In a decisive move to protect consumers and enforce regulatory compliance, the Federal Competition and Consumer Protection Commission (FCCPC) today sealed the business premises of two prominent real estate developers in the Federal Capital Territory, Ochacho Real Estate and TI’Bilon Construction and Facility Management Company.
The enforcement action follows the persistent refusal of both companies to comply with official compliance notices previously issued by the Commission.
The notices required the developers to hand over housing units to consumers who had fully paid for their properties but were left stranded without their homes.
The sealed offices will remain shut indefinitely until both organisations fully fulfill their outstanding obligations to the affected consumers.
The Commission’s action was taken pursuant to Section 150(4) of the Federal Competition and Consumer Protection Act (FCCPA), 2018, which empowers the FCCPC to take strict regulatory action against non-compliant entities.