Nigerian businesses are raising alarm over a surge in chargeback disputes initiated by I Just Got Backs (IJGBs) — Nigerians returning from the UK, US, and Canada — after returning home following a Detty December in the country.
According to several business owners, these chargebacks are being filed weeks after services or goods were rendered, causing significant financial losses. Many of these disputes involve transactions completed during the busy “Detty December” period, a time marked by high spending on events, entertainment, and luxury goods.
A chargeback is a reversal of funds initiated by the cardholder through their bank, typically on the grounds that the transaction was unauthorized or there was an issue with the goods or services received. It is a consumer protection tool that allows cardholders to dispute transactions and potentially reclaim their money if they believe the transaction was fraudulent or unsatisfactory. However, it is increasingly being misused by individuals as a way to reclaim funds even when services were rendered as agreed.
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