1.0 Definitions

The following definitions relate to these Terms of Use:

1.1 Account or Wallet: An electronic stored value account on Gbowy Capital and Investment Services Limited website and mobile application created for use by the customer. Credits, debits, and charges may be applied to this Account. The Account is primarily accessed through electronic devices such as mobile phones, desktops, laptops, and tablet personal computers.

1.2 Agent: Refers to any party or device, including authorized Gbowy Capital and Investment Services Limited Agents, that facilitate transactions on behalf of customers.

1.3 BVN: Bank Verification Number used by the banking industry in Nigeria and issued by a CBN-approved financial institution.

1.4 CBN: Central Bank of Nigeria.

1.5 Content: All information whether textual, visual, audio, or otherwise, appearing on or available through the services.

1.6 Credit: The movement of funds into an Account or Wallet.

1.7 Debit: The movement of funds out of an Account or Wallet.

1.8 Level 1 customer: Refers to a new customer who fulfills the minimum requirement listed in section 6.9 of this document and as defined in the CBN three-tier Know Your Customer (KYC) requirements.

1.9 Level 2 customer: Refers to a user who fulfills the minimum requirements listed in section 6.9 of this document and as defined in the CBN three-tier KYC requirements.

1.10 Level 3 customer: Refers to a user who fulfills the minimum requirements listed in section 6.9 of this document and as defined in the CBN three-tier KYC requirements.

1.11 Linked Bank Account/Card: Refers to a bank account, debit card, or credit card that you have linked to your Gbowy Capital and Investment Services Limited. This allows you to carry out transactions using funds from your Gbowy Capital and Investment Services Limited account.

1.12 Merchant: Means any person or entity who offers and or accepts payment for goods or services using Gbowy Capital and Investment Services Limited.

1.13 Mobile Payments: Describes the service or process that allows customers to make and receive a variety of payments using their mobile phone, among other channels.

1.14 Mobile phone: Means a GSM or CDMA device, which can make and receive telephone calls and send and receive SMSs, among other communication options.

1.15 OTP: One Time Password, used to authorize transactions or processes.

1.16 PIN: Personal Identification Number.

1.17 Products: Refer to Gbowy Capital and Investment Services Limited products, including person-to-person money transfer, bill payments, airtime top-up, retail payment services, or other Merchant products and services provided through Gbowy Capital and Investment Services Limited.

1.18 Registered phone number: Refers to any phone number that has been registered on Gbowy Capital and Investment Services Limited.

1.19 Services: Refer to any products and services provided to the customer.

1.20 Gbowy Capital and Investment Services Limited Wallet: Means an electronic stored value account on Gbowy Capital and Investment Services Limited used to perform transactions.

1.21 SMS or Short Message Service: A standard communication service on GSM phones, which is used to exchange short text messages between mobile devices.

1.22 Investment: Means placing funds with Gbowy Capital and Investment Services Limited for an agreed tenor for a promised return at the Prevailing Rate.

1.23 Investment Account: Means your virtual account with Gbowy Capital and Investment Services Limited for the placement of Investments offered on the website and mobile application.

1.24 Loan: Means the principal amount of the loan together with any interest and fees due on the loan made or to be made to you under this Agreement from time to time through the App or (as the context requires) the outstanding repayment amount for the duration of that loan.

1.25 Prevailing Rate: Means the rate of interest payable on the Investment as shall be notified to you through the App, which rate may vary from time to time.

1.26 “Credit Reference Bureau”Includes any financial institution or a credit reference bureau duly licensed under the laws and regulations of the Federal Republic of Nigeria to, collect and facilitate the sharing of customer credit information.

2.0 Interpretation

2.1 In addition to the definitions in Section 1 unless the context requires otherwise: the singular shall include the plural and vice versa.

2.2 A reference to any one gender, whether masculine or feminine includes the other.

2.3 All the headings and sub-headings in this agreement are for convenience only and are not to be taken into account for the purposes of interpretation of this Agreement.

