The rules of the relationship.

01Acceptance of Terms

These Terms of Service ("Terms") govern your access to and use of usecredafi.com.ng, the CredaFi WhatsApp channel, and any other product or service that links to these Terms (together, the "Services"), provided by CredaFi Limited ("CredaFi", "we", "us" or "our").

By creating an account, messaging our WhatsApp channel, or otherwise using the Services, you agree to be bound by these Terms, by our Privacy Policy, our Cookies Policy, our Consent & KYC Disclosure and — where you hold a wallet — our E-Wallet / Payment Services Agreement, each of which is incorporated by reference. If you do not agree, do not use the Services.

02Regulatory status and the role of Licensed Partners

CredaFi is a financial technology company. CredaFi is not, at this time, a licensed bank, deposit money bank or payment service provider, and does not itself hold or claim any licence issued by the Central Bank of Nigeria ("CBN") or any other financial regulator.

CredaFi provides its wallet, payments, transfers, bill-payment and related services by partnering with, and routing regulated activity through, third-party institutions duly licensed by the CBN or other applicable regulators — including licensed payment service providers and mobile money operators (each, a "Licensed Partner"). Customer funds are held, and regulated payment activities are ultimately performed, by the relevant Licensed Partner in accordance with its own licence and regulatory obligations, and not by CredaFi directly.

CredaFi is pursuing its own authorisations, including registration as a data controller of major importance with the Nigeria Data Protection Commission (NDPC) and, in due course, a Payment Solution Service Provider (PSSP) licence and/or other applicable CBN licence. This document will be updated as our regulatory status changes.

• CredaFi acts as a technology platform and agent that facilitates your access to payment and wallet services actually provided by Licensed Partners.
• Any funds you transfer, deposit or hold through the Services are held in accounts maintained by, or on behalf of, the applicable Licensed Partner — not by CredaFi.
• Regulated activities (holding customer funds and executing payment instructions) are performed by the applicable Licensed Partner under its own licence.
• CredaFi's role, and the identity of the relevant Licensed Partner for a given transaction, may be disclosed to you within the product flow, receipt or statement for that transaction.

03Description of Services

Subject to these Terms, CredaFi enables you to, among other things:

• Open and fund a digital wallet through a Licensed Partner.
• Send and receive money, including cross-border transfers within supported West African corridors.
• Purchase airtime and data, and pay subscriptions (TV, streaming) and other bills.
• Fund third-party service accounts you instruct us to fund, where lawful for your account type.
• Pay for goods and services, including flights, ride-hailing and entertainment bookings, where supported.
• Get spending insights and help resolving transfer issues, in plain language, through our AI assistant.
• Accept payments as a merchant or SME user, where that feature is enabled for your account.

04Feature availability

Not all features are available to all users, in all locations, or at all times, and features described as "coming soon" are not yet available. CredaFi is pre-launch: no wallet can be opened, funded or used until we confirm onboarding is open in your corridor. We may add, modify, suspend or discontinue any feature of the Services at any time, including where required by a Licensed Partner or regulator.

05Eligibility and account registration

Notify us immediately at support@usecredafi.com.ng if you suspect unauthorised access to your account.

• You must be at least 18 years old and have legal capacity to enter binding contracts under Nigerian law.
• You must provide accurate, current and complete registration information.
• You must not be barred from using financial services under applicable law, including sanctions and watchlist regimes.
• You are responsible for the confidentiality of any PIN, password or device used to access your account, and for all activity through your account.

06KYC, AML and verification

Because your account and transactions are ultimately serviced by a Licensed Partner, you agree to complete Know-Your-Customer ("KYC") identity verification, which may include providing your Bank Verification Number (BVN), National Identification Number (NIN), government-issued ID, a selfie or liveness check and proof of address.

We and our Licensed Partners may screen you against sanctions, politically-exposed-person and other regulatory watchlists on an ongoing basis, in line with the CBN AML/CFT Regulations and the Money Laundering (Prevention and Prohibition) Act. We may limit, suspend or decline to open or continue servicing your account if KYC cannot be completed or verified, or where required by a Licensed Partner or applicable law. Full detail is set out in our Consent & KYC Disclosure.

07Wallets, funds and transactions

• Wallet balances represent value held on your behalf by the applicable Licensed Partner in accordance with its terms and licence. CredaFi does not act as a custodian or deposit-taking institution.
• You are responsible for reviewing transaction details (recipient, amount, currency) before confirming. Instructions, once confirmed and processed by the Licensed Partner, generally cannot be reversed.
• We and our Licensed Partners may apply transaction limits, holds or additional verification steps for risk, fraud-prevention or regulatory reasons — including CBN tiered KYC limits.
• If you receive funds sent to you in error, you agree to cooperate with us and the relevant Licensed Partner to return those funds.

