A friend tried to transfer money to me today from a Canadian bank and was told expressly that they cannot do that because of “Fraud”.
“Yes, we cannot execute a direct transfer to your country because of Fraud.”
She had to do a Western Union transfer instead.
You cannot accept payments on PayPal from Nigeria too.
Even if your Facebook page has 50m followers, you cannot monetize it unless you give your admin rights to a foreigner. All the content Creators in Nigeria have to part with about 20% of their earnings monthly with a foreign agent who manages their monetized accounts.
To make it worse, you cannot pay for anything above 20 dollars online from your Nigerian card per month. I have pending renewals to do online and can’t because CBN says we are too backward to ride with the rest of the world.
This is the situation in Nigeria yet some people, even some of those who live abroad, think it is ok for this country to continue this way.
Some skit makers make as much as $100,000 monthly and I am not kidding. Yet our country is not looking at how they can approach Facebook to ensure Nigerians can cash out their funds in Nigeria and pay tax to Nigeria but were focused on how they can tax Nigerians advertising on Facebook.
Every skitmaker in Nigeria pays tax to the countries where their agents reside as they have to cash out in that country before sending the money to them in Nigeria.
And there is no magic in demanding Facebook allows monetization in Nigeria. Afterall, Google allows Nigerians payout on YouTube and Adsense.
When we say this government is clueless, it is an understatement. This government is completely blind to innovations and the future.
