The Federal Competition and Consumer Protection Commission, FCCPC, has sealed the offices of Peachville Platinum Estate Limited over its failure to comply with a directive concerning an alleged N140 million property deal in Abuja.
The enforcement action was carried out on Thursday by a team of FCCPC officials led by Marvin Nadah.
The team sealed the company's headquarters along Airport Road and its management office at Peachville Gardens, opposite the Games Village.
In a statement issued on Friday, the FCCPC Director of Corporate Affairs, Ondaje Ijagwu, said the action followed a consumer complaint over the alleged failure of the company to deliver 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 once payment was completed.
However, the complainant alleged that the building remained unfinished and was never handed over.
The Commission said it investigated the complaint and gave both parties an opportunity to present their accounts.
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 delivered by August 2026.
However, the company reportedly failed to provide documents to support its claim.
The FCCPC subsequently convened further proceedings and summoned the company to provide additional information.
It said the company's responses failed to adequately address the issues raised, while its representatives declined to sign the witness statements required to conclude the hearing.
Following the proceedings, the Commission 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, prompting the Commission to enforce the directive under Section 150(4)(a) of the Act.
Reacting to the development, the FCCPC Executive Vice Chairman and Chief Executive Officer, Tunji Bello, said Nigerians who invest their savings in property purchases deserve to receive what they paid for.
He said property developers must honour their commitments and provide realistic delivery timelines whenever delays occur.
Bello added that the Commission had given both parties an opportunity to be heard, stressing that businesses must comply with directives issued by the regulator.
He warned that the FCCPC would not hesitate to take enforcement action against companies that fail to comply with its notices.
FCCPC seals Peachville Platinum Estate over N140m property dispute in Abuja