PAYPAL IS NOW AVAILABLE TO NIGERIANS

Photo Credit: Reuter

 

The largest online payment processor, Paypal has announced their entry to 10 new countries this week in which Nigeria is one of them.

The report from Reuter read:

PayPal is entering 10 new countries this week, including Nigeria, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud.
Rupert Keeley, the executive in charge of the EMEA region of PayPal, the payments unit of eBay Inc, said in an interview on Monday the expansion would bring the number of countries it serves to 203.
Starting on Tuesday, consumers in Nigeria, which has 60 million users and has Africa's largest population, along with nine other markets in sub-Saharan Africa, Eastern Europe and Latin America will be able to make payments through PayPal.
"PayPal has been going through a period of reinvention, refreshing many of its services to make them easier to use on mobile (phones), allowing us to expand into fast-developing markets," Keeley said.
Once the services go live, customers in the 10 countries with access to the Web and a bank card authorized for Internet transactions will be able to register for a PayPal account and make payments to millions of sites worldwide.
Initially, PayPal is only offering "send money" services for consumers to pay for goods and services at PayPal-enabled merchant sites while safeguarding their financial details. This is free to consumers and covered by fees it charges merchants.
"We think we can give our sellers selling into this market a great deal of reassurance," said Keeley, a former regional banking executive with Standard Chartered Plc and senior executive with payment card company Visa Inc.
PayPal does not yet cover peer-to-peer transactions, which allow consumers to send money to other consumers. It has not yet enabled local merchants in the new markets to receive payments, nor is it offering other forms of banking services, he said.
A 2013 survey of 200 UK ecommerce sites by Visa's CyberSource unit estimated that 1.26 percent of online orders are fraudulent and that 85 percent of merchants expected fraud to increase or remain static last year.
CyberSource also estimated that suspicion of fraudulent transactions result in 8.2 percent of online orders in Latin America being rejected by merchants, compared with 5.5 percent in Europe and 2.7 percent in the United States and Canada.
Such fraud can include ID theft, social engineering, phishing and automated harvesting of customer financial data via botnets, or networks of computers controlled by hackers.
A total of 80 million Internet users stand to gain access to PayPal global services this week, including those in five European markets - Belarus, Macedonia, Moldova, Monaco and Montenegro, four in the African nations of Nigeria, Cameroon, Ivory Coast, and Zimbabwe, as well as Paraguay. Internet usage figures are based on research by Euromonitor International.
PayPal counts 148 million active accounts worldwide.
Last week, MasterCard Inc, the world's second-largest debit and credit card company, and a PayPal rival in payment processing, said it was working with the Nigerian government on a pilot to overlay payment technology on a new national identity card.
PayPal has operated in 190 markets since 2007 and added three countries - Egypt, Georgia and Serbia last year. Roughly a quarter of the $52 billion in payment volumes PayPal reported in the first quarter of 2014 were for cross-border transactions. PayPal reported $1.8 billion in revenue during the period.

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MONEY SHOWBIZ BY A BAUCHI STATE POLITICIAN'S SON

A prominent Bauchi state Politician's son showing off his father's wealth.

These monies must have drawn from public funds.

These monies are proceeds from their Educational Sector and Agricultural plantation....

Yet pupils in some part of Bauchi state are still studying under the tree.

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COUP D'ETAT IN NIGERIA

On January 15, 1966, Chukwuma Kaduna Nzeogwu led the first ever-military coup in Nigeria that led to the death of Sir Ahmadu Bello, the Sardauna of Sokoto and Premier of Northern Nigeria, Chief S.I. Akintola, the Premier of Western Region, Sir Abubakar Tafawa Balewa, Prime Minister of Nigeria, Chief Festus Okotie-Eboh, Federal Minister of Finance and other military officers. The coup was poorly carried out in certain parts of the country and there was a strong accusation of tribalism. The Northern People accused Chukwuma as well as his fellow coup plotters of staging an Igbo coup. This is because most of the officers killed during the coup were those from other part of the country. The then general officer commanding the Nigerian army, Major-General Johnson Thomas Ununakwe Aguiyi Ironsi was sworn-in as the Military Head of State of Nigeria.

