The Federal Competition and Consumer Protection Commission (FCCPC) has taken decisive action against two real estate firms in Abuja, sealing their offices for failing to comply with regulatory standards and exploiting consumers. Ochacho Real Estate and TI’Bilon Construction and Facility Management Company were shuttered following their persistent refusal to adhere to official notices issued earlier by the commission.
In a statement released on its official X handle, the FCCPC explained that the enforcement measure was necessary after the companies ignored compliance notices demanding the transfer of housing units to consumers who had fully paid for their properties but were left without their homes. The commission emphasized that the sealed offices would remain closed indefinitely until both firms fully meet all outstanding obligations to affected buyers.
The action was carried out under Section 150(4) of the Federal Competition and Consumer Protection Act (FCCPA) 2018, which grants the FCCPC authority to impose strict regulatory penalties on non-compliant entities. This move underscores the commission’s commitment to protecting consumer rights and ensuring accountability in the real estate sector.