The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Abuja offices of Ochacho Real Estate and TI’Bilon Construction and Facility Management Company over alleged non-compliance with regulatory directives and failure to deliver paid housing units to consumers. The commission disclosed the development in a statement posted on its……
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Abuja offices of Ochacho Real Estate and TI’Bilon Construction and Facility Management Company over alleged non-compliance with regulatory directives and failure to deliver paid housing units to consumers.
The commission disclosed the development in a statement posted on its official X handle on Thursday, May 21, saying the enforcement action was aimed at protecting consumers from exploitation in the real estate sector.
According to the FCCPC, the affected firms repeatedly ignored compliance notices directing them to hand over houses to subscribers who had fully paid for their properties but were yet to receive possession.
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The agency said the offices would remain sealed indefinitely until the companies comply fully with their obligations to the affected buyers.
“The sealed offices will remain shut indefinitely until both organisations fully fulfill their outstanding obligations to the affected consumers,” the commission stated.
The FCCPC added that the action was carried out under Section 150(4) of the Federal Competition and Consumer Protection Act, 2018, which empowers the commission to take enforcement measures against entities that fail to comply with regulatory directives.
