The Federal Competition and Consumer Protection Commission (FCCPC) has sealed Paradise Estate in Abuja following complaints from buyers over the alleged failure to deliver houses despite full payment.
The Commission disclosed this in a statement shared on its official X handle, stating that the action was taken after reviewing multiple petitions from affected consumers.
According to the FCCPC, the complaints centred on claims that some subscribers had completed payments for properties but were yet to receive the homes promised to them.
The agency said its intervention was in line with its mandate to protect consumers, stressing that its oversight extends beyond everyday retail transactions to high-value investments such as housing.
“Consumer protection is not limited to everyday retail purchases. It also applies to major financial commitments such as housing, where many Nigerians invest life savings based on promises made by developers,” the statement read.
The Commission noted that businesses must be held accountable for commitments made to consumers, particularly where financial obligations have been fulfilled.
“The Commission maintains that businesses must not make promises they cannot fulfil. Where payment has been received, agreed timelines must be honoured, delays properly explained, and lawful remedies provided where obligations are unmet,” it added.
The FCCPC further emphasised that trust in the real estate sector depends on transparency and adherence to agreed terms.
“Confidence in housing markets depends on transparency, honest communication, proper records, and delivery in line with commitments,” the Commission stated.
It urged affected buyers to submit relevant documents, including proof of payment and correspondence, through its complaints portal for further action.