2.4 The recitals and schedules shall be deemed to form part of this Agreement.

2.5 In this agreement, the terms: “You”, “your”, “Customer”, “Borrower” shall mean the person who applied for this Account and agrees to this Agreement while “We”, “us” and “our” and “Lender” shall mean Gbowy Capital and Investment Services Limited, and following an assignment, any person, company or financial institution to whom the rights and/or obligations of Gbowy Capital and Investment Services Limited have been assigned. “Account” means the Customer’s account with Gbowy Capital and Investment Services Limited “Disbursement Date” means the date Gbowy Capital and Investment Services Limited advanced the loan to the Customer’s account “Payment Due Date” means a maximum of 30 days after the loan has been disbursed “Credit Limit” means the maximum credit available to the Borrower on opening an account with Gbowy Capital and Investment Services Limited “Loan” means the amount advanced to the Borrower by Gbowy Capital and Investment Services Limited.

Part A: General Provisions

3.0 Grant and Scope of License

3.1 consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the website and mobile app on your device, subject to these Terms and Conditions. We reserve all other rights, except as expressly set out in this Agreement or as permitted by any local law. You agree:

3.2 to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the website and mobile app.

3.3 not to make alterations to, or modifications of, the whole or any part of the website and mobile app, or permit the website and mobile app or any part of it to be combined with, or become incorporated in, any other programs.

3.4 not to disassemble, decompile, reverse-engineer, or create derivative works based on the whole or any part of the website and mobile app or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the website and mobile app with another software program, and provided that:

3.5 the information obtained by you during such activities is not disclosed or communicated to any third party without our prior written consent; and is not used to create any software that is substantially similar to the website and mobile app.

3.6 you include our copyright notice on all entire and partial copies you make of the website and mobile app on any medium; and you undertake not to provide or otherwise make available the website and mobile app in whole or in part (including object and source code), in any form to any person without prior written consent from us; and

3.7 you agree to comply with all technology control or export laws and regulations in your country that apply to the technology used or supported by the website and mobile app or any Service (the Technology).

4.0 Opening Account and Condition of Use

4.1. To use Gbowy Capital and Investment Services Limited you must first open an Account by registering your details through our website and mobile app. As part of the signup process, you will need to accept these Terms of Use and our Privacy Policy, and you must have legal capacity to accept the same. If you order additional services, you may be asked to accept additional terms and conditions.

4.2. If you are an individual, you must be a Nigerian citizen,18 years or older to use our services and by opening a Gbowy Capital and Investment Services Limited Account you declare that you are 18 years or older. This does not apply to products for which we may set a different age limit. We may require at any time that you provide evidence of your age.

4.3 You must provide all information as may be requested by us, such as your name, BVN, email address, mobile device number and such other information as we may request from time to time (collectively, “Customer Information”).

4.4 You agree to promptly notify us of changes to your Customer Information by updating your profile on the Gbowy Capital and Investment Services Limited website and mobile app and to notify us at least five business days before any changes to your bank account information, including, but not limited to, the closure of your account for any reason. If we approve your registration, you will be authorized to use the Account, subject to these terms.

4.5 By opening a Gbowy Capital and Investment Services Limited Account you represent and warrant to us that your opening of a Gbowy Capital and Investment Services Limited Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.

4.6 By operating a Gbowy Capital and Investment Services Limited account, you hereby consent that Gbowy Capital and Investment Services Limited may collect, obtain, store and process your personal data that you have provided to us during the onboarding process for the purpose of receiving updates, news, promotional and marketing emails or materials from Gbowy Capital and Investment Services Limited.

4.7 You may only add payment instruments (such as bank accounts, credit or debit cards) to your Gbowy Capital and Investment Services Limited Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.

4.8 During signup you may be asked whether you intend to use your Gbowy Capital and Investment Services Limited for private or commercial purposes. If you have any intention to use your Gbowy Capital and Investment Services Limited Account for commercial purposes, you must tell us, even if you use it also for private purposes. If you have stated that you will use your Gbowy Capital and Investment Services Limited Account for private purposes only, you must tell us immediately before, at any point in the future you use it for commercial purposes by contacting Customer Service via email (info@gbowy.net) or call (+234 703 510 2567)

5.0 Personal Information

5.1 To meet our Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) obligations, we may require you to provide any or all the following:

5.1.1 your full name;

5.1.2 your date of birth;

5.1.3 your Bank Verification Number (“BVN”);

5.1.4 your current residential address;

5.1.5 your picture;

5.1.6 copy of a valid Government issued ID (national ID, international passport, permanent voter’s card or driver’s license);

5.1.7 a copy of recent utility bill, bank statement, affidavit, or another bill, dated within three months of our request, which carries your name and address;

5.1.8 any other information or document as we may require for our internal risk assessment.

