No, it means that Nigeria already has a very low number of people that are going to be paying customers for online services and that those people are completely drowned out by the number of Nigerians that attempt to commit fraud.

It's sad, but it's really true.

The possible millions make use of free services they're not possible millions of e-commerce consumers.

You wish. If Nigeria had millions of legit e-commerce consumers the situation would be quite different.