By Nkechi Eze
The Federal Competition and Consumer Protection Commission (FCCPC) has taken enforcement action against Abuja-based property developer, Peachville Platinum Estate Limited, over an alleged failure to deliver a N140 million residential property to a buyer despite receiving full payment.
The Commission sealed the company’s headquarters along Airport Road and its management office at Peachville Gardens, opposite Games Village, following its failure to comply with a regulatory directive issued over the disputed property transaction.
The complaint involved a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District, Abuja. The complainant reportedly paid the full purchase price in August 2025 after the company promised to hand over the property upon completion of payment.
However, the buyer alleged that the property remained unfinished and was never handed over despite the payment.
The FCCPC said its investigation provided both parties the opportunity to present their accounts of the transaction. During the proceedings, the company claimed that an agreement had been reached at a meeting with the Federal Capital Territory Administration (FCTA) for the property to be delivered by August 2026.
The company, however, failed to provide documentary evidence to substantiate its claim.
According to the Commission, further proceedings were convened to obtain additional information from the developer, but its responses failed to satisfactorily address the issues raised. The company’s representatives also declined to sign the witness statements required to conclude the hearing.
Consequently, 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 on August 19 but failed to comply within the stipulated period.
The enforcement operation, conducted on Thursday, was led by Marvin Nadah and carried out pursuant to Section 150(4)(a) of the Act.
Speaking on the action, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Mr Tunji Bello, said the Commission would not tolerate situations where businesses collect payments from consumers but fail to honour their commitments.
Bello noted that purchasing a home often involves years of savings for many Nigerians, stressing that buyers deserve to rely on developers’ commitments regarding property delivery.
He urged property developers to provide timely explanations and realistic delivery schedules whenever challenges arise, rather than leaving consumers uncertain about the status of their investments.
He further emphasised that businesses were obligated to comply with the Commission’s directives, warning that failure to honour Compliance Notices would attract enforcement measures provided under the law.
“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,” Bello said.
