The Federal Competition and Consumer Protection Commission (FCCPC) on Thursday sealed three properties belonging to Paradise Estates in Abuja over failure to deliver houses to subscribers three years after full payment.
The enforcement exercise, carried out in the Life Camp area of the Federal Capital Territory (FCT), followed repeated consumer complaints and the company’s failure to comply with regulatory directives.
Speaking after the operation, the Deputy Director of Surveillance and Investigation, Mr. Marvin Nadah, said the Commission acted after exhausting its compliance processes.
He explained that the FCCPC had received several petitions from affected homebuyers alleging non-delivery of properties despite full payment made over a prolonged period.
“We have been inundated with complaints in the real estate sector, some of which are against Paradise Estates Limited,” Nadah said.
“Those complaints were received, reviewed through a redress process, and a determination was made. A compliance notice was issued directing the company to hand over the properties to consumers who had paid in full for over three years without receiving value.”
He added that the company’s failure to comply with the notice issued under Section 150 of the FCCPA 2018 necessitated enforcement action.
“It is the failure to comply with that notice that led to today’s enforcement exercise, which is sealing. These consumers have completed payment for over three years without receiving their homes,” he stated.
Nadah maintained that the Commission’s action was lawful and aimed at protecting consumers from exploitative practices in the real estate sector.
“The government cannot sit by and watch consumers being exploited or misled. The FCCPC is mandated to intervene in situations where consumer interests are harmed,” he said.
He also urged prospective property buyers to exercise caution and verify claims made by real estate developers before committing funds.
“Consumers should be vigilant and ensure they verify all promises made by developers so they are fully informed before entering any transaction,” he added.
According to him, the Commission is also reviewing other complaints against Paradise Estates as part of broader investigations into the real estate sector.
“There are many complaints against the company, and investigations are ongoing. We are looking at the sector generally and specifically at cases before us,” he said.
The FCCPC reiterated its commitment to enforcing compliance and ensuring accountability within Nigeria’s housing and property development industry.
