The Federal Competition and Consumer Protection Commission, FCCPC, has sealed the headquarters of Peachville Platinum Estate Limited in Abuja over the company’s alleged failure to deliver a N140 million residential property to a buyer despite receiving full payment.
The Commission said the enforcement followed the company’s failure to comply with a notice it issued over a complaint bordering on the non-delivery of a four-bedroom detached duplex with boys’ quarters at Peachville Estate, Phase II, Kukwaba District, Abuja.
According to a statement by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, the enforcement operation was carried out on Thursday by an FCCPC team led by Marvin Nadah.
The team sealed the company’s headquarters along Airport Road and its management office at Peachville Gardens, opposite Games Village.
FCCPC said the complainant alleged that the full purchase price for the property was paid in August 2025 after the developer promised to hand over the house upon completion of payment.
It, however, stated that the buyer claimed that the property remained unfinished and was never delivered.
Following the complaint, the Commission commenced an investigation and provided both parties with an opportunity to present their accounts of the transaction.
During the proceedings, the company reportedly claimed that both parties had agreed at a meeting with the Federal Capital Territory Administration, FCTA, that the property would be handed over by August 2026. However, it failed to provide documentary evidence to substantiate the alleged agreement.
The FCCPC subsequently convened further proceedings and summoned the company to furnish additional information.
However, the responses provided were considered unsatisfactory, while the company’s representatives reportedly declined to sign the witness statements required to conclude the hearing.
Consequently, the Commission issued a Compliance Notice to the developer on August 17, 2026, pursuant to Section 150 of the Federal Competition and Consumer Protection Act, 2018.
The company received the notice two days later but failed to comply within the stipulated timeframe.
The Commission said the sealing exercise was therefore undertaken in line with Section 150(4)(a) of the Act, following confirmation that the developer had failed to implement the directives contained in the notice.
Speaking on the enforcement action, FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said the Commission would not tolerate situations where property developers collect payments from consumers but fail to fulfil their contractual obligations.
Bello noted that purchasing a home often represents the culmination of years of savings for many Nigerians, stressing that buyers deserved to rely on commitments made by property developers.
He said developers who encounter delays in delivering properties must communicate promptly with buyers and provide realistic timelines rather than leave them uncertain about the fate of their investments.
According to him, the Commission had given both parties a fair opportunity to present their positions before taking enforcement action.
He added that businesses served with Compliance Notices were legally required to implement the directives within the specified period, warning that the Commission would invoke the enforcement powers provided by law against defaulters.
