The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the business premises of Ochacho Real Estate and TI’Bilon Construction and Facility Management Company in Abuja over alleged non-compliance with regulatory directives and consumer complaints.
The enforcement action, carried out on Thursday, followed what the commission described as the persistent refusal of both companies to comply with earlier compliance notices issued over unresolved housing delivery obligations.
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According to the FCCPC, the notices directed the developers to hand over housing units to customers who had fully paid for their properties but had yet to take possession.
The commission said the action became necessary after the companies failed to address the complaints or meet their obligations to affected subscribers.
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It added that the sealed premises will remain closed until the firms comply fully with the directives and resolve outstanding issues with their customers.
READ: Court begins contempt proceedings against FCCPC over alleged breach of digital lending order
The FCCPC said the enforcement was taken under Section 150(4) of the Federal Competition and Consumer Protection Act (FCCPA) 2018, which empowers the commission to take regulatory action against non-compliant entities.
The agency has, in recent months, intensified enforcement actions in the real estate sector amid rising complaints from homebuyers about delayed or undelivered housing projects despite full payments.
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