The Federal Competition and Consumer Protection Commission has shut down the operational office of PWAN Max Property and Business Solution Limited in Lagos following allegations that the real estate firm failed to allocate land plots already paid for by subscribers, despite multiple regulatory warnings and compliance directives.
The enforcement action followed consumer complaints that the company did not deliver 20 plots of land in Lagos State, even after full payment had been made by customers. The regulator said repeated attempts to resolve the matter through formal engagement and directives were ignored, prompting a decisive intervention under its statutory powers.
Brandspur Brand News reports that the FCCPC initiated investigations after a petition was filed in February 2025, accusing the property firm of failing to fulfil its obligations to subscribers who had completed payment for land allocations. The commission subsequently summoned the company to respond to the allegations.
According to the regulator, the company initially appeared before the commission and made commitments to allocate the disputed plots and provide all necessary title documents within a specified timeline ending in June 2025. However, the commitments were allegedly not honoured after the deadline elapsed, raising further compliance concerns.
Officials stated that additional invitations and formal notices issued to the company were not complied with, despite clear instructions outlining corrective actions and potential penalties under the Federal Competition and Consumer Protection Act, 2018. The regulator maintained that the repeated breach of directives left it with no alternative enforcement option.
The FCCPC, citing its legal authority under relevant provisions of the Act, proceeded to seal the company’s premises as part of its consumer protection mandate. Authorities explained that the action was taken after continued non-compliance with a formal notice issued to the firm.
The commission added that the premises will remain closed until it is satisfied that all identified breaches have been fully resolved and affected consumers have received appropriate remedies, after which a compliance certification process may be undertaken.
Officials also urged Nigerians to exercise caution and conduct thorough verification before entering into real estate transactions, noting that complaints involving non-delivery of purchased property remain a recurring concern within the sector.
The latest enforcement underscores growing regulatory scrutiny of property development firms in Nigeria, as authorities intensify efforts to protect consumers and enforce contractual obligations within the housing and land investment market.
