DealDey Nigeria... Like MMM

Woke up in January 2019 and DealDey Nigeria had shut down its site!

Just like that with depositors’ funds gone and its six months later no one has asked where the money has gone... How am I going to be refunded my money?

They shut down with my money in the e-Wallet of my profile. Just like me, I presume many other users of the DealDey site also had their monies shut or gone with the site.

The Need for eCommerce regulation in Nigeria

Since there is no eCommerce regulation in Nigeria. DealDey shut the site down with buyers' funds intact; as such they cleared all the monies together and left!

No regulator, No EFCC, No asking... Just buyers' monies gone through the electronic wallets that housed the money!

Imagine 1000 people (which we know is more than that) still had N5,000 in their DealDey wallets when they shut down it means they left with a whopping N5,000,000.00 unchecked and unaccounted for.

NDIC-Like structure or an Arbitration Panel for eCommerce in Nigeria. 

There has to be an NDIC-like body that insures the users of the eCommerce sites in Nigeria because just like DealDey whose founder also found or set-up Konga... anyone in any of the Nigerian eCommerce space may also just wake and shut down its site with customers’ e-Wallet funds gone too.

As i write many subscription and aggregation sites in Nigeria can shut down and may not have delivered up-to-date service as at when they shut down and consumers will be the losers.

Today it may be the consumers tomorrow's surprise hit may be on the supplier!