Business
Stakeholders Lament Online Shopping Hiccups
Stakeholders in Nige
rian business community have expressed dissatisfaction over seeming challenges that have been recorded on the on-line shopping, especially as they relate to fraud.
The stakeholders alleged that some Nigerians who are eager to shop online are usually, faced with a number of challenges especially as they relate to frauds.
Speaking to Journalists on the online business, Ijeoma Agu, an Enugu-based lawyer, expressed reservations about online shopping, alleging that some of the articles of trade might not look as good as they were portrayed online.
“Most online products usually do not appear the way they look on the internet after delivery, it is a way of deceiving people to buy goods that have stayed long on the shelf”, she said.
Similarly, Mr Paschal Okafor, a website development consultant, said that most Nigerians who were eager to shop on-line usually faced a number of challenges.
He noted that the major challenge related to the erroneous stereotype of Nigerians as fraudsters, pointing out that this had led to rejection of debit/credit cards with Nigerian addresses by some online shopping stores.
“Even when your debit/credit card is accepted, a long chain of verification processes follows, especially for a first-time shopper.
“This can be very frustrating to Nigerian Online shoppers, but it is a cross we will have to carry for now unless, of course, we re-brand,” Okafor said.
One other major complaints of the people about the e-commerce is the problem relating to network failure, which according to Humphrey Oti, an estate surveyor, can cause delay or failure in transaction.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