5.2 You warrant that all information and documentation provided to us are true, correct, and accurate. You also undertake to notify us of any changes to the information or documentation which you have provided.

5.3 You hereby agree and authorise Gbowy Capital and Investment Services Limited to verify information provided by you against the information held by any third party (including official databases) such as, NIBBS, Payment System Providers any other information bank available to Gbowy Capital and Investment Services Limited.

5.4 Personal Information Verification

5.4 The information that Gbowy Capital and Investment Services Limited may verify against the information which you have provided to us include (without limitation): your name, phone number, date of birth, address, age, Identification Number (“ID”) or Passport Number and such other information that will enable Gbowy Capital and Investment Services Limited to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).

5.5 You hereby agree and authorise Gbowy Capital and Investment Services Limited to collect and verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you or by you, from any 3rd party applications, and such other information as Gbowy Capital and Investment Services Limited shall require for purposes of providing you the Services (the “Relevant Information”). In case you are nominating a person as your guarantor, you are also confirming that you have sought approval from the named person for the same, and that they are willing to act as a guarantor for this loan facility.

5.6 You hereby consent to Gbowy Capital and Investment Services Limited verifying the Personal Information and the Relevant Information and using the Personal Information and the Relevant Information to the extent necessary in Gbowy Capital and Investment Services Limited opinion for the provision of the Services.

5.7 You hereby agree and authorise Gbowy Capital and Investment Services Limited to obtain and procure your Personal Information and Relevant Information from relevant sources (private and official databases) and you further agree and consent to the disclosure and provision of such Personal Information by us or our Third-Party Partners.

5.8 You agree to indemnify and hold Gbowy Capital and Investment Services Limited and the Third-Party Partners harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.

5.9 Gbowy Capital and Investment Services Limited reserves the right to request for further information from you pertaining to your use of the Services at any time. Failure to provide such information within the time required by Gbowy Capital and Investment Services Limited may result in Gbowy Capital and Investment Services Limited declining to accept your application for an Account or access to the Services.

6.0 Transacting

6.1 You may access the available funds in your Account at any time. While we make every reasonable attempt to provide the services as described in our marketing and educational materials, we offer the services “as is” and without any warranties.

6.2. All payments will be processed in Nigerian local currency i.e. Naira and Kobo.

6.3. Gbowy Capital and Investment Services Limited will send you a receipt of all transactions effected from your Gbowy Capital and Investment Services Limited Account; this message may be sent via SMS, email, or another available channel.

6.4. Some transactions may require you to input your pre-configured PIN, you are solely responsible for maintaining the confidentiality of your PIN and login details of your Account. You must protect the secrecy of your PIN and login details and prevent fraudulent use of the same.

6.6. As required by the CBN, there are daily limits on your Account or Wallet. You can increase or reduce these limits by providing Gbowy Capital and Investment Services Limited with the required information, subject to the restrictions listed in section 6.9 of this document and as mandated by the CBN.

6.7. Your Account will be credited with any deposits made into it, and the credit will be available for transactions immediately after they are cleared.

6.8. We will verify and confirm any record of a deposit into your Account. Our records will be taken as correct unless the contrary is proved.

6.9. The table below outlines the customer classification Gbowy Capital and Investment Services Limited adopts along KYC levels along with the applicable transaction limits. You may not withdraw, transfer or make any payments that together exceed any of the per transaction or daily limits defined for your category. Should you attempt to exceed any applicable limits, your transactions will be declined. Gbowy Capital and Investment Services Limited may, acting reasonably and in accordance with regulations set by the Central Bank of Nigeria, vary the limits at any time and any variation will be notified to customers. Where a deposit exceeding the transaction limit for your category is made to your Account, we will notify you to upgrade your Account to the category that applies to such deposit within seven (7) days. In the event that you fail to upgrade your Account to the required category, we reserve right to place a restriction on your Account until such upgrade to the required category is effected.

