Enforce-ability of online Contracts in Nigerian Courts
The growth of e‑commerce in Nigeria, bolstered by advances in information and communications technology (ICT), has led to an increasing reliance on online agreements.
The growth of e‑commerce in Nigeria, bolstered by advances in information and communications technology (ICT), has led to an increasing reliance on online agreements.
The dominant barrier to the adoption of technological advancements, like smart contracts, is a cultural challenge in Nigeria. The consistent culture of having knowledge and suffering needs to end, for it is time for adaptation and not just talking.
This legislation establishes a clear legal framework to identify, prohibit, and prosecute illicit activities. Those operating illegal investment schemes may face up to ten years in prison. The law aims to deter fraud and boost investor confidence.