Recent revelations have spotlighted the troubling saga surrounding Property World Africa Network (PWAN) Homes, accused of defrauding Nigerians and exploiting legal systems to silence critics. Eleven years ago, PWAN collected ₦906,000 from a Lagos couple for land allocation, a promise that remains unfulfilled to this day. Instead of accountability, the company has reportedly used courts to detain activist Scott Iguma, who courageously exposed PWAN’s fraudulent activities.
PWAN’s alleged misconduct goes beyond delayed land allocation. The Securities and Exchange Commission (SEC) officially branded PWAN and its affiliate PWAN MAX as fraudulent Ponzi schemes earlier this year, warning the public of their unauthorized solicitation of funds and the company’s failure to honor withdrawal requests. The SEC’s findings detailed classic indicators of Ponzi operations, including promises of unusually high returns with no proper documentation or delivery of land assets.
Efforts by PWAN to counter these allegations have been met with mixed responses. The company has vehemently denied involvement in Iguma's arrest and claims to possess proper documentation for some estates, such as Cedarwood Park and Cedarwood Gardens. PWAN officials have also accused Iguma of spreading malicious falsehoods and reiterated their commitment to resolving outstanding land titles and investor refunds. However, independent investigations and numerous client testimonies reveal that many subscribers still await land allocation or refund after years, with some estates plagued by poor or incomplete documentation and government acquisition complications.
Attempts to question PWAN publicly have also drawn hostility; when journalist Adesuwa Osagie probed the company’s contradictory claims on Arise TV, she reportedly faced threats a disturbing indication of intimidation tactics aimed at suppressing critical scrutiny.
This situation illustrates a broader, alarming trend in Nigeria where corporate fraud appears protected, and the justice system is weaponized against whistleblowers and activists striving for transparency. The jailing of Scott Iguma a vocal advocate exposing these scams signals a dangerous precedent that discourages civic engagement and consumer protection efforts.
Nigerians are urged to exercise extreme caution with PWAN, an entity whose operations have been officially denounced by regulatory authorities and whose reputation is marred by unresolved land sales, missed documentation, and alleged harassment of critics. The pattern of selling mere receipts instead of guaranteed land, coupled with threats against those who speak out, renders PWAN a high-risk enterprise.
This case underscores the urgent need for strengthened enforcement of property rights, enhanced protections for activists and journalists, and vigilant consumer education to prevent further exploitation. It is imperative that the government, regulators, and the judiciary ensure that PWAN and similar companies are held accountable, and that victims receive restitution without fear of retaliation.
In conclusion, PWAN’s record reveals persistent corporate fraud, consumer exploitation, and systematic intimidation deserving of public condemnation. The welfare of countless Nigerians depends on exposing such abuses and demanding justice lest more lives and livelihoods fall prey to these ongoing scams.
