Nigeria’s online space further expanded this month as the country’s first online auction platform went live. The platform which was officially launched on August 1 according to Hillary Nwaukor, CEO, i-naira.com, is filling a space in the market – that of delivery of value bargains to consumers.
“i-naira.com will act as a middle man between merchants/vendors and consumers seeking for value bargains online. We want to help companies reach a broader consumer base across the country beyond their traditional audience and channels. Our robust self-aware intelligent platform, i-naira.com, offers bargain merchandise in categories that include fashion, electronics, household items, automobiles and real estate, using promotions and auctioning as tool,” he said.
According to him, in auctioning, prices can start at zero but an auction will only close at a price within the agreeable terms between i-naira.com and the vendor that provided the item for sale.
“Some auctions are absolute while others are reserved auction. Effectively, what this means is that an absolute auction can start and close at any amount and the last bidder wins the item but a reserved bid can start at any amount but must close at a reserved price acceptable by the vendor or at an amount higher before a winner can emerge. All deals on i-naira.com starts at five thousand Naira only.”
The platform got the exclusive rights to auction Austin Jay-Jay Okocha’s memorabilia for his foundation, the Jay-Jay Okocha Foundation. The platform has a one-time registration fee of N2,000 that ensures that only serious customers are using the platform.
