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 property valued at N140 million to a buyer who reportedly paid the full purchase price.

The enforcement action followed the company’s failure to comply with a Compliance Notice the commission issued over the consumer complaint.

A team led by Marvin Nadah sealed the company’s headquarters along Airport Road and its management office at Peachville Gardens, opposite Games Village.

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

In a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu, the FCCPC said the complainant reported paying the full purchase price in August 2025 after the company promised to hand over the property upon completion of payment.

However, the property reportedly remained unfinished and was not handed over to the buyer.

The commission said it investigated the complaint and gave both parties an opportunity to present their accounts.

According to the FCCPC, the company claimed that both parties had agreed at a meeting with the Federal Capital Territory Administration that the property would be handed over by August 2026. However, it said the company failed to provide documents to support its agreement.

The commission added that it subsequently convened further proceedings and summoned the company to provide additional information, but its responses did not satisfactorily address the issues raised.

It also said the company’s representatives declined to sign the witness statements required to conclude the hearing.

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. The company received the notice two days later.

After confirming that the company had failed to comply within the stipulated period, the commission said it initiated enforcement action under Section 150(4)(a) of the Act.

The Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, said homebuyers who made full payments were entitled to rely on developers’ commitments regarding property handover.

He urged property developers to communicate delays promptly and provide buyers with realistic completion timelines.

Bello added that businesses were required to comply with the commission’s notices within the specified periods, warning that failure to do so would attract enforcement action in accordance with the law. (The Nation)