“Nigeria’s highest currency is the NGN1,000 note (US$6.20) . To buy products such as iPhones, a customer would need about 100 of such just for an iPhone. This is quite large compared to other countries where fewer denominations are needed,” he said.
He added that other challenges the company is facing in Nigeria include trust which he said is still in its early stages in the e-commerce sector.This, he said, was a result of the betrayal of trust in the advent of internet access in Nigeria.“The trust challenge is still there and it was as a result of the actions of those who abused the system during its early days,” he said.He added there is also a challenge with time and place of delivery.
By Paul Adepoju