THE SECOND COUP IN NIGERIA
On 29 July, 1966, six months after the first coup plot, three young military officers of Northern background led by Lieutenant Colonel Murtala Muhammed staged a counter coup to even the score. This led to the death of Major-General J.T.U. Aguyi-Ironsi, Head of State, Col. Francis Adekunle Fajuyi Military Governor, Western region and other military officers. General Yakubu Gowon was then sworn-in as the Military Head of State.

THE THIRD COUP IN NIGERIA
In July 1975, a group of Colonel sacked the government of General Yakubu Gowon in a bloodless coup. General Murtala Muhammed also masterminded this coup. In this coup, no live were lost. General Murtala Muhammed assumed power in July 1975.

THE FOURTH COUP IN NIGERIA
On 13 February 1976, six months later, Lieutenant-colonel Bukur Suka Dimka with his loyalist stage an abortive coup which claimed the lives of three officers; General Murtala Muhammed, Head of State, Col. Ibrahim Taiwo, Governor of Kwara State and Lt. Akintunde Akinsehinwa, ADC to Muhammed. This led to their arrest and subsequent execution of one civilian and 38 soldiers, including Major-General Illya Bisalla, five Colonel, four majors and other officers for their role in the failed coup. Civilians involved in the coup include, Abdulkareem Zakari, a staff of Radio Nigeria, Lagos and Helen Gomwalk, sister-in-law of Joseph Gomwalk, were tried by military tribunal and punished. Zakari was executed for his involvement in the coup while Helen Gomwalk bagged a life sentence. She was later given amnesty by the Shehu Shagari administration.

THE FIFTH COUP IN NIGERIA
On 31 December 1983, General Buhari Muhammadu stage a coup which sacked the shehu Shagari’s administration. This coup led to the death of a loyal officer to the government, Brigadier Ibrahim Bako.

THE SIXTH COUP IN NIGERIA
On 27 August 1985, Babangida led a palace coup which terminated the Buhari’s 20 months reign.

THE SEVENTH COUP IN NIGERIA
In 1986, Major-General Mamman Vatsa led an abortive coup to overthrown the government of President Babangida. That same year, he and other 10 military officers were tried and were executed in March 1986.

THE EIGHTH COUP IN NIGERIA
On 22 April 1990, Gideon Orka staged an abortive coup to unseat the government of Ibrahim Babangida. The coup attempt has been describe as one of the bloodies coup and it was the largest execution of coup plotters in the nation’s history. This led to the death of nine loyal Soldiers. 69 soldiers of various ranks were accused of treason and they were killed by firing squad. The second in command and Chief of general staff, Vice-admiral Augustus Aikhomu, revealed that at least three of the plotters of the April 22 coup were arrested, caution and released in 1987 over an alleged coup plot to overthrow the government. They were G.T. Nyiam, a Lieutenant Colonel, S.D. Mukoro and Gideon Orkar, both majors. They were later released. Aikhomu also said that the officers regrouped once again in January to overthrow the government and had intended to kill not only the president, but also, the AFRC members and military governors, all civilian members of the council of ministers and senior military and police officers. The suspects were later tried by the treason and other offences special military tribunal headed by Ike Nwachukwu, Major-General and general officer commanding the 1 mechanised division of the Nigerian Army, Kaduna. After the trial, 42 persons were found guilty and condemned to death by firing squad. This was the largest execution of coup plotters in Nigeria’s history breaking the record of the 1976 coup led by Buka Suka Dimka in which 32 officers and men were executed.

Read more: http://www.nigerianelitesforum.com/ng/my-nigeria/10603-the-history-of-coup-d-etat-in-nigeria.html#ixzz21BLBvFb9

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