AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A Nigerian business can set its own rules for change-of-mind returns, such as time limits, condition of goods and refund method, but it cannot use a policy to remove consumers’ rights under the Federal Competition and Consumer Protection Act (FCCPA). Goods that are defective, unsafe, unfit for a purpose the customer told you about, or not as described must be accepted back with a full refund, and a sign saying ‘no refund’ does not change that.
‘Goods sold in good condition are not returnable’ is printed on receipts across Nigeria. It is a useful reminder for change-of-mind purchases, but it does not override the law where goods are faulty. A clear refund policy helps you handle returns consistently, train staff and avoid complaints to the Federal Competition and Consumer Protection Commission (FCCPC).
What the FCCPA says you must allow
Mondaq’s summary of consumer rights under the FCCPA lists the points that matter for refunds:
- Consumers may reject goods that are unfit for a purpose they told the supplier about, do not match the sample or description where they could not examine them first (for example online purchases), or are defective and unsafe. Returned goods in these cases entitle the consumer to a full refund of the money paid.
- Goods must be of good quality, free from defects, and usable and durable for a reasonable period; there is an implied warranty to that effect.
- Services must be performed on time and to a good standard. If not, the consumer is entitled to remedies, including a refund of a reasonable portion of the price.
- Consumers may cancel advance bookings and orders, with a cancellation fee only if it is fair and not excessive.
- Consumers cannot be made to waive their rights in an unfair way, and notices limiting the supplier’s liability must be drawn to the consumer’s attention conspicuously.
What you can set
| Situation | Your policy can set | Your policy cannot |
|---|---|---|
| Change of mind, goods perfect | Whether you accept returns at all, time limit, condition, store credit instead of cash | (No statutory right to return in this case on the summary above) |
| Faulty or unsafe goods | How to report, what proof of purchase you need, inspection | Refuse a refund or insist on store credit only |
| Not as described (online) | Return method and timeframe for reporting | Make the customer bear the loss of a wrong item you sent |
| Poor or late service | How complaints are raised and assessed | Exclude any refund at all |
| Cancelled booking | A fair, explained cancellation fee | Keep everything regardless of notice or cost |
For the wider legal picture see what the law expects of businesses on refunds.
Template: refund and returns policy
- [Business name] – REFUNDS AND RETURNS POLICY (version [date])
- 1. Your rights. Nothing in this policy affects your rights under the Federal Competition and Consumer Protection Act 2018.
- 2. Faulty, unsafe or not as described. If an item is faulty, unsafe, not as described, or unfit for a purpose you told us about, tell us within a reasonable time of discovering the problem. We will inspect it and give you a full refund, or a repair or replacement if you prefer.
- 3. Change of mind. You may return unused items in original packaging with proof of purchase within [7] days for [a refund / exchange / store credit]. This does not apply to [perishables, underwear, opened cosmetics, custom-made items, digital products once downloaded].
- 4. Online orders. Check your order on delivery. Report a wrong or damaged item within [48 hours] with photos to [email/WhatsApp]. We will arrange collection [at our cost].
- 5. Services. If a service was not provided as agreed, contact us within [7] days. We will redo the service or refund a fair part of the price.
- 6. Bookings and deposits. You may cancel a booking. With [7] or more days’ notice we refund your deposit in full; with less notice we keep ₦[amount], which covers [explain costs].
- 7. How refunds are paid. To the original payment method or account within [5] working days of approval. We do not refund in cash for transfer payments.
- 8. Proof of purchase. A receipt, invoice, bank alert or order confirmation.
- 9. Contact. [Name/role], [phone], [email], [address]. If you are not satisfied, you may contact the FCCPC.
Worked example (illustrative figures)
A customer buys a blender for ₦48,000 and returns it after nine days because the motor burns out. Your seven-day change-of-mind window has passed, but this is a defect, so clause 2 applies and you refund ₦48,000 in full, then claim from your supplier. A second customer returns an unused ₦48,000 blender after three days because they found one cheaper: clause 3 applies and you can offer store credit if that is what your policy says.
Steps to put a policy in place
- List the products or services where returns are realistic and those where they are not.
- Decide your change-of-mind terms and how refunds are paid.
- Train staff to separate change-of-mind returns from faulty goods.
- Keep a refund log: date, item, reason, amount, approver.
- Review the policy when you add new product lines.
Where Pryme fits
On a Pryme Business Account, the Customer Support agent can prepare refund responses in line with your policy, with a person approving refunds above a ceiling you set and actions recorded. See also how AI agents handle refunds within policy.
Questions people ask
Is ‘no refund after payment’ legal in Nigeria?
It cannot remove consumers’ rights under the FCCPA. Faulty, unsafe, unfit or not-as-described goods must be accepted back with a full refund whatever the sign says.
How many days do I have to return goods in Nigeria?
For faulty goods, act within a reasonable time of finding the problem. For change-of-mind returns, the shop’s own policy sets the period.
Can a shop give store credit instead of a refund?
For change-of-mind returns, yes, if that is the stated policy. For faulty goods, the FCCPA summary says the consumer is entitled to a full refund.
Where do I report a business that refuses a refund?
Complain to the business first in writing, then to the Federal Competition and Consumer Protection Commission, or take the matter to a court such as a small claims court.
Sources
- The rights of a consumer under the FCCPA (Mondaq, Dec 2019) · accessed Oct 2026
- Section 123 FCCPA 2018 (LawGlobalHub) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.