Tier	Requirement	Limit
1	Passport Photograph (user selfie or BVN picture) Name Date of Birth Gender Address Phone Number	Cumulative Balance Limit: NGN 300,000.00 Maximum Daily Transactions: NGN 50,000.00 for Bank Transfers (Outbound) NGN 50,000.00 for Top-ups (Inbound)
2	KYC-1 Requirements Plus: Valid BVN BVN Verification Government ID verification	Cumulative Balance Limit: NGN 500,000.00 Maximum Daily Transaction: NGN 200,000.00 for Bank Transfers (Outbound) NGN 200,000.00 for Top-up (Inbound)
3	KYC-2 Requirements Plus: Proof of address (e.g. Utility Bill)	Cumulative Balance Limit: Unlimited Maximum Daily Transaction: NGN 1,000,000.00 for Bank Transfers (Outbound) NGN 1,000,000.00 for Top-up (Inbound)

**Subject to Change**

6. Additional Terms

6.10 Transaction Limits: For the avoidance of doubt, please note that some transaction limits may be further reduced from the approved CBN limits. This may be done based on channels or particular types of transactions as part of our risk control process.

6.11 Anti-Fraud and Money Laundering: You undertake throughout the duration of your use of Gbowy Capital and Investment Services Limited to comply with anti-fraud and anti-money laundering regulations applicable in Nigeria. In particular, you undertake to respond diligently to any request from Gbowy Capital and Investment Services Limited or a regulatory or judicial authority regarding any suspected fraudulent or money laundering activity on your Account.

6.12 Breach of Regulations: Any breach of the anti-fraud and anti-money laundering regulations by you constitutes a serious breach of this Terms of Use and we reserve the right to immediately suspend or close your Account.

6.13 Suspected Fraudulent Activity: The proceeds from suspected fraudulent or money laundering transactions shall be kept by Gbowy Capital and Investment Services Limited pending an internal decision, or a judicial or administrative decision.

6.14 Money Laundering Compliance: In processing your transactions, Gbowy Capital and Investment Services Limited shall comply with the Money Laundering Prohibition Act (as amended) 2011.

7. Funding and Transferring out of your Account

7.1 Funding your Account

Once you open your account, you will be assigned an Account Number. The account number will be required when you or a third party wants to fund your account. Save for any limits that are applicable to the account, your account may be credited by:

• Transfers from other account holders on Gbowy Capital and Investment Services Limited website and mobile app.
• Bank transfers to your Account.
• Cards.
• Gbowy Capital and Investment Services Limited disbursing an approved loan into your account.

7.2 Transferring Funds

You may transfer the funds in your account to other accounts on Gbowy Capital and Investment Services Limited platform, and to any bank account with a Nigerian bank.

7.3 Reasons for Non-Processing of Transfers

We may not process your transfer or payment if:

• Your instructions are unclear.
• You have insufficient funds.
• There is a suspicion of criminal, fraudulent, or illegal activity on your Gbowy Capital and Investment Services Limited account.
• There is a suspicion of unauthorized access on your Gbowy Capital and Investment Services Limited Account.
• We (and/or our Partners) are legally restricted from completing the transfers.
• It goes over your payment limits (where applicable).
• Your account has been dormant for more than 12 months.
• We are prohibited or restricted from doing so in accordance with the payment system regulations or any applicable law in Nigeria.

7.4 Responsibility for Transfer Details

You are responsible for providing the correct details for the recipient of your transfers or payments. We will work with our partners to assist you in retrieving the amount if you notify us promptly when payments are made according to your instructions and those instructions were wrong, but authorized. If we are unable to retrieve the payment, we will assist you with the relevant information in our possession that you may need to reclaim your funds.

7.5 Password/PIN for Transactions

You may be required to set a password/Personal Identification Number (PIN) to carry out transactions using the account. When you enter your password to confirm a transaction, you confirm that we may treat the transaction as having been authorized.

7.6 Overdrawn Accounts

Overdrawn amounts from your account may be treated as a Loan which is immediately due and repayable to us.

8. Prohibited Transactions

8.1 Prohibited Items: It is strictly forbidden to send or receive payments as consideration for the sale or supply of:

• Hard drugs and drug paraphernalia
• Weapons (including without limitation, knives, guns, firearms or ammunition)
• Satellite and cable TV
• Unregistered charity services
• Items which encourage or facilitate illegal activities
• Prepaid debit cards or other stored value cards that are not associated with a particular merchant and are not limited to purchases of particular products or services
• Multi-level marketing, pyramid selling or ponzi schemes, matrix programmes or other “get rich quick” schemes or high yield investment programmes
• Goods or services that infringe the intellectual property rights of a third party.
• Activities defined as illegal by the CBN and laws of the Federal Republic of Nigeria.

8.2 Illegal Gambling: It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including (but not limited to) illegal sports betting, casino games, and poker games. We may suspend or terminate your Gbowy Capital and Investment Services Limited Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your Gbowy Capital and Investment Services Limited Account for or in connection with illegal gambling transactions.

