NewStats: 3,261,671 , 8,174,721 topics. Date: Friday, 30 May 2025 at 04:14 AM 71432a

The Securities and Exchange Commission has issued a stern warning to the public regarding the operations of Property World Africa Network, also known as PWAN MAX, which has been soliciting funds from unsuspecting investors under the guise of a real estate investment company.

The SEC has clarified that PWAN/PWAN MAX is not ed with the Commission to operate in any capacity within Nigeria’s capital market, raising serious concerns about the legitimacy of its activities.

In a public notice released on Tuesday via its official Twitter handle, the SEC revealed that investigations into PWAN’s operations uncovered characteristics typical of a fraudulent Ponzi scheme.

The Commission highlighted red flags such as promises of unusually high returns and the company’s failure to honour withdrawal requests from subscribers.

“The Commission hereby informs the public that PWAN/PWAN MAX are NOT ED by the Commission either to solicit investments from the public or operate in any other capacity within the Nigerian capital market,” the statement read.

The SEC’s warning comes amid growing concerns about unregulated entities exploiting investors in Nigeria’s financial markets. The Commission emphasised the risks associated with investing in uned platforms, stating, “The public is strongly advised to be wary about investing with PWAN/PWAN MAX, as any person who places such investment with these entities does so at his/her own risk.”

This caution underscores the need for due diligence among investors to avoid falling victim to fraudulent schemes.

https://punchng.com/pwan-not-licensed-to-operate-in-nigeria-sec-warns-investors/#google_vignette

Don't waste your time. They won't listen.

Nigeria and free money mentality is like Siamese twins. If these fraudsters want to make more money, just do some charity or maybe visit the orphanage and give out packs of noodles. Boom! You have decieved Nigerians patapata.

Next thing, you will see a hungry looking brother lookman, after attending a seminar saying "do you know the meaning of POOR"?

The earlier the better

Wahs

lol, make SEC dey play.

Nigerians no Dey hear word

It’s honestly confusing why the SEC is just sounding this alarm now, considering PWAN has been operating openly for years. If there were concerns about their compliance or structure, shouldn't regulatory bodies have acted earlier?
A lot of people may have already invested based on their public presence and seeming legitimacy. This delay in warning raises questions about enforcement and oversight in our regulatory system.

PWAN has been in existence for years. Is it now SEC is supposed to issue this warning?

They will never learn, its a case of people always washing their hands to break palm kernel for chicken, i rather use my money to chop suya than dash it to anyone.
PWAN is selling non existent estates

Lol nothing wey SEC wan talk they won't hear....



Is just like you telling someone who smokes cigarettes to look at the drawing or showing him or her stats of the damages cigarettes causes yearly Dem no go hear.


When he happen finish people will start blaming Sec like you want Sec to come and put Knife on ur neck not use ur money as u like...

Na people wey dey blame Sec dey mak me laff most of this people operate on Crypto now and no Govt in the world can even control that even if you ban it there's always a by for people...

This guy's have been operating in Nigeria for a while, I have seen a few complaints about them on social media....I wonder what SEC is just talking about them now!

Apart from warning the public, the authorities need to identify the promoters of these fraudulent entities and arrest them.

What then is the purpose of regulatory bodies like SEC and CAC if they don’t work together to prevent these schemes from operating in the first place? PWAN has been in the open for years, just like CBEX.

If companies can , run openly, collect millions from Nigerians, and collapse before SEC steps in, then something fundamental is broken. Regulatory collaboration and proactive enforcement are overdue.

PWAN sell lands, are they now promising returns on investments without any products like other ponzi scheme?

Why happen to arresting the organisers of they sense anything?

Good,if after this warnings,any body lose guard,na him cup of coffee,Wata Bam Bam

Pwan has been operating for more than 10 years.
Why is it now they are sounding the alarm

DolapoX:
lol, make SEC dey play.

Nigerians no Dey hear word

Nigerians don't word or they are greedy

njokuuche77:
It’s honestly confusing why the SEC is just sounding this alarm now, considering PWAN has been operating openly for years. If there were concerns about their compliance or structure, shouldn't regulatory bodies have acted earlier?
A lot of people may have already invested based on their public presence and seeming legitimacy. This delay in warning raises questions about enforcement and oversight in our regulatory system.

They are more of salary earners. To genuine attitude to work

What happening to shutting them down why allowing them to operate not everybody that read news

ARISHEM:
Pwan has been operating for more than 10 years.
Why is it now they are sounding the alarm

They have switched their modus operandi.

The Commission hereby informs the public that PWAN/PWAN MAX are NOT ED by the Commission either to solicit investments from the public or operate in any other capacity within the Nigerian capital market

https://sec.gov.ng/public-notice-property-world-africa-network-pwan-pwanmax/

This warning may mark the end of PWAN. I even thought the company was legit because it's huge

njokuuche77:
It’s honestly confusing why the SEC is just sounding this alarm now, considering PWAN has been operating openly for years. If there were concerns about their compliance or structure, shouldn't regulatory bodies have acted earlier?
A lot of people may have already invested based on their public presence and seeming legitimacy. This delay in warning raises questions about enforcement and oversight in our regulatory system.

I just wonder like you.

They have been in property business across the SW, SE and SS for years and have actually opened up property businesses in some areas that I know. Just like Adron, many have copied them and purchasing lands and properties has become very easy and straight forward. Is there something else that we do not know?

The lands that we bought had nothing to do with ponzi. Why make us fear? We know the difference between PWAN, ADRON and those crooked people who are lured into the likes of MMM.

Maybe we should just watch and see.

ElevationD:



I just wonder like you.

They have been in property business across the SW, SE and SS for years and have actually opened up property businesses in some areas that I know. Just like Adron, many have copied them and purchasing lands and properties has become very easy and straight forward. Is there something else that we do not know?

The lands that we bought had nothing to do with ponzi. Why make us fear? We know the difference between PWAN, ADRON and those crooked people who are lured into the likes of MMM.

Maybe we should just watch and see.

If SEC says a business isn't licensed, then it's not licensed. PWAN should quickly do the right thing and get SEC to update its press statement. If not, that company is going to crash soon because this press statement will scare investors and they will start pulling out their money. Don't joke with whatever SEC says.

ghu

Read to understand, Nigerians.