Internet Fraud affects growth of Online Business in Nigeria


Nigeria’s online letting agency, has stated that online-related fraud has in most cases continued to threaten the growth of online business in Nigeria. The online letting agency based in Lagos, assists people look for apartment houses to rent.

Internet fraud

According to Suleiman Balogun, the co-founder of, the fraud has led to continued disbelief and mistrust concerning online business among the people thus slowing down the growth of the sector.

“It has been a huge challenge to prevent the occurrence of online fraud. For example, most citizens especially the elderly who are persuaded to use our services still show lots of disbelief. They are concerned still about the legitimacy and genuineness of online services hence they end up visiting our offices physically to identify and see the people behind the business before making up their mind to explore the services ,” Balogun further added.

While accepting that the perception is reducing gradually, Balogun also noted: “the online letting agency as a method of tackling the challenge has attempted to live up to the clients’ expectations. To deal with the situation, we make sure that we keep our promises to our customers since one bad experience from a customer can spread easily causing mistrust and discontent among other users.

“The company using its platform has significantly affected the letting space within Nigeria as it has assisted many Nigerians solve their accommodation needs in a convenient manner and in a short period.” whose daily web traffic is over 25,000 has a team that continues to concentrate on offering transparency in apartment rental process in addition to facilitating easy access to accessible properties and basic information required to make the right decisions.