The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Abuja headquarters and management office of Peachville Platinum Estate Limited, after the real estate firm failed to obey a Compliance Notice over a buyer’s complaint that a N140 million house was never delivered.
The Commission’s Director of Corporate Affairs, Ondaje Ijagwu, disclosed this in a statement on Friday.
He said an enforcement team led by Marvin Nadah carried out the exercise on Thursday, sealing the company’s headquarters on Airport Road and its management office at Peachville Gardens, opposite Games Village.
The complaint involves a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District, Abuja.
The complainant told the Commission that the full purchase price was paid in August 2025, after the company assured them the property would be handed over once payment was complete. According to the complainant, the house remained unfinished and was never handed over.
The Commission investigated and gave both parties a chance to present their accounts. The company said that at a meeting at the Federal Capital Territory Administration, both sides agreed it would hand over the property by August 2026. It did not provide documents to support this claim.
The Commission held further proceedings and summoned the company for additional information. Its responses did not satisfactorily address the issues raised, and its representatives declined to sign the witness statements needed to conclude the hearing.
The Commission issued a Compliance Notice on 17 August 2026 under section 150 of the Federal Competition and Consumer Protection Act, 2018.
The company received it on 19 August 2026. After confirming that the company had not complied within the stipulated period, the Commission took enforcement action under section 150(4)(a) of the Act.
Commenting on the action, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr. Tunji Bello, said: “For many Nigerians, buying a home involves years of savings. When a developer accepts payment and commits to a handover date, the buyer is entitled to rely on that commitment. If delays arise, the developer should explain them promptly and give the buyer a realistic timetable.
“The Commission gave both parties an opportunity to be heard. Once the Commission issues a Compliance Notice, the business is required to take the steps set out in it within the specified period. Where a business fails to comply, the Commission will take the enforcement action provided for by law.”
