Nigerian Regulator Seals Property Firm Over Undelivered Land Plots
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A Nigerian real estate company has been shut down by regulators after buyers allegedly paid for land they never received. The case highlights growing scrutiny of consumer protection failures in the property sector.
Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has sealed the office of PWAN Max Property and Business Solution Limited over allegations that the company failed to allocate land plots that subscribers had fully paid for in Lagos.
Regulators say the enforcement action followed multiple investigations, compliance notices, and missed deadlines after consumers lodged formal complaints.
According to the FCCPC, the company allegedly agreed to allocate the plots and provide title documents but failed to fulfill its commitments despite regulatory intervention.
The commission says the case reflects its broader effort to strengthen accountability and consumer protection within Nigeria’s real estate sector, where disputes over land allocation, project delivery, and refunds continue to affect buyer confidence.
Officials say the office will remain sealed until the company remedies the alleged violations and satisfies regulatory requirements, signaling a tougher enforcement stance toward developers accused of failing to meet obligations to property buyers.
Read the full story at The Guardian Nigeria →