PWAN Plus Threatens To Sue Social Media Influencer, Scott Iguma, Over Fraud Allegations

• Popular real estate firm PWAN has been the subject of many videos on social media in recent times
• It all started with a viral video of an influencer, Scott Iguma, calling out the company for not keeping its promises to clients
• The company has responded to the allegations from the influencer, and it is set to evolve into a legal battle

Ruth Okwumbu-Imafidon, a journalist with Legit.ng, has over a decade of experience in business reporting across digital and mainstream media.

There is the possibility of a fierce legal showdown between real estate network marketing company, PWAN Plus Business Concerns Limited, and Scott Iguma, a popular social media content creator and property enthusiast.

This is PWAN’s reaction to allegations made by the social media influencer in a series of posts on his handles.

The firm alleged that Iguma has made defamatory statements targeting its brand.

The inside story of how it began

Some months ago, Iguma started making and posting a series of videos on his handles alleging that PWAN was running a well-orchestrated scam to defraud Nigerians of their hard-earned money in the name of selling them properties.

Many of these videos later went viral, triggering a long chain of reactions, and Iguma alleged that many other victims of the company had reached out to him with their story.

In one of the videos, he alleged:

“I am getting this information from people who sell their property to PWAN. This is what they do. They will go to a community in the bush and buy land. For instance, if the land is N50 million, they will pay them N10 million and tell the community or the family that they are going to spread the payment in three or four instalments. The next thing they do is carry their signboard, put it there, and start selling the land.

"If the land is like 100 plots, they will sell it to above 200 people and after they have done that, they will leave the property. The family will start asking them for the balance, PWAN will not respond, and they will not pay. And then the family will have no option but to take that land back from PWAN. So PWAN knows exactly what they rare doing”.

Iguma claimed that all they did was to sell receipts to the victims without allocating properties, and then ignore the innocent victims who patronized them.

He alleged that the firm had been insensitive in handling the matter, with many of the victims now feeling scammed, having nothing but receipts to show for their payment.

Iguma also vowed that he would continue to amplify the voices of the victims until the company either refunded them their money or gave them the land paid for.

His allegations were in line with other media reports about a couple that invested N12 million with the company, and were still unable to get a land or a refund after three 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 all Cedarwood Estates, Prof. Julius Oyedemi, has denied the allegations of fraud.

Oyedemi noted that the firm was considering legal action against the influencer to protect its reputation.

Speaking at a recent press conference at the company’s Corporate Headquarters in Lekki, Oyedemi explained that Cedarwood Park (200 plots) and Cedarwood Gardens (300 plots) were among the first set of estates the company introduced and sold from 2017 to 2018.

He said that before the acquisition, the land was confirmed to be free from any commitment or encumbrances, and the Olorunishola and Alonge families that owned the land were fully paid for it in 2017/18.

“The individual families had also applied for Village Excision which at that time under the immediate past administration in Lagos State was a valid way of securing title on family or communal lands."

The coming of a new administration in 2019 in Lagos state brought some challenges for the company, as the Excision applications were suspended, and the government mapped out Cedarwood Park and Gardens and other properties in the Idera Private Developers’ Scheme.

Oyedemi stated:

“The cost of re-acquiring the lands (which had already been fully paid for, fenced and massively sand filled for a stretch of over 1km because the lands are water-logged) far exceeded the purchase and selling price of the land hence our inability to make any meaningful progress with the process.”

Faced with this challenge, the company communicated to the subscribers and realtors that there was a need to effect swaps to neighbouring estates in line with the indemnity clause in the contracts.

Does PWAN really fail to allocate lands?

Oyedemi insisted that by this time, over 50% of the subscribers had been allocated their lands along with individual survey plans, contrary to Iguma’s allegations that customers only got receipts.

He gave an update on the matter, saying:

“As of today, more than 75 per cent of subscribers in the two estates have either been swapped to better locations in the circumference of Cedarwood Park & amp; Gardens or in the case of their rejection of the swap offer, they have been refunded the full amount they paid for the land. Some of the subscribers we swapped under this arrangement have commenced building in the locations they were reallocated to.”

Oyedemi faulted the influencer for going online without reaching out to the company for a balanced and objective view of the issue.

Oyedemi insisted that PWAN had allocated over 10,000 plots to subscribers from 2017 to 2022, with all the legal documentation and estate titles, and always did its allocations promptly.

Meanwhile, the Securities and Exchange Commission (SEC) is actively protecting Nigerians from fraudulent investments.

This has been particularly 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 investment platforms that are not licensed to operate in Nigeria.

PWAN was one of the companies flagged, and the SEC said the company was not licensed to solicit funds from the investing public.

SEC has also provided a link for Nigerians to always check and confirm the status of a company before investing.

Source: Legit.ng