An online marketplace, OLX owned by Naspers, has announced it will   shut down its offices in Nigeria.

One of its staff, (Names Withheld) said hundreds of workers received letters terminating their appointment on Tuesday.

The termination commences in March, and will be followed by the management team in April, he said.

In an emailed response by the Public Relations and Communications Lead, OLX Nigeria, Uche Nwagboso, the company confirmed that it made a decision to consolidate its business operations in Nigeria.

According to her, the company has made provision for financial compensation for the workers that will be affected.