How it Works

Please Pay Attention

Learn how to bid.

  • 1. Log on to i-Naira (SSL Certified Site). Select LIVE AUCTION and click to view available auction rooms.
  • 2. Registration payment is powered by Interswitch. Registration fee is N2,000.
  • 3. Select SIGN-UP as a first-time user or SIGN-IN as an existing customer. Registration requirement includes: First and last names; Email; Phone number; Password. Our admin will generate your bid paddle for new customers after registration payment confirmation.
  • 4. 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.
  • 5. User's unique identifier is the customer's first name and four last digits of his/her Nigerian phone number (Aisha ****4458).
  • 6. Each auction room has an admission fee which can also be set at (0) if the vendor prefers not to charge an entrance fee.
  • 7. The fee deters unserious users from bidding and gives confidence to serious bidders to participate.
  • 8. Click ENTER after making payment (payment is powered by INTERSWITCH or direct Bank Transfer to our designated bank account).
  • 9. A room is opened within a period set by the vendor.
  • 10. 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).
  • 11. When admitted into a room, you can then see the items the vendors (A Nigerian Company, government agency or reputable individuals) are displaying.
  • 12. However, you can view Initial Room Catalog to see what is privately going on in each room but you cannot bid until you have been admitted to a specific room.
  • 13. Viewing dates are equally communicated for customers who want to phyiscally inspect assets that will be auctioned.
  • 14. When you click on one item, a pop-up app opens and gives more details about the item that you are interested in.
  • 15. Then you have an option to select NOT NOW or BID NOW to bid.
  • 16. Bid ID is the unique NO INB0000001. assigned to an item by our system.
  • 17. Item description, gives brief info about the item
  • 18. Highest bidder is the leading bidder
  • 19. Highest bid, is the highest amount entered so far.
  • 20. Start date is the time when the bid was opened
  • 21. End date is when the bid closes
  • 22. Time left captures how long the bid will last in hours, minutes & seconds
  • 23. The box for bid entering is where bidders enter the amount they are offering for the item. Please enter your figures without comma or space.
  • 24. 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 want (Reserve Price)
  • 25. More button shows bidders other available items
  • 26. Bid history shows all the bidders who bided for the item.
  • 27. Submit is the button bidders click to submit their bids
  • 28. When the time set on an auction expires, a winner will emerge if the vendor's reserve price is met.
  • 29. A probe of the bid history will give participants a clear picture of how the winner emerged the highest bidder.
  • 30. When you win, the system will automatically apply a buyer's premium of 5% to the hammer price which must be paid beforewon item can be released.

VALUE BARGAIN PLATFORM

Our auction services are deployed to support the Organised Private Sector; financial institutions, service companies, Insurance companies, manufacturers etc with assets/liabilities disposal services that can help our clients sell faster with potentials of earning more.

Please note, i-naira.com auction services are not free. Thus, you are required to pay a one-time access fee of N2,000 to be able to take advantage of the value bargains we bring to the table.