#SMWLagos2017: Why Facebook Started Accepting Naira Payment for Advertisers from Nigerians
Mr Chris Cox, the Chief Product Officer, Facebook, has said that the social networking company was now accepting Nigeria’s local currency, Naira, for payment for advertisement on its platform.
Cox made the disclosure at an interactive session with newsmen in Lagos on Monday.
He said that when the Facebook’s founder, Mark Zuckerberg, visited Nigeria in 2016, one of the requests by Nigerian entrepreneurs was for businesses to pay for advertisements and other services in Naira.
“In response, Facebook has started accepting locally issued Nigerian Naira cards from new advertisers for payments on its ads platform.
“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,’’ the product officer said.
He said that Facebook was continuously working to offer new payment options to make Facebook ads more accessible for all advertisers.
According to him, from March 8, 2017, Facebook would kick off “Boost Your Business,’’ a series of free training sessions.
He said that the training sessions were designed to help thousands of Nigerian small business owners understand how to leverage digital platforms for growth.
Cox said that the sessions would be facilitated by trainers led by “She Leads Africa,’’ and would be held in Lagos, Kaduna, Port Harcourt and Ibadan.
The chief product officer is in Nigeria to speak at Social Media Week in Lagos, holding from Feb. 27 to March 3, 2017.
Facebook’s Chief Operating Officer, Sheryl Sandberg, says the company has over four million advertisers.
Sandberg said that the number signified the growing importance of mobile to consumers and marketers.
She said that while the majority of advertisers on Facebook were small and medium-size businesses, many small businesses still needed to catch up.
Facebook, Inc. is a social networking company, which allows people to communicate with their family, friends, and co-workers.
The company offers advertisers a combination of reach, relevance, social context and engagement to enhance the value of their ads.
This article originally appeared on Punch