8.3 Illegal Purposes: It is strictly forbidden to use your Gbowy Capital and Investment Services Limited Account for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency.

We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories to these Terms and Conditions of Use. If you conduct or attempt to conduct any transaction in violation of the prohibitions, we reserve the right to:

• Reverse the transaction
• Close or suspend your Gbowy Capital and Investment Services Limited Account
• Report the transaction to the relevant law enforcement agency.
• Claim damages from you
• Charge you an administration fee in case we apply any of the above

9. Liability

In case of an unauthorized payment or a payment that was incorrectly executed due to an error by us, we shall at your request immediately refund the payment amount including all fees deducted therefrom. This shall not apply:

9.1 Where the unauthorized payment arises from your failure to keep the personalized security features of your Gbowy Capital and Investment Services Limited Account safe in accordance with section 19, in which case you shall remain liable.

9.2. If you fail to notify us without undue delay of a loss of your password or any other event that could reasonably be expected to have compromised the security of your Gbowy Capital and Investment Services Limited Account after you have gained knowledge of such an event, you shall remain liable for losses incurred up to your notification to us.

9.3 If the transaction was unauthorized but you have compromised the security of your Gbowy Capital and Investment Services Limited Account with intent or gross negligence, or if you fail to dispute and bring the unauthorized or incorrectly executed transaction to our attention within 2 weeks from the date of the transaction, you shall be solely liable for all losses.

9.4. Section 9.3 shall not apply to transactions made after you have notified us in accordance with section 9.0, in which case, we shall remain liable and refund any unauthorized transaction immediately to you.

9.5. Without prejudice to the foregoing, you are asked to check the transactions history of your Gbowy Capital and Investment Services Limited Account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns. Contact may be over email (info@gbowy.net) or call (+234 703 510 2567)

9.6. In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.

9.7. Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control, or the control of the intermediary affected.

9.8. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business, and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.

9.9. Nothing in these Terms of Use shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.

10.0 Statements

10.1. A statement and activity report in respect of your Account will be made available on Request. Requests shall be made via a contact link on the website and mobile app.

10.2. The statement shall provide details of your recent transactions in your Account initiated from your device.

10.3. Your statement will show all transactions carried out from your Account. You must check your statement carefully and notify Gbowy Capital and Investment Services Limited as soon as possible, and no later than 48 hours after receipt of your statement, if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.

10.4. Gbowy Capital and Investment Services Limited, may without notice to you, rectify discrepancies, add or alter the entries in your statement to reflect the accurate position of your transactions.

10.5. Save for a manifest error, a statement issued to you in respect of your Account shall be conclusive evidence of the transactions carried out on your account for the period covered in the statement.

Part B: Our Loans

These Terms and Conditions apply to and regulate the provision of credit facilities by Gbowy Capital and Investment Services Limited to the Borrower herein. These Terms and Conditions constitute the Lender’s offer and sets out the terms governing this Agreement.

Gbowy Capital and Investment Services Limited is an open-end credit plan offered by the Lender and by opening an account you agree that you have read the Terms and Conditions. You authorize the Lender to review your credit report and you understand that this account is subject to transaction fees and default fees and is governed by the Laws of the Federal Republic of Nigeria.

You will be asked to provide information (such as your date of birth and your Bank Verification Number), when you apply for a loan. This information is used for verification purposes.

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HOW TO USE GBOWY CAPITAL AND INVESTMENT SERVICES LIMITED LOAN ACCOUNT

This is an open-end credit account where you access direct loan or credit facility using Gbowy Capital and Investment Services Limited, while you repay the loan or credit facility on a future date via cash transfer or electronic repayment (whether manual or automatic) from your debit/credit card or through deductions from your monthly salary before crediting the balance into your salary account by any of our authorized payment providers on the Payment Due Date at an agreed interest rate.

11.0 Definitions

In This Agreement, The Terms: “You”, “Your”, “Customer”, And “Borrower” Mean the Person Who Applied for This Account and Agrees to This Agreement While “We”, “Us”, “Our” And “Lender” Shall Mean Gbowy Capital and Investment Services Limited, and following an assignment, any person, company or financial institution to whom the rights and/or obligations of the lender have been assigned.

