He turned up at Loftus Road in an attempt to force through a move to QPR.
But the cheeky Nigerian's bid failed when he was turned away by Rangers executives after he arrived for talks about a proposed £3million move WITHOUT Albion's permission.
Peace said: "This evening's developments have brought a conclusion to what has been an unsavoury affair.
"As our Sporting & Technical Director (designate) Richard Garlick has repeatedly said in recent days, we had no need or desire to sell our core players.
"The only way we would have considered letting Peter leave was if an acceptable offer was forthcoming and if we had found a suitable replacement at relatively short notice.
"Neither materialised and, in the end, the matter became a point of principle as much as anything.
"Peter has acted wholly unprofessionally. He must now accept the fact he remains under contract for a further 18 months and has to focus on his Albion commitments."