The Federal Competition and Consumer Protection Commission (FCCPC) has sealed Paradise Estate in Abuja following a series of complaints from homebuyers over alleged failure to deliver purchased properties.
In a statement on Monday, the Commission stressed that consumer protection extends beyond routine retail transactions to include significant financial investments such as housing, where many Nigerians commit their life savings based on developers’ assurances.
“Consumer protection is not limited to everyday retail purchases. It also applies to major financial commitments such as housing, where many Nigerians invest life savings based on promises made by developers,” the FCCPC stated.
The regulatory action comes after the Commission reviewed multiple complaints concerning Paradise Estate, including claims that some buyers had fully paid for their homes but are yet to take possession.
“Following complaints received and reviewed concerning Paradise Estate, Abuja, including allegations that some buyers completed payment but have not received the homes promised to them, FCCPC has initiated regulatory action in line with its statutory mandate,” the statement added.
Reiterating its stance, the Commission warned developers against making commitments they cannot meet, emphasizing the need for accountability in the real estate sector.
“The Commission maintains that businesses must not make promises they cannot fulfil. Where payment has been received, agreed timelines must be honoured, delays properly explained, and lawful remedies provided where obligations are unmet,” it said.
The FCCPC further noted that trust in the housing market is built on transparency, proper documentation, and adherence to agreed terms.
“Confidence in housing markets depends on transparency, honest communication, proper records, and delivery in line with commitments,” the Commission added.
Affected consumers have been advised to submit all relevant documents, including proof of payment and correspondence, via the FCCPC complaints portal at complaints.fccpc.gov.ng.
