By Abiodun Folarin
WorldStage— The Federal Competition and Consumer Protection Commission (FCCPC), has sealed the headquarters and management offices of Peachville Platinum Estate Limited in Abuja over its alleged failure to deliver a N140 million property despite receiving full payment from a buyer.
The enforcement action was carried out on Thursday by FCCPC officials led by Marvin Nadah, following the company’s failure to comply with a Compliance Notice issued by the Commission.
In a statement, the FCCPC’s Director of Corporate Affairs, Ondaje Ijagwu, said the affected offices are located along Airport Road and at Peachville Gardens, opposite Games Village, Abuja.
The dispute arose from the purchase of a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District, Abuja.
According to the Commission, the complainant paid the full purchase price in August 2025 after the developer promised to hand over the property upon completion of payment. However, the buyer alleged that the property remained unfinished and was never delivered.
The FCCPC said its investigation provided both parties an opportunity to present their accounts.
The company claimed that an agreement was reached at a meeting with the Federal Capital Territory Administration (FCTA) for the property to be handed over by August 2026 but failed to provide documentary evidence to support the claim.
The Commission subsequently convened further proceedings and summoned the company to provide additional information. However, its responses did not satisfactorily address the issues, while its representatives reportedly declined to sign the witness statements required to conclude the hearing.
Following the proceedings, the FCCPC issued a Compliance Notice to the company on August 17, 2026, under Section 150 of the Federal Competition and Consumer Protection Act, 2018. Although the company received the notice on August 19, it failed to comply within the stipulated period.
The Commission said it consequently invoked its enforcement powers under Section 150(4)(a) of the Act to seal the company’s premises.
Commenting on the action, FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said property buyers who make full payments are entitled to rely on developers’ commitments regarding delivery timelines.
He said buying a home often involves years of savings, stressing that developers must communicate promptly and provide realistic timelines whenever delays occur.
Bello added that the Commission had given both parties an opportunity to be heard before issuing its Compliance Notice, warning that the FCCPC would continue to enforce compliance against businesses that disregard their statutory obligations.
