BY CHIKA OKEKE, Abuja A Federal High Court in Abuja has fined the United Bank for Africa (UBA) N2 million for initiating a frivolous and unmeritorious case against the Federal Competition and Consumer Protection Commission (FCCPC). Justice James Omotosho on Wednesday dismissed a suit by UBA Plc seeking to contest the jurisdiction of the FCCPC, affirming the commission’s statutory authority to investigate consumer complaints involving banks and other financial institutions. In the suit, FHC/ABJ/CS/1972/2025, United Bank of 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 the Central Bank of Nigeria (CBN) and over any of its functions, acts, financial products, or financial services. Omotosho considered S...
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