FCCPC Seals Abuja Estate Firm Over ₦140m Uncompleted Property
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the offices of Peachville Platinum Estate Limited in Abuja over its alleged failure to deliver a ₦140 million property to a buyer despite receiving full payment.
The enforcement action followed the company’s failure to comply with a directive issued by the commission after investigating a complaint involving a four-bedroom detached duplex with boys’ quarters at Peachville Estate, Phase II, Kukwaba District, Abuja.
In a statement issued on Friday, the FCCPC said its enforcement team, led by Marvin Nadah, sealed the company’s headquarters along Airport Road and its management office at Peachville Gardens, opposite the Games Village, on Thursday.
According to the commission, the buyer paid the full purchase price in August 2025 after the developer promised to hand over the property upon completion of payment. However, the buyer reported that the building remained unfinished and was never delivered.
The FCCPC said it investigated the complaint and gave both parties an opportunity to present their accounts of the transaction.
During the investigation, the company reportedly claimed that both parties had agreed at a meeting with the Federal Capital Territory Administration that the property would be delivered by August 2026.
However, the developer failed to provide documentary evidence to support the claim.
The commission subsequently requested additional information from the company, but said the responses did not adequately address the concerns raised. It also stated that its representatives declined to sign the witness statements required to conclude the proceedings.
The FCCPC said it 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 two days later, it failed to comply within the stipulated period.
Consequently, the commission invoked Section 150(4)(a) of the Act to enforce its directive.
Commenting on the development, the FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said property developers must honour their commitments to buyers, particularly after receiving full payment.
He noted that purchasing a home involves years of savings for many Nigerians, adding that buyers should be able to rely on agreed payment and property handover arrangements.
Bello also urged developers experiencing construction delays to communicate the reasons to buyers and provide realistic timelines for completing and delivering their properties.
He stressed that businesses must comply with directives issued by the commission within the specified period, warning that failure to do so could attract enforcement measures under the law.
The commission maintained that the sealing of the company’s offices followed its failure to meet the requirements of the Compliance Notice.
