Facebook accepts Naira advertisements payment


Chris Cox, the Chief Product Officer of 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 when 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.

Cox said: “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.”

Cox said 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 the training sessions were designed to help thousands of Nigerian small business owners understand how to leverage digital platforms for growth.

Cox said 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 February 27 to March 3, 2017.