Value Of Electronic Transactions Hit N48.9tr In Nigeria

Although, it is still plagued by inadequate levels of awareness, poor banking culture, lack of trust and a love for the status quo, the value of e-transactions recorded in 2015 hit N48.93 trillion, up by 11.6 per cent from 2014 in Nigeria.

This disclosure was contained in a White Paper report titled “Africa on the Verge (AoV) Convergence Series”, put together by AfricaPractice, a strategy and communications consultancy firm, with offices in Nigeria and abroad. A copy was made available to The Guardian.

The report, which observed that the establishment of the e-commerce industry has taken place as the wider digital value chain has expanded, with the availability and efficiency of e-payments becoming a crucial load bearing segment, observed that based on the significant link between the e-commerce and e-payments sectors, an adoption of similar advocacy methods supported by favourable government policies could help customers feel protected when electronically purchasing goods and services.

While noting that there has been a rise in the number of firms providing these services (e-Commerce and e-Payments) in Nigeria the report said “the value of e-transactions recorded in 2015 hit N48.93 trillion, up by 11.6 per cent from 2014.”

According to it, the Nigerian retail sector is evolving fast, with the emergence of large, modern malls arriving at the same time as Internet-hosted markets that are linking businesses to consumers without the need for physical movement or interaction by the customer.

The report observed that the traditional markets, where the vast majority of Nigerians have historically purchased goods, have not embraced modernization. “Local shopping centres are often large open spaces with poor physical infrastructure – lacking even the most basic amenities and services while being over crowded, chaotic and hectic. Such deficiencies in Nigeria’s traditional markets have set the scene for the opportunities and growth currently being enjoyed by both the modern malls, and fast emerging and growing e-commerce industry.

“Developing trust in the e-commerce and online transaction space is a difficult task as most citizens are wary of online platforms due to the high rate of cyber-crime. Nigeria is consistently amongst the 20 nations most prone to online criminal activity, according to a recent report developed by Check Point Software Technologies Ltd. However, this distrust comes mostly from those unable to weigh the disadvantages against the advantages of online transactions because of a lack of access to information about online security investments and protocols and how they protect the consumer”, it added.

Credit: Guardian

Nigerians Will Value Jonathan In Future, Says Ex Minister

Erstwhile Minister of Police Affairs, Alaowei Broderick Bozimo, has described the outgoing president Goodluck Jonathan as a hero of democracy, saying that Nigerians will in distant time value him for his love and sacrifice for the country.

Bozimo stated this in Erhowha, Isoko South Local Government Area, Delta State, during the burial of his late father in-law, Chief Ezekiel Ukodie.

According to him, it was wrong to blame the worsening security situation in Nigeria on President Jonathan’s lack of courage or selfish political considerations.

He also said nobody should be held responsible for the acitivities of the Boko Haram sect in the country.

Bozimo, however, flayed the United States for its insincerity to Nigeria in the country’s efforts to muster international support to fight the Boko Haram insurgency.

He said: “You can see what is happening all over the world. I doubt if it is because of economic circumstances. I don’t subscribe to that. When I left (as Police Affairs Minister) in 2007, Boko Haram had just started rearing its ugly head. They were coming in from the Borno axis and I visited there. They burnt down police stations.

“We thought it wasn’t serious or that it was a passing thing, we did the best to arrest the situation. So, I don’t think it is about unemployment”.

Read Moredailypost