The Federal Competition and Consumer Protection Commission (FCCPC) yesterday sealed the Lagos office of PWAN MAX Property and Business Solutions Limited over alleged regulatory non-compliance.

The commission’s action stemmed from a consumer’c complaint against the management of PWAN MAX Property and Business Solutions Limited for non-allocation of 20 plots of land fully subscribed to and paid for by the consumer in February 2025.

The FCCPC had initiated an investigation and invited the respondent.

The commission said the property firm declined all invitations, failing to comply with a compliance notice issued under Section 150 of the Federal Competition and Consumer Protection Act (FCCPA) 2018.

Subsequently, the commission carried out the enforcement action invoking its statutory powers under Section 150[4][a] of the FCCPA, which permits the closure of business premises where violations persist after a compliance notice has been ignored.

Speaking during the sealing of the firm’s office, the FCCPC’s Southwest Zonal Coordinator, Mrs. Olubunmi Otti, said the commission launched investigations into the company’s activities in February 2025 after receiving a complaint from a consumer who alleged that 20 plots of land that had been fully paid for were yet to be allocated.

Otti alleged that the company initially failed to honour two invitations from the commission and was subsequently summoned to appear before the agency.

She stated that PWAN MAX later undertook to allocate the 20 plots and provide all necessary documentation to the affected subscribers on or before June 30, last year.

“Following the expiration of the timeline, the commission issued a compliance notice in accordance with Section 150 of the FCCPA, clearly outlining the nature of the breach, the required remedial actions, the compliance timeline and the consequences of non-compliance,” Otti said.

The zonal coordinator stressed that the company’s failure to remedy the breach compelled the commission to invoke its statutory powers under Section 150(4)(a) of the FCCPA, which permits the closure of business premises where violations persist after a compliance notice has been ignored.

“The sealing of the premises will remain in force until the commission is satisfied that the breach has been fully remedied, after which a compliance certificate may be issued,” Otti said.

Beyond the initial complaint, the zonal coordinator said the commission was investigating other petitions against the company over land transactions, investments and allegations of non-allocation of properties paid for by subscribers.

She noted that affected consumers may be entitled to refunds, where necessary, and warned that failure by the company to comply could result in prosecution.

“If they fail to refund the money, the law empowers us to prosecute. We are issuing a summons, and they are expected to appear before the commission within seven days,” she said.

During the enforcement, no staff of the company was found within the premises.

A notice displayed at the entrance and signed by management 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, with normal operations expected to resume on June 15.

The latest enforcement action adds to a growing crackdown by the FCCPC on real estate firms accused of violating consumer rights and failing to honour contractual obligations to property buyers.

Last month, the FCCPC sealed two real estate companies  over alleged refund and property-related complaints by consumers.

The enforcement, which was carried out alongside security operatives, followed by allegations that the companies failed to comply with compliance notices issued by the commission.

Source: The Nation News