ADDRESSING FRAUD IN NIGERIAN C2C E-COMMERCE: THE ROLE OF REPUTATION SYSTEMS

Abstract

The rapid advancement of internet technology has brought about significant opportunities in various aspects of society, including economics and culture. The internet has played a pivotal role in transforming nations, communities, institutions, and individuals. It has given rise to innovations such as e-commerce, e-banking, e-governance, and e-learning, which are shaping the landscape of industrial innovation. E-commerce, in particular, has emerged as a genuine driver of economic growth in numerous developed countries, and it is rapidly expanding in regions like Nigeria and other parts of Africa. This paper explores the growth of e-commerce in Nigeria, driven by the increased accessibility to the internet and telecommunication services. Prominent e-commerce platforms like Konga.com, Jumia.com.ng, and Dealdey.com have gained popularity, providing consumers with a convenient and time-saving alternative to traditional retail shopping. Consumer-to-consumer (C2C) e-commerce, the oldest form of e-commerce, allows users to engage directly in buying and selling from one another. This model fosters competition, product availability, and improved consumer choices. While e-commerce has brought numerous benefits, it has also introduced challenges, with fraud being a significant concern. This paper discusses the negative impacts of fraud on e-commerce platforms and highlights the need for effective fraud prevention measures.