Federal Competition and Consumer Protection Commission (FCCPC) has sealed the Lagos office of PWAN MAX Property and Business Solutions Ltd. over alleged non-compliance with a regulatory directive linked to consumer complaints on unallocated plots of land.
Mrs Olubunmi Otti, South-West Zonal Coordinator, FCCPC, during the enforcement exercise on Monday, said the action followed the company’s alleged failure to comply with a Compliance Notice issued under Section 150 of the Federal Competition and Consumer Protection Act (FCCPA), 2018.
Otti said the commission had begun an investigation in February 2025 after a consumer alleged that 20 plots of land, fully paid for and subscribed to, had not been allocated.
According to her, the company failed to honour two invitations issued by the commission and was subsequently summoned to appear before it.
She said the company later gave an undertaking to allocate the 20 plots and provide all necessary documentation on or before June 30, 2025.
“However, at the expiration of the agreed timeline, the company failed to fulfil the undertaking and the commission issued a Compliance Notice in line with Section 150 of the FCCPA.
“The notice clearly stated the nature of the breach, the steps required to remedy it, the timeline for compliance and the penalties for failure to comply,” she said.
Otti said the company failed to take the required remedial steps after being served the notice.
“Consequently, in exercise of the commission’s powers under Section 150(4)(a) of the FCCPA, which requires the closure of premises where a breach continues after a compliance notice has been ignored, the commission has proceeded to seal these premises,” she said.
She added that the enforcement action was intended to protect consumers and ensure compliance with the law.
“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 said.
Otti said the commission was also handling other complaints against the company involving investments and the alleged non-allocation of lands and buildings paid for by consumers.
Officials of the commission met no staff members at the premises during the exercise.
A notice displayed at the entrance and signed by the management of PWAN MAX informed clients and Property Business Owners (PBOs) that the company was observing a five-day staff fasting and prayer programme from June 8 to June 12.
The notice stated that normal operations would resume on June 15.
Otti urged businesses to take compliance notices seriously, noting that the law left the commission with no discretion once a violation persisted after a notice had been ignored.
She also advised consumers to conduct due diligence and verify businesses before committing funds to transactions.
Responding to questions on possible refunds to affected subscribers, Otti said the company would be required to refund consumers where necessary.
“If they fail to refund the money, the law also empowers us to prosecute.
“We are issuing a summons to them and they are expected to appear before the commission within seven days,” she said.
Some affected subscribers who spoke with NAN recounted their experiences.
Mr Olamide Olagundoye said he subscribed to one of the company’s land schemes after being introduced by a former employee.
“He encouraged me to buy land and I started paying in instalments. After making the payments, I was not given a contract of sale.
“I continued calling and visiting the office, but I could not get any satisfactory response. I was told that if the land could not be allocated, I would get a refund, but nothing has happened since then,” he said.
Another subscriber, Mr Ifeanyi Okafor, said he began making payments for a land purchase in 2018 after being approached by the company’s marketers.
“Along the line, I became uncomfortable with how things were going and requested a refund of the money I had paid.
“I was repeatedly asked to send emails and return for follow-up, but the issue remained unresolved. The total amount I paid was about N480,000,” he said.
Okafor expressed hope that the intervention of FCCPC would assist affected subscribers in recovering their funds and resolving outstanding complaints.
