The very first consideration Nigerians have when it has to do with a PayPal account in Nigeria is the question of whether PayPal is banned & working in Nigeria.
Yes, PayPal does work in Nigeria but there is a twist to it. I mean, you can open a PayPal account right here in Nigeria, but you know what?
You can only send & use the account to make online purchases but can’t receive or withdraw funds to your Nigeria bank account.
In this guide today, we will explore why PayPal was banned in the first place, the agitations for a change, how it works, and finally, how Nigerians can operate a PayPal account in Nigeria.
Also, we will discuss the PayPal & FlutterWave collaboration to allow Africans and Nigerians to accept and send funds for their online businesses.
PayPal in Nigeria Video Review
We made an awesome video that takes you on the core reasons Nigerians can’t and can operate a PayPal account. See below to watch the video.
Is PayPal banned in Nigeria? The Whole Story
Yes, PayPal has always been banned in Nigeria due to big-time fraudulent cases which were recorded by Nigerians. These scams spread across email phishing, hijacking, and all sorts of fraud cases associated with it.
CNBC calls these scams the ‘Nigerian prince’ email scams.
According to the report which was in 2019, it reads that Nigerian prince’ email scams still rake in over $700,000 a year.
And $700,000 is so much money in Nigeria — N315,000,000. Enough to leave a comfortable life in the next 15 years.
The Journey to Allowing PayPal in Nigeria
In the year 2014, Nigerians wrote a petition on Change.org which was signed by over 1,500 before its closure, stating that PayPal should allow Nigerians to receive PayPal funds.
While this petition was popular in 2014, the truth is, this had an effect on the success of when PayPal will start working in Nigeria.
And yes, in 2014, you could easily operate a PayPal account using the Nigerian IP address, but the problem was that there was no way you were going to receive or withdraw the funds.
The big question is. Can you still receive funds today using a Nigerian IP address-operated PayPal account? The answer is Yes, but not with the Nigerian version of PayPal.
Now, if you go to PayPal Nigeria homepage, you can see from the drop-down menu that you can only send funds using your PayPal account, which means you can only shop with it and send other merchants payments but not receive it.
Compare this to a country like Kenya where you can send and receive payments.
To digital entrepreneurs, freelancers, and Bloggers in Nigeria, this was and has always been a nightmare, to be frank.
PayPal in Nigeria with Flutterwave
In the month of March 2021. Nigerians and other African countries receive one of the best news which was that they could now easily accept and make payments.
While the news with Flutterwave is great, the fact still receives that you can’t operate this account independently without third parties messing around with so many fees and to scale on.
But there is a silver lining in between. And the big question is, can I get a PayPal account in Nigeria?
Getting a Verified PayPal account in Nigeria
Yes, you can now get and open a verified PayPal account in Nigeria that sends and receives funds using the Business account version of any country as against the personal account with a Nigerian IP address.
There are a lot of countries you can operate a legit PayPal account from in Nigeria whether trying to fake anything. All legitimate for legal online business transactions.
How does PayPal work in Nigeria?
To operate a PayPal account in Nigeria, you have to use your IP account and open a Business account, verify it with real information, and lastly transaction with it (send & receives funds + withdrawal to Naira).
Here are the steps to how it works.
Step 1. Open an account.
The very first step to how PayPal works is using your real IP address to open a Business account using an African country or others.
Step 2. Verify with real Information.
You need to verify your account with your email account using your real information.
Here, you need to be careful. And I mean. Do not fake anything when it has to do with PayPal. Why?
If you use fake information, as you continue to use your account, you will be asked to provide valid information to further verify your account. Wherefore, if you had used the wrong information you will be found wanting, and on the verge of being permanently banned or locked funds.
Step 3. Transact with it.
With your PayPal account fully verified, you are now free to transact with it. That is, send and receive funds in and from the account.
Step 4. Withdraw Funds to a Nigerian bank account
With a verified account using your bank card, you can easily withdraw PayPal Funds to your Nigerian bank account.
Using a Business vs Personal account in Nigeria
When it comes to these 2 accounts, they all have their cons and pros.
In the next lesson, we shall focus on why you might need a Personal account against a Business account and vice versa.
FAQ — Do I need to use a VPN to open a PayPal account in Nigeria?
As a Nigerian, you do not need to use a VPN to operate a workable PayPal account unless the account is from Tier 1 countries.
Apart from that, an ordinary account using an African version gets it working easy-peasy.
A Final note on how PayPal works in Nigeria
A lot of Nigerians have been using PayPal for Edges now, even when it was banned in Nigeria using different tactics.
But with the current situation, you can easily operate and open a PayPal account in Nigeria without having to change your IP address to another country.
In the next guide, we shall explore which of the PayPal accounts you need as a Nigeria; business or Personal, and from which country…
That’s all for today with BureauSoke.
P.S: Want to see how to withdraw PayPal Funds at N460+ per US Dollars? Start from here.
