Nigerian Law of Electronic Transactions

Book Review 

Title:          Nigerian Law of Electronic  Transactions 

Author:       Adeniji Kazeem, SAN, FCArb

Publisher:   West African Book Publishers  Limited

 Hardcover:  ISBN: 978-978-153-967-1

Number of Pages:    192

Year of Publication:     2024

Name of Reviewer:  Gbenga Omolokun

Introduction 

As a professional with over a decade of experience in the financial services sector, I have witnessed firsthand the transformative impact of technology on the industry. However, the rapid integration of technology has outpaced the development of the corresponding legal frameworks. It is within this context that The Nigerian Law of Electronic Transactions proves to be a significant and timely contribution, offering a comprehensive overview of the laws governing electronic transactions in Nigeria. 

About the Book

Book Cover

The hard cover book has an alluring front cover, with a photograph of the author on the back.

Contents

The book of 192 pages contains six chapters, namely: Chapter 1: Introduction; Chapter 2: Electronic Contract Formation; Chapter 3: Evidence and Electronic Contracts; Chapter 4: Legislating for Electronic Transactions; Chapter 5: Cybercrimes and Electronic Contracts and Chapter 6: Resolving Electronic Commercial Disputes. 

It serves as a much-needed compendium of relevant laws, addressing a critical gap in understanding the legalities that underpin the use of technology in business and financial transactions. As I delved into the book, I was enlightened and surprised by the extent of existing legal provisions, many of which are under-utilised in practice. For instance, the Cybersecurity Act, which gained notoriety during my review, highlighted gaps in practical application, despite its comprehensive coverage.

A particularly compelling section of the book, deals with contracts and the notion of consent in electronic transactions. The discussion around what constitutes consent, particularly in the context of financial services, is crucial. The book raises pertinent questions, about whether the completion of a payment transaction can be considered as contractual acceptance. This is an area ripe for further exploration and has significant implications for market participants.

The book also addresses the enforceability of Browser-wrap Agreements which are often overlooked, but critical in the digital age. Understanding these agreements is vital, for ensuring that both businesses and consumers are adequately protected under the law.

One surprising revelation was the exclusion of certain key processes from digital signature acceptance, such as the issuance of birth certificates and the termination of utility services. These exclusions present practical challenges, especially considering the National Population Commission’s (NPC) move towards digital issuance of birth certificates. Similarly, the need for physical confirmation to terminate utility services complicates the digital provision of credit in sectors like power, where embedding digital financial services could offer substantial benefits.

The section on digital evidence is particularly enlightening, offering a comparison between digital practices in financial services and the evidentiary standards required in court. The emergence of AI and GPT models, introduces new complexities in the realm of digital evidence. The book prompts a re-evaluation of the admissibility and certification of computer-generated evidence, a topic that is increasingly relevant as technology evolves.

Cybercrime is another critical area covered extensively in the book. While high-value cybercrimes involving institutional hacks often make headlines, more prevalent issues involve lower-value online fraud, such as those arising from Instagram transactions. The book discusses the provisions in the Cybersecurity Act designed to address these crimes, but also highlights the practical challenges of restitution relative to the fraud value. Additionally, the lack of affordable cybercrime insurance in Nigeria further complicates the issue.

One notable observation, is the sluggishness and expense of the judicial process in handling cybercrime cases, particularly internet fraud. Despite the Cybersecurity Act’s provisions, practical enforcement remains a challenge. The book underscores the need for more efficient judicial mechanisms, to handle the growing incidence of cybercrimes.

Data protection is another area of concern, especially from a regulatory standpoint. The book points out that the majority of the Nigerian population either lacks the resources to understand or the awareness to care about data protection implications. This highlights a significant gap in public education and awareness that needs to be addressed to ensure comprehensive data protection compliance.

Conclusion 

In conclusion, Nigerian Law of Electronic Transactions by Adeniji Kazeem, SAN is an essential resource for anyone involved in the digital and financial sectors in Nigeria. The book not only illuminates existing legal frameworks, but also identifies areas needing further attention and reform. It is a timely and invaluable guide for navigating the complex legal landscape of electronic transactions, offering clarity and insight for both legal practitioners and industry participants.

Gbenga Omolokun