Scrutiny of the legal and regulatory framework of e-commerce in Nigeria

Abstract

Technology has contributed significantly to the way business is conducted. Transactions are now being conducted electronically; contracts can now be signed without in-person meetings and payments can be made using internet/electronic gadgets.Inferring from this, there are laws, regulations, and regulatory agencies that govern the electronic commerce space and its many different aspects. In Nigeria, not enough laws are being passed and implemented to regulate and accommodate current technological and commercial realities. This has led to perceived insecurity and uncertainty in the Nigerian cyberspace.The research is carried out using the doctrinal research methodology, involving the use of Nigerian statutes and case laws, journals, online articles, and internet resources. As technology has largely impacted the way electronic commerce is conducted, the different laws which regulate such use of technology in Nigeria are explored. It is the finding of this research that there exist plethora of laws and regulations in Nigeria thatcan be applied to e-commerce. However, these laws are not adequate, they are not contemporaryand the many different laws can be confusing. It is recommended thatrelevant centralised e-commerce lawsbe passed while ensuring that adequate infrastructure is provided for theimplementation and enforcement of these laws.