List of Top Escrow Service Providers in Nigeria
Looking for the best online escrow services in Nigeria?
Want to buy or sell digital assets without the risk of being scammed? Then you are right for seeking an escrow service provider.
When it comes to doing business online in Nigeria, there is a high chance that you could be dealing with a scammer disguising as a legitimate online merchant.
Hence, it is important to look before you leap when trying to close a deal with someone over the internet.
More so, a scammer might even have an ally pose as an escrow service in a bid to scam you of your hard-earned money.
Hence, the need to discuss a list of legitimate escrow service providers in Nigeria that have a history of helping buyers and sellers complete deals without hassles.
Without much ado, let's take a look at some of the best escrow services you can try out today.
Note: This is not an exhaustive list. I'll be updating the list with more escrow service providers if I find any, and will also remove any provider found to be defunct or fraudulent.
Wese90
Wese90 is an escrow service provider in Nigeria that is popular on Nigeria's foremost online forum, Nairaland.
He predominantly deals on ecommerce transactions and has helped online merchants transact more than 1 billion Naira over the last 10 years.
If you're looking for a no-nonsense escrow provider with a clean record of successfully bringing buyers and sellers together, then Wese90 is your guy.
The only issue you might encounter with him is the long queue of people using his services.
It seems Wese90 is a one-man show, so sometimes, your transaction might go under the radar.
I've used his services successfully many times. But one time, he was so busy that I had to wait for more than 24 hours. At the time he responded, I and the buyer had already concluded the deal using an alternative service.
So, Wese90 is trusted, popular but can be unavailable once in a while.
Koji Agudah
Koji Agudah or Koji Escrow as he's popularly known is doing a great job by providing a very professional escrow service targeted at newbies in the digital space.
He's know for running several sensitization campaigns to help newbies avoid being scammed, and that is a very good approach that is needed in the Nigerian digital space.
The best thing about Koji Escrow is that they are available 24/7 even at 3am in the morning, and their charges are very affordable.
I've used his services twice without any glitch, and I highly commend his professionalism in dealing with escrow transactions.
Moneyboom Escrow
Moneyboom Escrow by SLNX Digital is provided by yours truly.
Moneyboom Escrow is fast, simple, and cost-effective, with a focus on helping small online businesses buy and sell without risk.
The biggest positive about Moneyboom Escrow is their flat rate charges, which ensures that merchants pay less in escrow fees the more they get paid.
EscrowLock
Escrowlock is one of the pioneers in escrow services in Nigeria which utilizes its escrow platform to process payments for buyers and sellers.
They charge between 1.25% to 3.25% per transaction, which is considered an industry low. However, charges might pile up for deals involving huge amounts.
The thing about EscrowLock is that the transaction process can be quite slow. More so, I tried to use the service recently but the website wasn't responding.
Vesicash
Vesicash is not just an escrow service per se. They provide the infrastructure for webmasters in Nigeria to provide a reliable escrow service with payment integration.
With a plug-and-play escrow solution, webmasters can embed the Vesicash escrow technology on their website and start providing escrow services.
The advantage of using Vesicash is that merchants can receive payments in a wide range of currencies apart from Naira. So, escrow deals and transactions across the continent can be successfully completed without hassle on Vesicash.
Nowarii
This is a recent escrow service launched by Koji Agudah, but focused on digital merchants who buy and sell digital assets.
It's quite a popular niche right now, with digital assets such as Facebook groups, Instagram pages, and websites known to be selling for respectable prices.
With Nowarii, merchants can leverage a trusted platform provided by a trusted name, in an industry where scam is rife.
The good thing about Nowarii is that there is clear enough instructions and guides to help newbies successfully buy or sell digital assets while reducing the risk of being scammed.
If you need an escrow to complete a deal involving the sale of a digital asset, then Nowarii will be recommended.