PWAN Group Faces Regulatory Scrutiny and Public Allegations: A Timeline of Events"

The PWAN Group has been at the center of controversy since May 5, 2025, when the Securities and Exchange Commission (SEC) labeled PWAN Group and PWAN Max as a 'suspected Ponzi scheme.' This development sparked widespread discussions across the Nigerian real estate sector and raised concerns among investors.

In response to the SEC's announcement, PWAN Group issued a statement on May 9, 2025, denying the allegations and defending its business model. CEO Jayne Onwumere came forward to address the public and investors, emphasizing the company's commitment to transparency and real estate delivery.

However, the controversy took a new turn in late May and June 2025, when social media influencer Scott Iguma made public allegations against PWAN Group. Iguma claimed that the company was engaging in a land scam, duping clients into paying for plots that were never allocated. These allegations quickly gained traction on social media, with many questioning the integrity of PWAN's land offerings.

PWAN Group responded to these allegations on June 23, 2025, by announcing its intention to pursue legal action against Scott Iguma. The company stated that it had consistently delivered land to clients and would present evidence in court to support its integrity.

The situation took another turn on July 17, 2025, when Scott Iguma was arrested by Nigerian authorities. PWAN Group subsequently issued a statement distancing itself from the legal action, emphasizing its respect for the law and commitment to justice being served fairly.

Throughout this period, CEO Jayne Onwumere has been at the forefront of the company's response, addressing the public and investors through various channels. The controversy has raised questions about the company's internal operations and its commitment to ethical business practices.

As the situation continues to unfold, it remains to be seen how PWAN Group will navigate the regulatory scrutiny and public allegations. The company's ability to restore its credibility and protect its brand identity will be closely watched by investors, clients, and industry observers.