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Facebook in now accepting Naira from advertisers in Nigeria; Zuckerberg kept his promise

by Milicent Atieno

Remember when Marc Zuckerberg was strolling and jogging around Lagos? Well, during one of his sessions with software developers and businesses in Nigeria, people made a request to him that Facebook starts accepting Naira as a payment currency.

Previously, as is so in many parts of the world, advertisers have to pay for advertisement services on Facebook by first converting their local currencies to the few accepted currencies. On his trip to Nigeria, Zuckerberg has a sit down with some of the advertisers in Nigeria who use Facebook to reach their crowd.

They asked him to consider making Nigeria’s currency, the Naira, as one of the official currencies Facebook is accepting as advertisement services payments. On Monday, Chris Cox, the Chief Product Office at Facebook said that going forward; the social network will be taking Naira.

In response, Facebook has started accepting locally issued Nigerian Naira cards from new advertisers for payments on its ads platform, said Cox. “With 8.6 million people in Nigeria using Facebook on mobile every day, Facebook is a great place for businesses to reach their customers and market their products and services.

We are listening to our community of partners, developers, advertisers, and content creators to understand what we can build to best serve their needs.”

Cox added that Facebook is looking for more ways of convenience for advertisers to explore and utilize the advertisements tools it has to offer. He also revealed that come March 8, 2017; Facebook will sponsor a free training session, ‘Boost Your Business’, targeting to help thousands of small scale business owners in Nigeria leverage on digital technology to grow.

Facebook’s Chief Operating Officer, Sheryl Sandberg, added that the social network has more than four million advertisers in Nigeria, and stressed the importance of mobile-first content for consumers and advertisers.

Sandberg also revealed that the bulk of advertisers using Facebook in Nigeria are small and medium-sized businesses. At the same time, Sandberg stressed on the need of more small businesses to catch up with the digital advertisement platform.

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