<h4>The Public Is Strongly Advised To Be Wary About Investing With PWAN</h4>
<p><strong><a href="https://openlife.ng/">OpenLife Nigeria</a> </strong>reports that the Securities and Exchange Commission (SEC) has alerted the public on the activities of Property World Africa Network (PWAN), which holds itself out as a real estate investment company and solicits funds from the public for investment purposes through PWAN MAX.</p>
<p>In a statement on Tuesday, the SEC said PWAN/PWAN MAX are not registered either to solicit investments from the public or operate in any other capacity within the Nigerian capital market.</p>
<p>The SEC said investigations revealed that PWAN’s operations exhibit the typical indicators of a fraudulent Ponzi scheme, including the promise of unusually high returns and failure to honour withdrawal requests from subscribers.</p>
<p>“Accordingly, the public is strongly advised to be wary about investing with PWAN/PWAN MAX, as any person who places such <a href="https://guardian.ng/">investment</a> with these entities, does so at his/her own risk.</p>
<p>“The commission similarly reminds potential investors of the need to verify the registration status of investment platforms via the commission’s dedicated portal: www.sec.gov.ng/cmos before transacting with them,” the SEC said.</p>
<p><em>Source: The Guardian</em></p>

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