The FCCPC has sealed the Lagos office of PWAN MAX over allegations of unallocated plots, consumer complaints and regulatory non-compliance, with possible refunds and prosecution looming
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Lagos office of PWAN MAX Property and Business Solutions Ltd over alleged persistent non-compliance with regulatory directives arising from multiple consumer complaints regarding unallocated plots of land.
The enforcement action, carried out on Monday, June 8, 2026, saw FCCPC officials place a large “SEALED” notice across the entrance of the company’s office in Lagos.
Officials who conducted the operation found no staff on the premises. A notice displayed at the office informed clients and Property Business Owners (PBOs) that the company was observing a five-day fasting and prayer programme from June 8 to June 12, with normal operations expected to resume on June 15.
Speaking during the exercise, the FCCPC South-West Zonal Coordinator, Mrs Olubunmi Otti, said the commission’s investigation began in February 2025 following a complaint from a subscriber who alleged that 20 fully paid plots of land had not been allocated.
According to her, the company initially ignored two invitations and a summons issued by the commission before eventually undertaking to allocate the plots and provide all relevant documentation by June 30, 2025.
She explained that the company failed to fulfil the commitment after the deadline elapsed, prompting the commission to issue a Compliance Notice pursuant to Section 150 of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
“The compliance notice clearly outlined the nature of the breach, the remedial actions required, the timeline for compliance and the consequences of non-compliance,” Otti said.
She added that the company still failed to comply, leading the commission to invoke Section 150(4)(a) of the Act, which empowers the FCCPC to close premises where breaches persist despite regulatory notices.
“The sealing will remain in force until the commission is satisfied that the breach has been fully remedied, after which a compliance certificate may be issued,” she stated.
Otti disclosed that the commission is currently investigating several other complaints against PWAN MAX involving land transactions, investment schemes and allegations of non-allocation of lands and buildings paid for by subscribers.
She noted that affected consumers could be entitled to refunds and warned that continued non-compliance could result in prosecution. The commission has also issued a summons directing the company to appear before it within seven days.
Some affected subscribers narrated their experiences during the enforcement exercise.
One of them, Mr Olamide Olagundoye, said he began making instalment payments after being introduced to the scheme by a former employee of the company. He alleged that despite fulfilling his obligations, he never received a contract of sale and was unable to obtain satisfactory responses from the company despite several visits.
Another subscriber, Mr Ifeanyi Okafor, claimed he paid about N480,000 into one of the company’s schemes beginning in 2018 and had been pursuing a refund for years without success.
PWAN MAX, a subsidiary of PWAN Group Limited, is headquartered in Lekki, Lagos. The company describes itself as a real estate marketing, investment, management and development firm focused on expanding access to home ownership through a nationwide network of Property Business Owners.
The latest enforcement action comes amid increasing regulatory scrutiny of the company’s operations.
Earlier in 2025, the Securities and Exchange Commission (SEC) issued a public advisory stating that PWAN and PWAN MAX were not registered to solicit investments from members of the public. The commission warned that the firm’s operations exhibited characteristics commonly associated with Ponzi schemes, including promises of high returns and reported difficulties experienced by investors seeking withdrawals.
Also read: PWAN land allocation update delivers emotional relief to concerned clients
The FCCPC action also forms part of a broader clampdown on real estate firms accused of failing to deliver paid properties or provide refunds to subscribers. In recent months, the commission has taken enforcement measures against several developers, including Ochacho Group Worldwide, Ti’Bilon Construction and Paradise Estate in Abuja.
Consumer protection advocates have repeatedly raised concerns about challenges within Nigeria’s real estate sector, including delayed allocations, missing title documents, overlapping allocations and difficulties obtaining refunds.
Otti urged prospective investors to conduct thorough due diligence before committing funds to any real estate scheme and advised businesses to take regulatory compliance notices seriously.
As of press time, PWAN MAX had not issued any official statement regarding the sealing of its office beyond the notice announcing its fasting and prayer programme.
The office is expected to remain sealed pending verification by the FCCPC that all regulatory requirements and consumer obligations have been satisfactorily addressed.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator and a recipient of the D9112 Superstar Icon Award, who writes ruthlessly about pop culture, religion, politics and entertainment.
