SEC Cautions Nigerians Against Investing in Alleged Ponzi Scheme PWAN MAX
The Securities and Exchange Commission (SEC) of Nigeria has issued a public alert concerning Property World Africa Network (PWAN) and its affiliate, PWAN MAX, labeling their investment solicitation practices as unauthorized and potentially deceptive.
In an official statement, the Commission clarified that neither PWAN nor PWAN MAX holds registration with the SEC, which means they are not legally permitted to solicit funds from the public or function within the Nigerian capital market.
“The Commission wishes to alert the public that PWAN/PWAN MAX are NOT REGISTERED with the SEC to seek investments from the public or to carry out any activities within the Nigerian capital market,” the statement emphasized.
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