FCCPC seals Abuja real estate firm over N140m undelivered property
Abdullateef Fowewe
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the offices of Peachville Platinum Estate Limited in Abuja after the company failed to hand over a N140 million property to a buyer who paid in full more than a year earlier.
On Thursday, FCCPC enforcement officers led by Marvin Nadah locked the company’s headquarters along Airport Road and its management office at Peachville Gardens, opposite Games Village.
The action according to a statement obtained from the agency on Friday followed the firm’s failure to comply with a Compliance Notice issued on 17 August 2026.
The complaint involved a four-bedroom detached duplex with boys’ quarters at Peach Ville Estate, Phase II, Kukwaba District.
The buyer told the Commission that full payment was made in August 2025 after the developer promised immediate handover upon completion of payment.
The property remained unfinished and was never delivered.
Peachville Platinum Estate Limited claimed the parties had later agreed at a Federal Capital Territory Administration meeting to hand over the property by August 2026.
The company, however, produced no documents to support that claim.
Its representatives also declined to sign required witness statements during the Commission’s proceedings.
FCCPC Executive Vice Chairman and Chief Executive Officer Tunji Bello said, “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.”
He added, “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.”
The sealing was carried out under section 150(4)(a) of the Federal Competition and Consumer Protection Act, 2018, after the company received the notice on 19 August 2026 and failed to act within the stipulated time.
