Firm launches online bidding portal

From left: Admin/Human Resource Officer, Nigerian Insurers Association (NIA), Kenneth Nwantiti; Marketing Associates First Bank of Nigeria Plc, Olawepo Oluwabukola; Project Promoter EBN, Akinola Odusami; Olarinde Olayemi also of First Bank and Representative of LASACO Life, Fatimat Tiamiyu at the launch in Lagos.

Chuks Udo Okonta

Online trading in the country has received a boost with the launch of a bidding electronic portal - ebn.com by Robertson Olusanu+Co.

The Project Promoter, Akinola Odusami, at the unveiling of the portal today in Lagos, said the unique platform – which can be access through www.enb.com.ng, would enable the public buy and sell new and used items online, adding that though the crave for online shopping seems to be increasing, bidding for items online is still alien to most shoppers.

He said: “It is obvious that Nigerians, particularly the elites, are now getting used to buying goods and services online, but bidding for items online is still alien to us, particularly when we want to dispose salvaged, recovered or obsolete valuable items.

“Nigeria is about to witness the real time sales and delivery process of both used and new products online through electronic bidding.

“The question is do we usually have real value for items being physically offered for bidding? The opportunity to bid for an item is often limited to a very few individuals and the highest bidder among these few individuals is selected to pay. This limitation makes full realization of real value for such item impossible.”

Odusami noted that transaction on the platform is transparent; timely and void of any corrupt practice, stressing that it gives users no hassle, but enhances the value realization on the items meant to be disposed in no time.

He said the platform, was designed to address the challenge in the traditional and online trading process where interested buyers are denied the opportunity to appreciate the price being offered by other interested buyers and also prevented from making better choice and offer real value for an item.

“Challenges observed in the online and traditional trading process, informed this project christened Electronic Bidding in Nigeria (EBN). EBN is meant to tackle all the obstacles involved in the process of disposing of valuable items in the shortest time possible. EBN is aimed at giving sellers the opportunity to draw the attention of many buyers to their online stores on an electronic platform.

“This will allow real bargaining process which will ultimately result to high offer and sale of items meant to be sole to the ultimate advantage of the seller,” he added.