The most popular online payment service provider in the world: PayPal is officially in Nigeria. PayPal, through one of its executives, announced the good news on Monday the 16th of June 2014. The good news quickly turned sour as Nigerians found out that they can only enjoy about 10% of PayPal's features.

PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. With just an email address and a password, you can open a PayPal account, transfer money and make payment worldwide in exchange for goods and services without sharing your financial information with the seller. PayPal's popularity is also an added advantage as almost all international online businesses accept payment via PayPal.

How to open a PayPal account in Nigeria

It has been difficult for Nigerians to do business with the rest of the world over the internet because PayPal: the preferred way to make and receive payments online was not available in Nigeria. PayPal is now officially doing business with Nigerians in Nigeria so anyone in Nigeria can open a PayPal account with a Nigerian address and link a Nigerian issued debit card to the account.

Follow the steps below to open a PayPal account in Nigeria:

Step 1: Visit and click "Sign Up"

Step 2: Select "Nigeria" under "Your country or region" and click "Open an account" inside the "Individual" section if you want to open an individual account or click "Open an account" inside the "Business" section if you want to open a business account.

*PayPal for business is for merchants who buy and sell online using their company name.

Step 3: Fill in your details and click "Agree and Create Account".

Step 4: Enter your card details and click "Continue". PayPal will accept Visa and Master cards issued by any Nigerian bank.

At this stage, your account has been created and an email with an activation link has been sent to the email address you entered in the registration process. Proceed to step 5 to activate your PayPal account.

Step 5: Login to your email account (the same email you entered in step 3 above). Locate and open the email from PayPal and click the activation link in the email. You will be redirected to PayPal's login page. Login to PayPal to view your new account.

How to verify your Nigerian PayPal account

Every new PayPal account in Nigeria has a spending limit of about N40,000. Once your account gets verified, the limit is lifted and you can spend as much as you can. Follow the steps below to verify your PayPal account.

Step 1: Login to PayPal and click the "Get Verified" link.

Step 2: You will be redirected to a page asking you to confirm your card for verification. The card details you entered in the registration process will be displayed on the page. Click "Continue". PayPal will deduct about N320 from your account which they will return in 24 hours.

Step 3: Log out of PayPal and wait for your verification code which will be inside the SMS or email debit alert from your bank. The verification code looks like this: PP*1234CODE. The 4-digit number is the verification code.

Step 4: Log in to your PayPal account and click "Confirm my debit or credit card". Enter the 4-digit code and click "Confirm card". Your PayPal account has been verified. Click "My account >> Overview" to confirm this (see screen shot below).

Using PayPal in Nigeria

PayPal's long awaited entry into Nigeria was received with mixed feelings. Nigerians, especially online marketers were happy to receive PayPal into Nigeria but sad to find out that PayPal's Nigerian version has numerous limitations. In other words, PayPal has not unlocked its full functionality to Nigerians yet. At the moment Nigerians can only use about 10% of PayPal's features.

Sending and receiving money with PayPal

PayPal has not yet activated peer-to-peer money transfer in Nigeria. This simply means that Nigerians CANNOT send money to other PayPal users neither can they receive money from other PayPal users (for now). However, PayPal users in Nigeria CAN pay for goods and services with their PayPal accounts (as long as a debit card has been linked to their accounts) when they buy from international merchants who use PayPal.

Linking PayPal to a Nigerian bank account

It is impossible to link your PayPal account with your Nigerian bank account as this service is not available at the moment. Hopefully, this limitation will be removed in the nearest future.

Funding your PayPal account

Nigerians cannot add funds to their PayPal accounts for now which is not bad considering the fact that we cannot send funds nor link our bank accounts. However, you can pay for goods and services with PayPal when you shop from a PayPal merchant. The funds will be deducted directly from your linked debit card.

PayPal's partnership with FirstBank

The news about PayPal's partnership with First Bank is no longer new. According to First Bank, Nigerians can open a PayPal account directly from their FirstOnline account (First Bank's internet banking platform). Surprisingly, apart from getting automatic verification (as against 24 to 48 hours verification with other banks), the FirstBank-PayPal partnership offers NO OTHER BENEFIT. Maybe they are working on something... Time will tell.



0 # joy 2014-11-11 09:24
Reply | Reply with quote | Quote
0 # AABNigeria 2014-12-29 20:04
Thank you
Reply | Reply with quote | Quote
+1 # Usman 2015-03-19 09:50
weldone aab nigeria. Cant wait for paypal to start operating fully in nigeria as i believe it will help our local online stores.
Reply | Reply with quote | Quote
-1 # Waheed 2014-12-21 15:18
Does this means, you cannot get paid into the account from sites outside Nigeria?
Reply | Reply with quote | Quote
-1 # AABNigeria 2014-12-29 20:07
For now, you cannot receive money via PayPal in Nigeria
Reply | Reply with quote | Quote
0 # jeremiah 2015-03-07 21:17
Hello pls i do network marketing with an international company who intends to pay me through paypal, i opened just few days ago, does it mean i cnt recieve if they eventually send the fund? Thanks
Reply | Reply with quote | Quote
0 # AABNigeria 2015-03-19 20:23
No you cannot..
Reply | Reply with quote | Quote
0 # wright 2015-12-07 08:23
Hi Jeremiah, did you eventually get paid from the online marketing company, and can we talk about them, maybe you can make some more dough by adding me to your down line. 08026311237 - Whatsapp or call
Reply | Reply with quote | Quote
-2 # Emmanuel 2015-04-06 12:29
(1) Is there no way to go around and make sure I receive money from outside Nigeria via PayPal.

(2) What about receiving money from Nigeria?

(3) Is there any other payment system (in the likes of PayPal) that allows Nigerian to receive money from outside Nigeria?
Reply | Reply with quote | Quote
0 # Roland 2015-08-20 20:02
Can I send money to a beneficiary account in another country, and can the money be received by the beneficiary?
Reply | Reply with quote | Quote
0 # Nuzzo 2016-02-18 21:28
Do you think it would be a good idea to buy a verified PayPal account from Auction Essistance? I can't get a card to verify my mine for some reason.
Reply | Reply with quote | Quote
0 # AABNigeria 2016-02-20 22:07
Hello Nuzzo,
It's NOT a good idea to buy a verified PayPal account from anyone or any company.
Nigerians can get automatic verification if they open a PayPal account through a First Bank account. You can try that or contact PayPal for assistance here:
Reply | Reply with quote | Quote
0 # Gela 2016-05-01 08:50
Can I transfer directly from my PayPal account to a foreign account ?
Reply | Reply with quote | Quote
0 # Ola 2017-07-03 09:13
please, If i buy good for ecommerce site with paypal,

how much will paypal deduct from my account.
How much chargers will go to paypal account from my nigeria account
Reply | Reply with quote | Quote