It is very difficult running online business from Nigeria with regard to receiving money.

I try using PayPal Nigeria to process orders in my Shopify and Woocommerce stores.
But kept getting error message that my purchase can not be completed at this time.

Then I decided to contact PayPal regarding the issue.
Now see what PayPal said below.

"We truly appreciate your interest in using the PayPal service to receive money. At this time, the receive money service is still unavailable in Nigeria due to our compliance with your local financial regulations. I hope you understand that we need to comply with your local financial regulations in order to continue providing online payment service in your country"

From reply from PayPal, I think it is no longer PayPal that is restricting PayPal Nigeria from receiving money. But our government.

So I want use this platform to appeal to the federal government to please allow PayPal to enable the "Receive Money" feature of PayPal Nigeria.

This will make life easy for us that are doing genuine businesses online in Nigeria.

Cc@Lalasticlala
@Dominique
@Seun

Pls i want to pay for a course online and am directed to use PayPal, can somebody help me on how to go about it.. Tx

ecosystm:
Pls i want to pay for a course online and am directed to use PayPal, can somebody help me on how to go about it.. Tx

A trusted and reliable exchanger can help you to do that.

It is not the government that is blocking paypal, it is paypal that does not want us because of the activities and glorification of Internet scamming amongst other things

CosmicJames:
It is very difficult running online business from Nigeria with regard to receiving money.

I try using PayPal Nigeria to process orders in my Shopify and Woocommerce stores.
But kept getting error message that my purchase can not be completed at this time.

Then I decided to contact PayPal regarding the issue.
Now see what PayPal said below.

"We truly appreciate your interest in using the PayPal service to receive money. At this time, the receive money service is still unavailable in Nigeria due to our compliance with your local financial regulations. I hope you understand that we need to comply with your local financial regulations in order to continue providing online payment service in your country"

From reply from PayPal, I think it is no longer PayPal that is restricting PayPal Nigeria from receiving money. But our government.

So I want use this platform to appeal to the federal government to please allow PayPal to enable the "Receive Money" feature of PayPal Nigeria.

This will make life easy for us that are doing genuine businesses online in Nigeria.

Cc@Lalasticlala
@Dominique
@Seun

The problem might be Bihari

He probably wants it that way to prevent illicit funds entering the country.

Allowing it will kick the likes of Western Union and Money gram out of business.

ecosystm:
Pls i want to pay for a course online and am directed to use PayPal, can somebody help me on how to go about it.. Tx

Go to PayPal.com and create free account and link your Gtbank card or Access bank Visa card to it and make your payment and after that you will continue using it all your life. Please don't go for exchanger because you don't need them, you will pay higher or get swindle by the exchanger. So do it yourself

Linzo:

Go to PayPal.com and create a free account and link your Gtbank card or Access bank Visa card to it and make your payment and after that, you will continue using it all your life. Please don't go for exchanger because you don't need them, you will pay higher or get swindle by the exchanger. So do it yourself

Will I be able to receive funds from third parties through the Nigerian GTBank linked Paypal account or you just jumped o this thread for jumping sake?

tshege:



Will I be able to receive funds from third parties through the Nigerian GTBank linked Paypal account or you just jumped o this thread for jumping sake?

Bros, you actually said you want to pay for a course.
Or do you mean to say that you want to receive money with a course?

grandstar:


The problem might be Bihari

He probably wants it that way to prevent illicit funds entering the country.

Which one is better?
Stopping fund from entering into the country and allowing fund to go out?

Or allowing fund to enter the country and stopping fund from going out?

CosmicJames:

Which one is better?
Stopping fund from entering into the country and allowing fund to go out?

Or allowing fund to enter the country and stopping fund from going out?

Research has persistently found out that country's that make it easy to bring in and take out forex build confidence in investors and are rewarded with lots of forex. Stopping funds from going out is symptomatic of a lack of confidence.

I am not using head knowledge here with you but pure economic facts.

grandstar:


Research has persistently found out that country's that make it easy to bring in and take out forex build confidence in investors and are rewarded with lots of forex. Stopping funds from going out is symptomatic of a lack of confidence.

I am not using head knowledge here with you but pure economic facts.

Good analysis.
Now, can you please tell me what stopping fund from coming in is symptomatic to?

I mean what kind of economic principle is that?

CosmicJames:

Good analysis.
Now, can you please tell me what stopping fund from coming in is symptomatic to?

I mean what kind of economic principle is that?

When funds refuse to come in or are not coming in as much as they should, it is usually a sign of poor investor/business confidence.

It is also symptomatic of bad government policies.

A case in point is the pegging of the Naira in 2015 by Buhari

Currency are best determined by market forces.

