The e-Commerce market in Nigeria is worth around $13 billion; according to a report by London based Economist Intelligence Unit (EIU), the National Bureau of Statistics (NBS) predicted that the e-commerce sector is expected to contribute about 10 per cent, of a projected N10trillion, to the nation’s Gross Domestic Product (GDP) by 2018
However, as e-commerce opportunities expand in Nigeria, so does the risk to unsuspecting users and customers.
Upon Presidential Assent, the Electronics Transactions Bill will be an Act to facilitate the use of information in electronic form for conducting transactions in Nigeria. Furthermore, the Bill seeks to provide a legal and regulatory framework for:
(a) conducting transactions using electronic or related media;
(b) the protection of the rights of consumers and other parties in electronic transactions and services;
(c) the protection of personal data; and
(d) facilitating electronic commerce in Nigeria.
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