By Kazeem Waris
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 N140 million property to a customer despite receiving full payment.
The enforcement action followed the company’s failure to comply with a Compliance Notice issued by the commission after investigating the customer’s complaint over the undelivered property.
In a press statement 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 Games Village, Abuja, on Thursday.
The complaint concerned 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, despite receiving the money, the company allegedly failed to complete and deliver the building to the buyer.
The FCCPC said the company 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.
But the developer reportedly failed to provide documentary evidence to substantiate the alleged agreement.
The commission further disclosed that the company failed to satisfactorily address issues raised during subsequent proceedings, while its representatives 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, pursuant to Section 150 of the Federal Competition and Consumer Protection Act, 2018.
The company reportedly received the notice two days later but failed to comply within the stipulated period, prompting the commission to seal its offices.
Commenting on the enforcement action, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, said the commission would not tolerate businesses that collect consumers’ money but fail to honour their contractual obligations.
He stressed that purchasing a home often represents years of savings for many Nigerians, making it imperative for property developers to honour delivery commitments or provide buyers with credible explanations for delays.
“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,” Bello said.
He explained that the commission had given both parties an opportunity to present their positions before taking enforcement action against the company.
“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,” he added.
The FCCPC said the action was in line with its statutory responsibility to protect consumers from unfair business practices and ensure that companies operating in Nigeria honour their obligations.
The development comes amid persistent consumer concerns over property transactions, particularly cases involving developers who collect substantial payments without delivering completed houses within agreed timelines.
