FCCPC seals Peachville Estate offices over non-delivery of N140m property

The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Peachville Platinum Estate Limited headquarters and office complex for failure to deliver a property worth N140 million to its customer.
A statement issued by Mr Ondaje Ijagwu, the Director, Corporate Affairs of the Commission, in Abuja on Friday, said the enforcement followed the company’s failure to comply with a Compliance Notice issued by FCCPC.
Ijagwu said the company had failed to deliver the N140 million property to the customer.
According to him, the complainant told the Commission that they paid the full purchase price of the property in August, 2025 after the company assured them that it would hand over the property upon completion of payment.
He said the complainant disclosed that the property remained unfinished and was never handed over to them.
”A team from the Commission sealed the company’s headquarters located along Airport Road, alongside its management office situated 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.
”The Commission investigated the complaint and gave both parties an opportunity to present their accounts.
”The company said the parties had agreed at a meeting at the Federal Capital Territory Administration that it would hand over the property by August 2026.
”The company did not provide documents to support its account of the agreement and the Commission convened further proceedings and summoned the company to provide additional information,” he said.
Ijagwu noted that the company’s responses failed to satisfactorily address the issues the Commission raised, adding that its representatives also declined to sign the witness statements required to conclude the hearing.
He said that the Commission issued a Compliance Notice to the company on Aug. 17 under section 150 of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
Ijagwu said that the company received the notice on Aug. 19, but failed to comply with the it, hence the enforcement.
Ijagwu quoted Mr Tunji Bello, the Executive Vice Chairman of the Commission, as saying “buying a home involved years of savings for many citizens.”
Bello advised developers to always be committed in their dealings with their customers
”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.
”Where a business fails to comply, the Commission will take the enforcement action provided for by law,” he said.