Online Payment in Nigeria: Is It Really Safe?

Nigeria is scaling new heights in banking and online marketing. Virtually all the banks in Nigeria now make online transaction available to their clients. You can make purchase online via your bank ATM card, be it MasterCard, verve or visa card. You can buy airtime for your mobile device directly from your bank account.

online payment

You can place orders for goods and services online and pay with your ATM card on online payment portals.

These are great innovations and make life very easy for Nigerians. It connects Nigeria through World Wide Web to the rest of the world and makes it easy for Nigerians to transact business both locally and internationally.

Be that as it may, what is the assurance that internet banking or online business transaction is safe?  This write up will look into how really safe online payment in Nigeria is.

How safe is online payment in Nigeria

Truth is everything that has positives will also be accompanied by certain negatives.  Scammers and online fraudsters are always making efforts on daily basis and devising new ways of carrying out their nefarious activities.  Even if a system is thought to be safe, they can always device new ways of penetrating into such a system.

These fraudsters have made incursion into online banking too. The ease brought by online payment also brings ease for criminals. Some of the possible ways via which these fraudsters can rob you online will be highlighted below.

ATM card theft

Today, scammers are on the lookout for ATM cards to steal. Once they steal the card, they can make online transactions using your details. No online payment platform asks for your secret code when making payment; they only ask for the last set of numbers on your ATM card. Anyone who steals the card will easily have access to the last four digits and be able to rob you.

Phone theft

If you are the type that links your phone number with your bank account and you lose the phone, you stand a good chance of also losing your money. How? The person who stole the phone can transfer all the money in your bank account to your phone as airtime and transfer same to his/her bank account.

Do not forget that banks do not demand for secret pin before you buy airtime from your bank account. It is therefore a freeway for fraudsters if they can lay their hands on your phone.

Phishing emails

This is a special kind of mail that seems to come from a reliable source; in real sense of it, the source is never reliable. In such mail, you will be asked to click on a link and provide certain information.

Clicking on such links will only reveal every personal detail you might have stored in your mailbox, including your email password, credit/debit card details and financial transaction information.


Never shop on a site if you are not sure of how secured that site is. Make sure you check the viability of a website before you provide your financial information on such a site. In fact, you should be very wary of providing your payment information on any site.

Any site that insists on getting your financial details should be avoided if you find such site unreliable.


1 thought on “Online Payment in Nigeria: Is It Really Safe?”

  1. I usually used to be scared of online payments until I got to realize that it is just an amazing way to make a payment, send, and transfer funds! There may be cases of online frauds but online payments are still the best payment methods. Well, I was doing some research and this got me here. With this, I say a big thanks for the relevant information that you have here. Thanks!
    Check this out;

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