforce accountability within the banking sector and demonstrate a shared regulatory commitment to fairness, efficiency, and consumer confidence.

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Suspension of Mike Ozekhome SAN: A Hasty Decision By The LPPC And The Prejudicial Effect Of Same  
Opinion

Suspension of Mike Ozekhome SAN: A Hasty Decision By The LPPC And The Prejudicial Effect Of Same  

by Newsdesk Africa
June 26, 2026
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By Sheriff. C. ADELE, Esq  On June 23, 2026, the Legal Practitioners’ Privileges Committee (LPPC), at its 173rd General Meeting, approved the suspension of Chief Mike Ozekhome from the rank of Senior Advocate of Nigeria (SAN). The suspension, announced pursuant to Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria, is to remain in force pending the final determination of disciplinary proceedings before the LPPC’s Disciplinary and Ethics Sub-Committee.   While the LPPC asserts that the suspension is intended to "safeguard the integrity, dignity and prestige of the rank of Senior Advocate of Nigeria", this decision raises profound concerns about procedural propriety, jurisdictional overreach, and the prejudicial effect it portends for both the legal profession and the administration of justice. This article critically examines the hasty decision of the LPPC, its implications, and why it constitutes a premature verdict that undermines the very principles of natural justice the legal profession is sworn to uphold.  Chief Mike Ozekhome, a prominent constitutional lawyer and human rights advocate, is currently facing disciplinary proceedings before the LPPC’s Disciplinary and Ethics Sub-Committee. The proceedings relate to his involvement in a controversial property dispute in the United Kingdom concerning a property located at 79 Randall Avenue, London. Chief Ozekhome is also standing trial before an FCT High Court in Maitama, Abuja, on a 12-count charge, to which he has pleaded not guilty.  What is particularly significant and troubling is that the same issues before the LPPC are also pending before the Legal Practitioners Disciplinary Committee (LPDC), the body statutorily charged with the responsibility of sanctioning legal practitioners for professional misconduct. The LPDC is yet to make any determination on the substantive allegations against chief Ozekhome. Yet, the LPPC has proceeded to impose a suspension that, in practical effect, constitutes a pre-determinative sanction.  The Distinct Jurisdictions of the LPPC and LPDC  To appreciate the gravity of the LPPC’s decision, it is essential to understand the distinct and separate roles of the LPPC and the LPDC under Nigerian law.  The LPPC is a statutory body established under Section 5 of the Legal Practitioners Act. Its primary function is to consider and determine eligible applicants for the conferment of the rank of Senior Advocate of Nigeria. Chaired by the Chief Justice of Nigeria, the LPPC is also empowered to make rules as to the privileges to be accorded to Senior Advocates of Nigeria. While the LPPC has disciplinary powers over SAN holders, these powers are ancillary to its primary function of conferring and regulating the rank. The LPPC's disciplinary authority is derived from its guidelines, including Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria. However, this authority is limited to matters pertaining to the rank itself and the privileges associated with it.  The LPDC, by contrast, is a committee of the Body of Benchers established under Section 10 of the Legal Practitioners Act. Its mandate is far broader and more fundamental: it is the primary disciplinary body for all legal practitioners in Nigeria. The LPDC exercises jurisdiction over all lawyers called to the Nigerian Bar and is empowered to investigate allegations of professional misconduct and impose sanctions ranging from admonition to suspension and disbarment.  The Critical Distinction  The distinction between these two bodies is not merely academic, it is fundamental to the proper administration of justice in the legal profession. The LPPC is primarily a conferring and privilege-regulating body. The LPDC is the disciplinary body par excellence. While the LPPC may have incidental disciplinary powers over SAN holders, these powers cannot supplant or pre-empt the primary disciplinary jurisdiction of the LPDC.  When the same issues are pending before both bodies, as they are in chief Ozekhome’s case, the LPDC’s determination on professional misconduct must logically precede any disciplinary sanction from the LPPC. The LPPC cannot independently determine facts of professional misconduct that are the exclusive province of the LPDC.  The Hasty Decision: A Premature Verdict  The LPPC’s decision to suspend chief Ozekhome from the rank of SAN pending the conclusion of disciplinary proceedings is, with respect, a hasty and premature verdict that suffers from several fundamental flaws.  Procedural Impropriety ...

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