11.1. “Account” Means the Borrower’s Account with The Lender

11.2. “Disbursement Date” Means the Date the Lender Actually Advanced the Loan to The Borrower

11.3. “Payment Due Date” Means the Date When the Instalment Should Be Repaid

11.4. “Credit Limit” Means the Maximum Credit Available to The Borrower on Opening the Account with The Lender

11.5. “Loan” Means the Amount Advanced to The Borrower by The Lender, Which Shall Be No Less Than N1,000.00 (One Thousand Naira Only)

12.0. Loan Fees

12.1. The loan Fees payable by you in relation to any loan shall be displayed on the app.

12.2. Failure to make repayments as at when due will attract a penalty fee of 1% per month on unpaid amount in addition to charging current rate of interest on outstanding debt. In case of 0% interest rate, we apply 1% on outstanding debt on the first day after the loan was due.

12.3. The loan fee may be increased or decreased from time to time by the Lender. Such change in loan fee will take effect on the Borrower’s account following a minimum of 15 days written notice.

12.4. In the event that the borrower wishes to liquidate the loan facility before the closure date (final due date), they may contact Gbowy Capital and Investment Services Limited at info@gbowy.net to understand the reduction in total amount to repay, given that the loan is being terminated early.

13.0 Borrower’s Obligations

13.1. To pay to us, the loan sum, including any convenience, default or penalty fees, flat interest rate, and other amounts due to the Lender charged to this Account. Borrower promises to pay these amounts as agreed in this Agreement on or before the Payment Due Date.

13.2. The Lender reserves the right to presume that the Borrower has authorized any loan application made in the name of the Borrower using this Account. The Borrower will be deemed responsible for any unauthorized application using this Account unless the Borrower notifies the Lender, in writing, of imminent fraud by another person on the Borrower’s account within 24 hours of such fraud.

13.3. To repay the loan given to you and/or to someone you authorized to use this Account via direct cash transfer to a bank account listed by the Lender, an electronic debit from the card/account you provided on the due date, or through an acceptable electronic channel including deducting the repayment amount from your salary by any of our payment partners.

13.4. The Lender reserves the right to accept early repayment before the Payment Due Date, provided the Borrower has given adequate notice and repays full loan along with the flat interest rate. Loan repayment via electronic debit card may be affected by the Lender in the way and manner hereinafter specified:

13.4.1. The Lender shall charge a one-time processing fee the first time a Customer sets up a new debit card on the Account. In the event the card is expired or about to expire, you will have to obtain a renewed card from your bank or provide us with another personal debit card.

13.4.2. The Lender shall deduct from the card or salary account setup on the repayment due date. We will never make any transactions on the card outside of the scheduled loan repayments. In the event of a double repayment initiated in error by you, we will on a best effort basis process a refund within a reasonable time.

13.4.3. You hereby indemnify us against any and all losses, liabilities or damages that may arise in the event that you use a third party’s card on your Account without the consent of such third party.

13.4.4. In the event of a default or insufficiency of funds in your bank account, you hereby authorize us to charge any other cards, account(s) or salary payment debit you may have on your Account or profile other than the primary card or account listed on an ongoing basis until the debt is settled.

13.4.5. You understand and agree that we do not store card details on our platform thus card details shall be processed through a secure payment gateway that is PCI DSS compliant.

13.5. You agree to give The Lender authentic and up-to-date personal, social media, phone and financial records about you that we may reasonably request and analyze, from time to time.

13.6. The Borrower shall indemnify and hold harmless the Lender and its representatives (each, an “Indemnified Person”) from and against any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including, without limitation, counsel’s fees and disbursements and other costs of investigation or defense, including those incurred upon any appeal) which may be instituted or asserted against or incurred by any Indemnified Person as the result or arising out of:

13.6.1. credit having been extended, suspended, or terminated under this Agreement, or

13.6.2 any loan documents and the administration of such credit and in connection with or arising out of the transactions contemplated under this Agreement or any loan document and any actions or failures to act in connection therewith and any legal costs and expenses arising out of or incurred in connection with disputes between or among any parties to this Agreement or any loan document (collectively, “Indemnified Liabilities”);

13.6.3. provided that the Borrower shall not be liable for any indemnification to an Indemnified Person to the extent that any such suit, action, proceeding, claim, damage, loss, liability or expense results solely from that Indemnified Person’s gross negligence or wilful misconduct, as finally determined by a court of competent jurisdiction.

