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By Stella Odueme
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the headquarters and management office of Peachville Platinum Estate Limited over alleged failure to deliver a N140 million property to a customer despite receiving full payment.
The enforcement action was carried out on Thursday by a team of FCCPC officials led by Marvin Nadah, following the company’s failure to comply with a Compliance Notice issued by the Commission.
The sealed facilities are the company’s headquarters along Airport Road, Abuja, and its management office at Peachville Gardens, opposite the Games Village.
According to a statement by the Director of Corporate Affairs, Ondaje Ijagwu, on Friday, the complaint involved a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District, Abuja.
According to the complainant, the full purchase price was paid in August 2025 after the company promised to hand over the property upon completion of payment. However, the property allegedly remained unfinished and was never delivered.
The Commission said it investigated the complaint and provided both parties with an opportunity to present their positions.
During the investigation, 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. However, it failed to provide documentary evidence to support the claim.
The FCCPC subsequently convened further proceedings and summoned the company to provide additional information. It said the company's responses did not satisfactorily address the issues raised, while its representatives declined to sign the witness statements required to conclude the hearing.
Following the company's failure to comply with the Compliance Notice issued on August 17, 2026, and received on August 19, the Commission proceeded with enforcement action under Section 150(4)(a) of the Federal Competition and Consumer Protection Act, 2018.
Commenting on the development, FCCPC Executive Vice Chairman and Chief Executive Officer, Mr Tunji Bello, said homebuyers who paid for properties were entitled to rely on developers' commitments regarding delivery timelines.
He said developers must promptly explain any delays and provide realistic timelines for completing and handing over properties.
Bello added that the Commission had given both parties an opportunity to be heard, stressing that businesses were legally required to comply with notices issued by the regulator within the stipulated period.
He warned that the Commission would not hesitate to enforce the law against businesses that failed to comply with its directives.