If the quantity of forex flowing into your country, your currency is expected to appreciate.

If the quantity is reducing, the value is expected to depreciate.

From around June 2014, the Naira started to depreciate as the oil price began a rapid fall from around $100. It went from 150/$1 to around 170/N1 by August. By February 2015, it has touched 200/N1 as I remember changing money then. The rate went up slightly after the election but later declined a bit

By May 2016 when Buhari took over it was around 197 at the official rate.

Upon assumption of office, Buhari hijacked the CBN ability to determine exchange rate policy and fixed the exchange rate at 197/$1

This made no sense as the oil price which was the country's primary source of foreign exchange was dwindling fast. Buhari famously said he did not believe in devaluation, that he does not know any country where it has proven beneficial.

It is like saying, " I dont like that 1 + 1= 2, I don't know where it has benefited anyone!"

Whether you like it or not, 1 + 1 = 2.

Likewise, you can not defy market forces and win.

Soon enough, the CBN could no longer meet forex demand at 197 and those who couldn't get forex requested for turned to the black market.

Before this time, the price difference between official and black market was rarely more than 5%. Soludo had liberalised the market to ensure that there was very little difference between the official and black market rate. Sanusi said it should never be more than 3% as anything higher than this encourages round tripping.

Because of the shortage of forex at the official market, the rush to the black market became a flood and a big disparity began to appear bwtween the 2 markets. There was a time the official rate was 197 and the black market 340. This was a round trippers paradise where someone buys at the official rate and sells at the black market and makes good money

The scarcity of forex deprived companies of much needed dollars to buy raw materials and machinery and companies began to close down in large numbers eventually leading to an unnecessary recession.

Soludo, Utomi and Sanusi all condemned Buhari's forex policies. Also, the Organised Private Sector. condemned these policies

https://thewillnigeria.com/news/lamido-sanusi-laments-buharis-economic-policies/

http://thenationonlineng.net/soludo-knocks-buharis-economic-policies/

Since 2017, there's has been a partial liberalisation of the forex market hence espacially the exchange rate. It is no longer pegged at 197 but 310 at the official rate even though currently there are 5 multiple rates the country runs. It should only be one rate though

grandstar:


When funds refuse to come in or are not coming in as much as they should, it is usually a sign of poor investor/business confidence.

It is also symptomatic of bad government policies.

A case in point is the pegging of the Naira in 2015 by Buhari

Currency are best determined by market forces.

If the quantity of forex flowing into your country, your currency is expected to appreciate.

If the quantity is reducing, the value is expected to depreciate.

From around June 2014, the Naira started to depreciate as the oil price began a rapid fall from around $100. It went from 150/$1 to around 170/N1 by August. By February 2015, it has touched 200/N1 as I remember changing money then. The rate went up slightly after the election but later declined a bit

By May 2016 when Buhari took over it was around 197 at the official rate.

Upon assumption of office, Buhari hijacked the CBN ability to determine exchange rate policy and fixed the exchange rate at 197/$1

This made no sense as the oil price which was the country's primary source of foreign exchange was dwindling fast. Buhari famously said he did not believe in devaluation, that he does not know any country where it has proven beneficial.

It is like saying, " I dont like that 1 + 1= 2, I don't know where it has benefited anyone!"

Whether you like it or not, 1 + 1 = 2.

Likewise, you can not defy market forces and win.

Soon enough, the CBN could no longer meet forex demand at 197 and those who couldn't get forex requested for turned to the black market.

Before this time, the price difference between official and black market was rarely more than 5%. Soludo had liberalised the market to ensure that there was very little difference between the official and black market rate. Sanusi said it should never be more than 3% as anything higher than this encourages round tripping.

Because of the shortage of forex at the official market, the rush to the black market became a flood and a big disparity began to appear bwtween the 2 markets. There was a time the official rate was 197 and the black market 340. This was a round trippers paradise where someone buys at the official rate and sells at the black market and makes good money

The scarcity of forex deprived companies of much needed dollars to buy raw materials and machinery and companies began to close down in large numbers eventually leading to an unnecessary recession.

Soludo, Utomi and Sanusi all condemned Buhari's forex policies. Also, the Organised Private Sector. condemned these policies

https://thewillnigeria.com/news/lamido-sanusi-laments-buharis-economic-policies/

http://thenationonlineng.net/soludo-knocks-buharis-economic-policies/

Since 2017, there's has been a partial liberalisation of the forex market hence espacially the exchange rate. It is no longer pegged at 197 but 310 at the official rate even though currently there are 5 multiple rates the country runs. It should only be one rate though

Bro, your head dey there!
Practically, most if not all Buhari's policies are against us. Even nature does not support this kind of principle!

why use other countries PayPal verified account like US or other African countries