13.7. The Borrower also agrees:

13.7.1. Not to give us false information or signatures, electronic or otherwise, at any time.

13.7.2. To pay a Late Fee or penalty fee as may be provided in this terms and conditions.

13.7.3. To make all payments via direct debit on cards or by electronic funds transfer, or any other account debit including reduction of your salary payment by the agreed debit amount and as stated in the application form.

13.7.4. To promptly notify us if you change your name, your mailing address, your e-mail address or your telephone number.

13.7.5. To honor any other promises that you make in this Agreement.

13.7.6. Not to accept this Account unless you are of legal age and have the capacity to enter into a valid contract.

13.7.7. Not to use Gbowy Capital and Investment Services Limited for any act of illegality or criminality as Gbowy Capital and Investment Services Limited will not be criminally culpable for any illegality committed by you.

13.7.8. To give the Lender legal authority to deduct full repayment before due date where it is established that the loan was obtained fraudulently.

13.7.9. To fill out the application form (as provided) with accurate information and details as required.

14.0. Lender’s Obligations

14.1. To make available the loan/credit facility to the Borrower of a figure not less than N1,000.00 (One Thousand Naira only)

14.2. To perform above upon confirmation of the Borrower’s identity and personal information

14.3. To demand repayment for the Borrower as and when due

14.4. To conduct investigations on the Borrower prior to opening an account for the Borrower

14.5. To use all reasonable and legitimate means to collect the amount extended to the Borrower, the default fee, the transaction fees and any other penalty fee imposed on the Borrower as a result of the loan.

14.6. Not to store or save Borrower’s debit or credit card details given by the Borrower in the application form.

15.0. Credit Reference

15.1 The Lender or its duly authorized representatives/agents will utilize dedicated Credit Agencies for a credit report on the Borrower in considering any application for credit.

15.1.1. The Borrower authorizes The Lender to access any information available to The Lender as provided by the Credit Agency or Payment Service Provider.

15.1.2. The Borrower also agrees that the Borrower’s details (save the card details) and the loan application decision may be registered with the Credit Agency.

16.0. Notices

16.1. The Borrower agrees that The Lender may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:

16.1.1. To the most recent physical address The Lender holds for the Borrower on file

16.1.2. By delivery to any email address provided during the application process.

16.1.3. By delivery of an SMS to any mobile telephone number the Borrower has provided to The Lender.

16.1.4. By posting such notice on the Lender’s website.

17.0. Event of Default

Default in terms of this Agreement will occur if:

17.1. The Borrower fails to make any scheduled repayment in full on or before the payment due date in accordance with the repayment plan given to the Borrower.

17.2. Any representation/information, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or

17.3. The Borrower does anything which may prejudice the Lender’s rights in terms of this Agreement or causes the Lender to suffer any loss or damage.

17.4. In the event of any default by the Borrower subject to clause 17.0. above –

17.4.1. The Lender reserves the right to assign its right, title and interest under the Agreement to an external Collections Agency who will take all reasonable steps to collect the outstanding loan amount.

17.4.2. The Lender also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.

17.4.3. The Borrower shall indemnify and hold harmless the Lender and its representatives (each, an “Indemnified Person”) from and against any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including, without limitation, counsel’s fees and disbursements and other costs of investigation or defence, including those incurred upon any appeal) which may be instituted or asserted against or incurred by any Indemnified Person as the result or arising out of:

17.4.3.1. credit having been extended, suspended or terminated under this Agreement or

17.4.3.2. any loan documents and the administration of such credit and in connection with or arising out of the transactions contemplated under this Agreement or any loan document and any actions or failures to act in connection therewith and any legal costs and expenses arising out of or

17.4.3.3. incurred in connection with disputes between or among any parties to this Agreement or any loan document (collectively, “Indemnified Liabilities”);

17.4.4. provided that the Borrower shall not be liable for any indemnification to an Indemnified Person to the extent that any such suit, action, proceeding, claim, damage, loss, liability or expense results solely from that Indemnified Person’s gross negligence or wilful misconduct, as finally determined by a court of competent jurisdiction.

18.0 Data Protection and Customer Consent

18.1 The processing of your data is governed by our Privacy Policy which can be found on our website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy, Anti-Money Laundering Policy and every other policy we display on our website. You should print and keep a copy of the Privacy Policy together with these newsletter you receive will also give you the option to unsubscribe from any future newsletter. You however will not be able to opt out of system, transaction or account critical email notifications from Gbowy Capital and Investment Services Limited.

