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 alleged non-compliance with regulatory directives and exploitation of consumers.
The Commission said the enforcement action followed the persistent refusal of both firms to comply with official notices directing them to hand over housing units to customers who had fully paid for their properties but were yet to receive possession.
According to the FCCPC, several consumers were left stranded despite fulfilling their financial obligations to the developers.
The Commission stated that the affected business premises would remain sealed indefinitely until the companies fully meet their outstanding obligations to the affected consumers.
FCCPC noted that the action was carried out in line with Section 150(4) of the Federal Competition and Consumer Protection Act (FCCPA), 2018, which empowers the agency to take regulatory measures against entities that fail to comply with its directives.
The Commission reaffirmed its commitment to protecting consumers and ensuring accountability in Nigeria’s real estate sector.
