i-naira - private online auction - how it works
Log on to i-Naira (SSL Certified Site). Select Private Auction and click ENTER
Select REGISTER as a first-time user or SIGN-IN as an existing customer.
Registration requirement includes:
- First and last names
- Phone number
All the foregoing details will be verified by ONE-TIME-PASS sent to the user phone number to re-enter into our system for security purposes and designed to prevent multiple fake account creation. If you are unable to receive your OTP, send "please verify me" to 08096664448 on WhatsApp or via SMS.
Users unique identifier is their first name and four last digits of their phone numbers (Ibrahim ****4458)
Click on Auction Rooms to see available Private Auction Rooms to enter.
Each room has an admission fee which can also be set at (0) if the vendor prefers not to charge an entrance fee.
The fee deters unserious users from bidding and gives confidence to serious bidders to participate.
Click ENTER after making payment (payment is powered by INTERSWITCH or direct Bank Transfer to our designated bank account).
A room is opened within a period set by the vendor.
Showcased items are only visible to customers who have made payment to gain access to a specific private room. A room is viewable by the public if the payment required to enter the room is set to zero (0).
When admitted into a room, you can then see the items the vendors (A Nigerian Company, government agency or reputable individuals) are displaying.
However, you can view Initial Room Catalog to see what is privately going on in each room but you canâ€™t bid until you have been admitted to a specific room.
When you click on one item, a pop-up app opens and gives more details about the item that you are interested in.
Then you have an option to select NOT NOW or BID NOW to bid.
- Bid ID is the unique NO INB0000001. assigned to an item by our system.
- Item description, gives brief info about the item
- Highest bidder is the leading bidder
- Highest bid, is the highest amount entered so far.
- Start date is the time when the bid was opened
- End date is when the bid closes
- Time left captures how long the bid will last in hours, minutes & seconds
- The box for bid entering is where bidders enter the amount they are offering for the item.
- Reserve not met highlighted in red show that the highest bidder will not win the item if it closes as it is because the entered amount is below what the vendor wants
- More function shows bidders other available items
- Bid history shows all the bidders who bided for the item.
- Submit is the button bidders click to submit their bids
- When bids close, a winner will emerge.
- A probe of the bid history, gives other bidders who lost the bid, a clear picture of how a winner emerged the highest bidder.
- Winner checks their account and click on MY BIDS button to see payments due, the system directs the customer to pay for item.
- When the customer clicks pay, the system will generate an invoice for the winner.
- At this stage the customer is given two options
- Direct transfer to the specified account information or
- Make payment through Interswitch Webpay Direct
- Payment is received and winner receives an invoice with the unique bid ref
- Vendor is notified to hand over won item to the winner.
- The bid activity closes out.
- You are at liberty to enter as many rooms as possible
- Please note, when the rented room expires, all items are automatically removed.
- When the same customer rents another room in the future, you will be required to pay to view their private room offering.
- Your registration on i-naira.com is not the same as fees paid to access a private room.
- It is up to a vendor to have an open room or a closed room.
- an open room does not require a fee for entrance but
- a closed room requires a fee to access the room.
- Delivery logistics will be determined by the vendor under the Private Auction Platform