According to Facebook last report, Nigeria’s monthly active users (MAU) have grown to 16-million (from 15-million) which is a 6.67% increase, as of the first quarter of 2016. A year later, with this huge number, Nigerians still find it difficult to connect to the audience they have built on Facebook after spending time and money due to Ads payment issue.
Facebook supports direct debit payments for Ads in some countries excluding Nigeria. They do support PayPal and numerous credit cards or co-branded debit cards as payment options for Facebook Ads.
Facebook is also now displaying advert rates for pages and businesses in Naira and accept manual payment for ads with Local Credit Cards? This of course have proved to be just figure display as actual charges are different from what is showing on Facebook page.
However, due to CBN banking reform, foreign transaction is technically disabled on Naira Debit/Credit Card from most banks. In addition, for those that allows, there is a $100 monthly spending limit.
Facebook claims they are working to expand their payment options, but don’t have a date for when they may offer additional payment methods.
At WebClick, we have been receiving a lot of enquiries from many small business owners who run Facebook Ad to promote their business. As a result of this, we put a world out to the bank to find out their true position on the use of Naira Debit/Credit card for Facebook Ad. Below are the responses we got. Some banks do not respond but we are still reaching out to them and will update the responses. We ask the following question:
Access Bank Response
I will like to know if your bank policy will allow me to pay for Facebook Ad with your Debit Card in Nigeria here? And if so, what is the monthly limit for spending?
Diamond Bank Response
Fidelity Bank Response
GT Bank Response
Skye Bank Response
Stanbic IBTC Bank Response
Sterling Bank Response
UBA Bank Response
Zenith Bank Response
First Bank Response