Two real estate companies in Abuja have had their offices sealed by federal regulators. The Federal Competition and Consumer Protection Commission took action against Ochacho Real Estate and TI'Bilon Construction and Facility Management Company.
Both firms ignored compliance orders from the FCCPC. They refused to hand over completed housing units to buyers who'd paid in full.
The commission announced the closure on its official X account on Thursday. It said the seal would remain indefinitely until obligations to consumers are met.
Customers had complained they were left without homes despite completing payments. Some described years of delays and broken promises from the developers.
According to the FCCPC statement, earlier notices demanded the companies transfer properties to affected buyers. Both outfits repeatedly ignored these directives.
The enforcement action cites Section 150(4) of the Federal Competition and Consumer Protection Act 2018. This clause gives regulators power to punish firms that flout rules.
It's the latest crackdown on real estate operators in Nigeria's capital. Consumer complaints about property developers have surged in recent years.
The FCCPC framed the move as protecting vulnerable buyers. Officials say the agency won't tolerate exploitation in the housing sector.
Both companies now face pressure to settle outstanding debts. Their offices will remain closed pending full compliance with consumer demands.
