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6 hours ago
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- Popular existent property steadfast PWAN has been the taxable of galore videos connected societal media successful caller times
- It each started with a viral video of an influencer, Scott Iguma, calling retired the institution for not keeping its promises to clients
- The institution has responded to the allegations from the influencer, and it is acceptable to germinate into a ineligible battle
Ruth Okwumbu-Imafidon, a writer with Legit.ng, has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.
There is the anticipation of a fierce ineligible showdown betwixt existent property web selling company, PWAN Plus Business Concerns Limited, and Scott Iguma, a fashionable societal media contented creator and spot enthusiast.
This is PWAN’s absorption to allegations made by the societal media influencer successful a bid of posts connected his handles.
The steadfast alleged that Iguma has made defamatory statements targeting its brand.
Source: Getty Images
The wrong communicative of however it began
Some months ago, Iguma started making and posting a bid of videos connected his handles alleging that PWAN was moving a well-orchestrated scam to defraud Nigerians of their hard-earned money successful the sanction of selling them properties.
Many of these videos aboriginal went viral, triggering a agelong concatenation of reactions, and Iguma alleged that galore different victims of the institution had reached retired to him with their story.
In one of the videos, helium alleged:
“I americium getting this accusation from radical who merchantability their spot to PWAN. This is what they do. They volition spell to a assemblage successful the bush and bargain land. For instance, if the onshore is N50 million, they volition wage them N10 cardinal and archer the assemblage oregon the household that they are going to dispersed the outgo successful 3 oregon 4 instalments. The adjacent happening they bash is transportation their signboard, enactment it there, and commencement selling the land. "If the onshore is similar 100 plots, they volition merchantability it to supra 200 radical and aft they person done that, they volition permission the property. The household volition commencement asking them for the balance, PWAN volition not respond, and they volition not pay. And past the household volition person nary enactment but to instrumentality that onshore backmost from PWAN. So PWAN knows precisely what they uncommon doing”.Iguma claimed that each they did was to merchantability receipts to the victims without allocating properties, and past disregard the guiltless victims who patronized them.
He alleged that the steadfast had been insensitive successful handling the matter, with galore of the victims present feeling scammed, having thing but receipts to amusement for their payment.
Iguma besides vowed that helium would proceed to amplify the voices of the victims until the institution either refunded them their wealth oregon gave them the onshore paid for.
His allegations were successful enactment with different media reports astir a couple that invested N12 million with the company, and were inactive incapable to get a onshore oregon a refund aft 3 years.
PWAN reacts to the allegations
According to the Daily Sun, the Managing Director and Chief Executive Officer of PWAN Plus Business Concerns Ltd, owners of each Cedarwood Estates, Prof. Julius Oyedemi, has denied the allegations of fraud.
Oyedemi noted that the steadfast was considering ineligible enactment against the influencer to support its reputation.
Speaking astatine a caller property league astatine the company’s Corporate Headquarters successful Lekki, Oyedemi explained that Cedarwood Park (200 plots) and Cedarwood Gardens (300 plots) were among the archetypal acceptable of estates the institution introduced and sold from 2017 to 2018.
He said that earlier the acquisition, the onshore was confirmed to beryllium escaped from immoderate committedness oregon encumbrances, and the Olorunishola and Alonge families that owned the onshore were afloat paid for it successful 2017/18.
“The idiosyncratic families had besides applied for Village Excision which astatine that clip nether the contiguous past medication successful Lagos State was a valid mode of securing rubric connected household oregon communal lands."The coming of a caller medication successful 2019 successful Lagos authorities brought immoderate challenges for the company, arsenic the Excision applications were suspended, and the authorities mapped retired Cedarwood Park and Gardens and different properties successful the Idera Private Developers’ Scheme.
Oyedemi stated:
“The outgo of re-acquiring the lands (which had already been afloat paid for, fenced and massively soil filled for a agelong of implicit 1km due to the fact that the lands are water-logged) acold exceeded the acquisition and selling terms of the onshore hence our inability to marque immoderate meaningful advancement with the process.”Faced with this challenge, the institution communicated to the subscribers and realtors that determination was a request to effect swaps to neighbouring estates successful enactment with the indemnity clause successful the contracts.
Does PWAN truly neglect to allocate lands?
Oyedemi insisted that by this time, implicit 50% of the subscribers had been allocated their lands on with idiosyncratic survey plans, contrary to Iguma’s allegations that customers lone got receipts.
He gave an update connected the matter, saying:
“As of today, much than 75 per cent of subscribers successful the 2 estates person either been swapped to amended locations successful the circumference of Cedarwood Park & amp; Gardens oregon successful the lawsuit of their rejection of the swap offer, they person been refunded the afloat magnitude they paid for the land. Some of the subscribers we swapped nether this statement person commenced gathering successful the locations they were reallocated to.”Oyedemi faulted the influencer for going online without reaching retired to the institution for a balanced and nonsubjective presumption of the issue.
Oyedemi insisted that PWAN had allocated implicit 10,000 plots to subscribers from 2017 to 2022, with each the ineligible documentation and property titles, and ever did its allocations promptly.
Source: Getty Images
Meanwhile, the Securities and Exchange Commission (SEC) is actively protecting Nigerians from fraudulent investments.
This has been peculiarly heightened since CBEX crashed in April 2025, with trillions of naira belonging to investors.
PWAN is not licensed to solicit investments - SEC
In related news, the SEC has flagged 10 concern platforms that are not licensed to run successful Nigeria.
PWAN was 1 of the companies flagged, and the SEC said the institution was not licensed to solicit funds from the investing public.
SEC has besides provided a nexus for Nigerians to ever cheque and corroborate the presumption of a institution earlier investing.
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Source: Legit.ng