18.1. The processing of your data is governed by our Privacy Policy which can be found on our website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy, Anti-Money Laundering Policy and every other policy we display on our website. You should print and keep a copy of the Privacy Policy together with these Terms of Use.

18.2. As a default, you will receive e-mail newsletters that will inform you about new product features, events, promotions, special deals etc. By accepting these Terms of Use, you agree to receive such e-mail newsletters on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by logging into your Gbowy Capital and Investment Services Limited Account and changing the appropriate setting in your Gbowy Capital and Investment Services Limited Account Notification Settings. You can also opt out of receiving newsletters by contacting Customer Service. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter. You however will not be able to opt out of system, transaction or account critical email notifications from Gbowy Capital and Investment Services Limited.

18.3. When you sign up on Gbowy Capital and Investment Services Limited you will be required to provide us with your name, email, gender, and birth date, among other information. In some cases, we may ask for additional information for security reasons or to provide specific services to you.

18.4. You may change your personal identifiable information on Gbowy Capital and Investment Services Limited at any time by contacting Customer Service or accessing your account profile on the App. Some of such information will be updated immediately, while others may require further verification before it is updated.

18.5. When you use Gbowy Capital and Investment Services Limited from your device, we may collect information from that device regarding your browser type, location, and IP address, as well as the pages you visit for security purposes.

18.6. When using our mobile applications we ask for access to your phone contacts, we will only upload to our servers if you give us the additional explicit permission. We will not share your contacts with any 3rd party.

18.7. When using our mobile applications, we ask for permission to be granted access to the following features:

Camera: allows you take a profile picture, scan and capture payment card details to make payments easier and faster.

Photo Library: allows you access to your photos as an optional source for your profile picture.

Fingerprint or Facial Recognition: allows you securely log into the application. We will only ask for permission the first time the user attempts to use any of these functions. Thereafter the user may manage access through their settings option on the device.

18.8. We are required to retain the details of transactions or payments you make via Gbowy Capital and Investment Services Limited after the transaction is completed. This information will only be made available to third parties if required by law or to our representatives, professional advisers or to external third-party service providers under the same obligation of confidentiality, for the purpose of enhancing our services to you. We will take all reasonable steps to ensure that your data is treated securely and in accordance with our Privacy Policy.

18.9. You agree that your information, including your personal information, your telephone conversations with our Customer Services and your transactions may be recorded and stored for record keeping purposes for up to five (5) years from date of closure of your Account.

18.10. By tapping the “I agree to the Terms and Conditions”, on the application form, which you hereby adopt as your electronic signature, you understand, consent and agree that:

1. We can provide materials and other information about your legal rights and duties to you electronically. Your electronic signature on agreements and documents has the same effect as if you signed them using ink on paper or any other physical means. We can send all important communications, billing statements and demand notes and reminders (collectively referred to as “Disclosures”) to you electronically via SMS or to an email address that you provide to us for while applying for this loan. We will alert you when the Disclosures are available, by sending you an electronic communication. Our email will tell you how you can view the Disclosures. We will make the Disclosures available to you from the date it first became available to you, or the date we sent you the email to alert you that it was available. You will be able to print a copy of the Disclosure or download the information for your records. This consent applies to this transaction, to all future Disclosures on this Account, to all future transactions in which you use the Gbowy Capital and Investment Services Limited Payment option with us, at any time, and to other Disclosures that we provide to you by email, unless you have, prior to such transaction, withdrawn your consent by the procedure mentioned below. 2. By consenting, you agree that electronic Disclosures have the same meaning and effect as if we provided paper Disclosures to you as we are required to do so. When we send you an email alerting you that the Disclosures are available electronically and make it available online, that shall have the same meaning and effect as if we provided paper Disclosures to you, whether or not you choose to view the Disclosures, unless you had previously withdrawn your consent to receive Disclosures electronically.

18.11. We use server firewalls and encryption to keep your Account information safe during transmission and in storage. We also use automated and social measures to enhance security, such as analysing an account behaviour for fraudulent or otherwise anomalous behaviour, may limit use of Gbowy Capital and Investment Services Limited features in response to possible signs of abuse, and may suspend or disable accounts for violations of our customer terms and conditions.

18.12. Unless stated otherwise, our current privacy policy applies to all information that we have about you and your Account. We advise that you check our website and mobile app periodically for changes to our privacy policy.