LEGAL CONNECT: E-COMMERCE IN NIGERIA - Part 1

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It is no longer news, that there has been a phenomenal increase in the amount of internet users in Nigeria. In the same vein, the number of online financial transactions has largely increased over the years. As at 2008, there was a 90% increase in the number of Nigerian internet users from the year 2001.

Businesses in the country have taken their means of communicating and trading with their consumers to the online space.

Through the e-commerce industry, the country has revolutionized the mode of business transactions by providing consumers with the ability to bank, invest, purchase, distribute, communicate, and explore anytime and anywhere access to the internet is available.

Nigeria has integrated the electronic payment system into its financial system, a step that has reduced the flow of physical cash in the economy. There has also been large encouragement of #electronicbasedtransactions, which is largely due to the effects of #Globalization with the emerging growth of e-commerce, Nigeria is fast-approaching an increase in economic growth. Nigeria has been described as the fastest growing telecommunications country in Africa with growth rates reaching an amazing 21,891.1% in 20104, regardless of the fact that less than 60% of the population are active internet users.

What this means is that there is still a growth expectancy of about 40% as regards the internet market in Nigeria. This is important because it shows the need for addressing issues that deal with online contracting, whilst using the internet. It has been argued, that the increase in the usage of the internet has been sporadic and can be much better, but this has stalled because of the reluctance of Nigerians to embrace the online community as a result of lack of trust.

There are various reasons for this lack of trust e.g. the high levels of illiteracy in the country, the fact that there is no express legislation ,Ayo C.K, Adewoye J.O and Oni A.A, Business-to-consumer e-commerce in Nigeria: Prospects and Challenges, African Journal of Business Management, Vol.

The Nigerian legal system was modelled based on the English system. Contracts are basically either simple or specialty contracts. Simple contracts can be concluded in writing, orally or by conduct. Specialty contracts are contracts, which are formed by deed and must be in writing e.g. deed of assignment.

For the purpose of this article, discussions will concentrate on simple contracts concluded electronically. There is as yet no legal basis to form a specialty contract electronically. The main reason is because at the moment, the particular method of execution of a deed cannot be performed electronically.

Since simple contracts can be concluded orally or by conduct, it is submitted that concluding such a contract electronically is only worthwhile if it offers more protection than the other methods of formation. In order to achieve this result, the relevant law must be clear enough to permit such a result. It will be seen below that this is far from true.

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