Assessing the Adequacy of the Legal Framework in Facilitating E-Commerce in Nigeria

Abstract

The purpose of this research is to look at the sufficiency of the legal framework in facilitating electronic business transactions in Nigeria. The research focuses on the present level of support for the existing laws regulating the conduct of electronic transactions and makes recommendations for improving the efficiency of Ecommerce transactions in Nigeria. The study found that the existing legislative frameworks have played significant roles in the practice and administration of E-commerce in Nigeria. The work is also successful in identifying several areas where the current laws fell short of providing the necessary support and a favourable business climate which affects the smooth operation, expansion, growth and competitiveness of electronic business transactions in Nigeria. This research concludes that reforming the current regulatory frameworks will provide a welcoming environment for effective growth of e-commerce transactions and undoubtedly increase consumers’ and investors’ trust in Nigeria’s electronic transaction market.