FCCPC seals real estate firm over alleged failure to deliver N140 million home

The Federal Competition and Consumer Protection Commission (FCCPC) says it has sealed Peachville Platinum Estate Limited over an alleged N140 million property complaint by a consumer.

This was disclosed in a statement issued on Friday by Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs.

The development comes months after the Commission sealed two other real estate firms over alleged refund and property-related complaints by consumers.

What FCCPC is saying

According to Ijagwu, the Commission took enforcement action against Peachville Platinum Estate Limited, alleging that the company failed to comply with a Compliance Notice issued in connection with a consumer complaint over the alleged non-delivery of a N140 million property in Abuja.

During the enforcement exercise conducted on Thursday, the official stated that a team from the Commission, led by Marvin Nadah, sealed the company’s headquarters along Airport Road, as well as its management office at Peachville Gardens, opposite Games Village.

He maintained that the complaint concerns a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District, Abuja.

• “The complainant told the Commission that they paid the full purchase price in August 2025 after the company assured them that it would hand over the property upon completion of payment.
• “According to the complainant, the property remained unfinished and was never handed over,” he stated.

The official added that the Commission investigated the complaint and gave both parties an opportunity to present their accounts.

• “The company said the parties had agreed, at a meeting at the Federal Capital Territory Administration, that it would hand over the property by August 2026. The company did not provide documents to support its account of the agreement,” the official stated.

He explained that the Commission convened further proceedings and summoned the company to provide additional information.

He alleged that the company’s responses failed to satisfactorily address the issues raised by the Commission, adding that its representatives also declined to sign the witness statements required 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 the notice on 19 August 2026. After confirming that the company had failed to comply within the stipulated period, the Commission took enforcement action under section 150(4)(a) of the Act,” the statement partly reads.

Tunji Bello defends buyers’ right

Commenting on the action, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said that buying a home involves years of savings for many Nigerians.

• “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.”

He stated that where a business fails to comply with a Compliance Notice, the Commission will take the enforcement action provided for by law.

What you should know

Nairametrics previously reported that the Commission had sealed multiple facilities over consumer complaints, including the TLSContact visa application centre in Abuja, over alleged obstruction of investigations and failure to address consumer complaints.

In another case, the FCCPC sealed the headquarters of Ikeja Electric in Lagos over alleged consumer rights violations.

Ikeja Electric’s Head of Corporate Communications, Mr Kingsley Okotie, had said the issue stemmed from an isolated case involving a customer demanding multiple meters. He noted that implementing such a change was not a simple process.

• “The non-compliance issue being referred to concerns a customer using his property as a hotel with a single maximum-demand meter, who later converted the property to residential use and demanded 20 non-maximum-demand meters for the same address,” he explained.

The Commission also inaugurated a Joint Market Monitoring Taskforce in Abuja, empowering it to seal shops, warehouses and outlets found selling unsafe or substandard products as part of efforts to strengthen market oversight.