The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the offices of Ochacho Real Estate and TI’Bilon Construction and Facility Management Company in Abuja over allegations of consumer exploitation and non-compliance with regulatory directives.
The enforcement action, carried out by the Commission on Friday, followed what the FCCPC described as the persistent refusal of both real estate firms to obey official compliance notices issued to them. The notices were aimed at compelling the companies to fulfill obligations owed to several homebuyers.
According to the Commission, the affected consumers had fully paid for housing units allocated to them but were allegedly denied possession of the properties despite repeated demands. The FCCPC said the situation left many buyers stranded without access to their homes.
The Commission explained that several attempts were made to secure compliance from the developers before the drastic action was taken. However, both companies reportedly failed to cooperate with the regulatory process or address the grievances raised by the consumers.
As part of the enforcement measures, the offices of the two firms have been sealed indefinitely pending the full resolution of all outstanding obligations to the affected property owners. The FCCPC maintained that the premises would remain closed until the companies comply with its directives.
The Commission stated that the action was carried out under Section 150(4) of the Federal Competition and Consumer Protection Act (FCCPA), 2018, which empowers it to sanction and take regulatory measures against entities that violate consumer protection laws or ignore lawful directives.
