Scammers: Nigeria missing $167.7bn global direct selling market — QNET

By Juliet Umeh

Malaysia-Lifestyle and wellness company, QNET, has warned that Nigeria risked losing retired connected the rapidly expanding $167.7 cardinal planetary nonstop selling manufacture owed to scams and deficiency of legislation.

Speaking astatine the company’s 27th day carnival successful Malaysia, with the theme: “Together We Rise,” QNET’s Chief Marketing Officer, Kuna Trevor, highlighted the sector’s transformative potential.

He referenced the 2023 World Federation of Direct Selling Associations, WFDSA, report, which recorded 102.9 cardinal distributors worldwide and identified wellness (32 per cent), idiosyncratic attraction (24 per cent), and household goods (17 per cent) arsenic starring categories.

Trevor said: “Direct selling is not conscionable astir products; it’s astir giving radical the powerfulness of prime and a way to fiscal and idiosyncratic empowerment.

“Countries with beardown legislation, specified arsenic Malaysia, Singapore, South Africa, and Rwanda, are already benefiting, but astir Africans are being near down due to the fact that of scams and anemic regulations.”

Supporting the call, QNET’s Group Chief Communications Officer, Ramya Chandrasekaran, said authorities was the astir effectual solution.

She stated: “South Africa and Rwanda are the lone African countries with nonstop selling laws. If Nigeria enacts akin legislation, companies volition travel flooding successful due to the fact that determination volition beryllium a information nett and wide model for operations.

“This protects consumers portion besides creating gross for authorities done licensing and superior requirements.”

QNET’s Chief Legal Officer, Nikhil Patel, warned that fraudulent schemes posed a triple threat, saying “they rob victims, tarnish the names of credible companies specified arsenic QNET, and discourage concern successful section economies.

“When scams thrive, companies walk immense sums cleaning up reputational damage, and this deters caller players from entering the market.”

Patel noted that though the Direct Selling Association of Nigeria was incorporated successful 2024 with 4 founding members, it was not yet active. 

‘’Without an effectual regulatory body, the marketplace remains vulnerable,’’ she stressed.

QNET’s authoritative cause successful Ghana, Mr. Bola Ray, shared however Ghana had engaged authorities to found a nonstop selling framework.

He said: “If Nigeria follows this path, it could unlock entrepreneurship, pull overseas concern and permission a bequest of economical empowerment.”

QNET stressed its readiness to enactment with Nigerian regulators, stakeholders, and the Direct Selling Association of Nigeria to physique a safe, thriving situation for nonstop selling.

The station Scammers: Nigeria missing $167.7bn planetary nonstop selling marketplace — QNET appeared archetypal connected Vanguard News.