The Federal Competition and Consumer Protection Commission (FCCPC) has sealed properties linked to a real estate firm, Paradise Estate Limited in Abuja following consumer complaints over failure to deliver paid-for housing.
Deputy Director, Surveillance and Investigation at the Commission, Mavin Nadah, said the enforcement action became necessary after the company failed to comply with regulatory directives.
“The commission has been inundated with complaints in the real estate sector. Some of those complaints were against the Paradise Estate Limited,” he stated.
According to Nadah, the complaints underwent due redress procedures, leading to a formal determination and issuance of a compliance notice to Paradise Estate Limited.
“We had issued a compliance notice in which we directed the company to hand over the properties that these consumers had paid for, for over three years, without getting value,” he said.
He disclosed that the notice was served on February 24, giving the firm seven days to comply, but the directive was ignored.
“Failure to comply with the notices that we had given is why we are here, to carry out an enforcement exercise, which is to seal,” Nadah explained.
He maintained that the commission’s actions were fully backed by law, particularly provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
“We are convinced of the action the commission is taking at this point as being lawful,” Nadah affirmed.
He reiterated the Commission’s commitment to protecting consumers against exploitation and misleading practices.
Nadah also advised consumers to remain vigilant when engaging with developers.