FCCPC shuts housing estate over alleged fraud, subscribers’ rights violations

*Nigeria’s Federal Competition and Consumer Protection Commission seals off Paradise Estate in Life Camp Extension, Abuja, over alleged fraud and subscriber’ rights violations

Isola Moses | ConsumerConnect

Following serious allegations of consumer rights violations levelled against the real estate company, the Federal Competition and Consumer Protection Commission (FCCPC) has sealed off Paradise Estate in Life Camp Extension, Abuja, FCT.

ConsumerConnect reports the FCCPC said its Enforcement team took the action over the estate’s alleged failure to deliver housing units to subscribers despite receiving their full payments.

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The market regulatory Commission also noted several public complaints, and other offences preferred against the Management of Paradise Estate as veritable grounds for the enforcement.

It explained that numerous complaints had been lodged against the housing state.

According to FCCPC, the Management of Paradise Estate, however, repeatedly failed to comply with regulatory directives.

The regulator further said the non-compliance eventually, prompted the FCCPC’s enforcement visitation and sealing of the company’s premises.

Speaking during the enforcement exercise in Abuja, Marvin Nadah, Deputy Director of Surveillance at FCCPC, told reporters that the property developer was given a seven-day window to respond to an official summons but failed to comply.

However, in defence of the company, Aloysius Ezenwa, Paradise Homes’ Head of Legal, reportedly argued that the transactions are protected under the existing “Contract of Sale”.

Paradise Estate equally expressed its dissatisfaction with the regulatory enforcement and attendant shutdown.

It stated that the dispute is a contractual matter that should be settled before a tribunal.

We prioritise rights of Nigerian consumers: FCCPC

In regard to its core mandate of safeguarding consumer rights in the economy, the FCCPC maintained that its actions were lawful, and that it had not been served with any court appeal to halt the process.

The Commission restated its mandate to prioritise the rights of Nigerian consumers while ensuring that property developers are held accountable.

The FCCPC, therefore, warned against unfair business practices, and cautioned other real estate developers to adhere strictly to contractual obligations and consumer protection laws in the housing sector of the Nigerian economy.

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