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CBN’s cashless policy facilitates emergence of e-Commerce—Adibba CEO

By Princewill Ekwujuru
The cashless policy drive embarked upon by the Central Bank of Nigeria, CBN has facilitated the emergence of e-commerce in Nigeria, says the Chief Executive Officer of Adibba.com, an Online shopping mall.
The CEO,  David Allison, who valued online shopping business in Nigeria at billions of dollars, disclosed that  Online shopping business is being facilitated by CBN’s cashless policy.

“With the new cashless policy being gradually implemented in Nigeria, things are looking up. People are getting warmer towards the idea of doing transactions online with several platforms springing up” he told Journalist recently.

Allison calculated that Nigeria is over 50 percent ready for e-commerce. He said though there are scepticisms about e-payment solutions but the business is growing and will grow as there are over 300 registered e-commerce sites presently.

“As more people get enlightened on the business, it will reduce the burden of doubts”, he said.
Allison who recognised that e-Commerce market in Nigeria is relatively new said Adibba.com which is a Nigerian owned company launched in September 2013 is a platform  borne out of the desire to satisfy ever growing needs of shoppers. “Our Product categories vary from electricity solutions to fashion, phones, computer and electronics, food and drinks, games, toys and kids and Africana.

“We are in the market to make every day experience extra-ordinary. We go that extra steps to make the customer feel satisfied and it is working for us”, Allison said.
Allison assured that products purchased from Adibba are authentic; because it is in partnership with top manufacturers of different products, however Adibba, he said operates full money-back guarantee.

“If goods are delivered and the customer is not happy with it, it could be returned and the customer gets his/her money at no condition”
Recently it was  reported  that total investment in Nigeria’s online shopping market by both local and foreign investors is worth over $15 million (about N2.4 billion) with analysts predicting that the figure will double in 2014 as more investors see opportunity in the new sector.

Market watchers who assessed the growing industry strongly, believe that more online businesses will open in Nigeria in the next few months signaling a belief in the Nigerian economy.


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