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Serdiek Master

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  1. It is really sad that Nigeria has a bad reputation when it comes to financial dealings and I can say that maybe in the near future the image will change for the better.

  2. It is due to the high level of fraud that is recorded in Nigeria and some other countries.

    But i don’t think that should be enough reasons to barred us from receiving from paypal because some countries in which they allow to receive are also committing fraud.

    so, i think Paypal have the best answers to why they do that to Nigerians.

    But for me i think it is injustice because not all Nigerians are fraudster

  3. As we all know pay pal has been an important and well known means of exchange in business transaction involving outside countries and they have served their purposes over the years.

    They can Be employed to sending and receiving money abroad or used for payment during any transaction..

    I’ve been a user of PayPal for the some times now and it has been serving Me well until recently I began to notice issues with it

    Then I started making my research

    Paypal was initially very hesitant to enter the Nigerian market even though the country is the second largest economy in Africa. Eventually, the company bowed to pressure and entered the Nigerian market in June 2014, but restricted. However, it would be unfair and bias for me to ignore the fact that they had concerns about the increase in internet fraud in Nigeria (hence the restrictions). In the same vein, it would be unfair not to mention that there are a lot of legitimate online business owners who suffer due to the generalized blacklisting of Nigerians by Paypal. By now you are probably assuming that I am hell bent on making accusations, I would now take a bend and state clearly the reasons why I think Paypal sucks.

  4. Not too long ago, a question was asked concerning foreign behaviors towards Nigerians online. In the cause of answering the question, I made a point on online frauds which I stated was one of the major reasons why foreigners frown and take extra caution when dealing with most Nigerians online. I think my point on that question still remains the major reason why Nigerian is on the list of PayPal restricted countries.

    As you may already know, Nigeria ranks high on the list of online frauds. And the most popular scheme coming from Nigerians is the Yahoo boys saga. These sets of individuals or groups have gone to an extra length in giving Nigeria a bad reputation online. They stop at nothing in scamming unsuspecting individuals especially foreigners of their hard end money.

    Paypal on the other hand is the oldest and most reputable online payment system in the world. So it’s no surprise that a vast majority of monetary transactions online are done with PayPal, including scams. As the level of online frauds began to increase and the application of PayPal system used in receiving certain scammed funds, PayPal began investigation and flagging most countries with high level of financial fraudulent activities. It’s so happens that Nigeria was one of them. And as such, PayPal decided to halt all services giving to Nigerian registered accounts as well as other countries with high level of online frauds. It took a while before paypal restored operations in those flagged countries, Nigeria included. But they still decided to give limited services to those countries. That’s why Nigerian registered paypal accounts can’t receive funds.

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