08Fees and charges

Fees applicable to specific transactions, transfers or bill payments will be disclosed to you before you confirm the relevant transaction, consistent with the CBN Consumer Protection Regulations. Fees may be charged by us, by a Licensed Partner, or by a third-party biller or payment network, and may change from time to time. Continued use of the Services after a fee change takes effect constitutes acceptance of the revised fees for transactions made after that date.

09Cross-border payments

Where you initiate a cross-border payment within a supported West African corridor, the transaction is processed through one or more Licensed Partners and, where applicable, correspondent or partner institutions in the destination country.

Cross-border transactions may be subject to additional verification, foreign exchange rates and margins, delivery timeframes, CBN foreign exchange and trade rules, and destination-country regulatory requirements — including local AML/CFT and reporting obligations. These will be disclosed to you before you confirm the transaction where reasonably practicable. Personal data may be transferred outside Nigeria strictly as necessary to complete your instruction, under the safeguards described in our Privacy Policy.

10Prohibited uses

You agree not to use the Services to:

• Engage in money laundering, terrorism financing, fraud or any other unlawful activity.
• Provide false, misleading, or another person's identity or verification information.
• Circumvent, disable or interfere with security features, transaction limits or KYC controls.
• Use the Services for gambling, betting or other purposes prohibited under applicable law for your account type or location.
• Reverse-engineer, scrape or interfere with our website, WhatsApp channel or underlying systems.
• Breach the terms of any Licensed Partner or third-party platform, including WhatsApp's terms of service.

11Reporting of unlawful activity

We may report suspected unlawful activity to law enforcement, the CBN, the Nigerian Financial Intelligence Unit (NFIU), the EFCC, the NDPC or other competent authorities, and may share relevant information with our Licensed Partners for that purpose.

12Third-party services

The Services rely on and interoperate with third-party platforms, including the WhatsApp Business Platform (operated by Meta), payment processors, identity verification providers and our Licensed Partners. Your use of WhatsApp is also subject to WhatsApp's and Meta's own terms and policies. CredaFi is not responsible for the acts, omissions, downtime or policies of these third parties, except to the extent required by applicable law.

13Intellectual property

All content, trademarks, logos, software and materials that make up the Services (excluding content owned by Licensed Partners or other third parties) are owned by or licensed to CredaFi Limited. We grant you a limited, non-exclusive, non-transferable, revocable licence to access and use the Services for their intended personal or business purpose. You may not copy, modify, distribute or create derivative works from the Services except as expressly permitted.

14Disclaimers

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE", WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.

CREDAFI DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE OR SECURE, OR THAT ANY LICENSED PARTNER WILL APPROVE A GIVEN TRANSACTION OR ACCOUNT. NOTHING IN THESE TERMS EXCLUDES OR LIMITS LIABILITY THAT CANNOT LAWFULLY BE EXCLUDED OR LIMITED UNDER NIGERIAN LAW, INCLUDING IN RESPECT OF FRAUD OR WILFUL MISCONDUCT.

15Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, CREDAFI AND ITS DIRECTORS, EMPLOYEES AND AGENTS WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR ANY LOSS OF PROFITS, REVENUE, DATA OR GOODWILL, ARISING OUT OF OR RELATING TO YOUR USE OF THE SERVICES.

OUR AGGREGATE LIABILITY FOR ANY CLAIM ARISING OUT OF OR RELATING TO THE SERVICES WILL NOT EXCEED THE GREATER OF (A) THE FEES YOU PAID TO US FOR THE SPECIFIC TRANSACTION GIVING RISE TO THE CLAIM IN THE TWELVE (12) MONTHS PRECEDING THE CLAIM, OR (B) TEN THOUSAND NAIRA (₦10,000). THIS SECTION DOES NOT LIMIT ANY LIABILITY OF A LICENSED PARTNER, WHICH IS GOVERNED BY THAT PARTNER'S OWN TERMS AND APPLICABLE LAW.

16Indemnification

You agree to indemnify and hold harmless CredaFi Limited, its directors, employees and agents from any claims, losses, liabilities, damages and expenses (including reasonable legal fees) arising out of your breach of these Terms, your misuse of the Services, or your violation of applicable law.

17Suspension and termination

We may suspend or terminate your access to the Services, in whole or in part, at any time, with or without notice, where we reasonably believe you have breached these Terms, engaged in fraudulent or unlawful activity, where required by a Licensed Partner or regulator, or to protect the security or integrity of the Services. You may close your account at any time by contacting support@usecredafi.com.ng, subject to settlement of outstanding obligations and the retention requirements described in our Privacy Policy.

18Complaints and dispute resolution

If you have a complaint about the Services, contact us first at support@usecredafi.com.ng so we can attempt to resolve it. We acknowledge complaints within 72 hours and aim to resolve them within 14 working days, in line with the CBN Consumer Protection Framework.

Complaints relating specifically to funds held by, or decisions made by, a Licensed Partner may also be escalated directly to that Licensed Partner and, where applicable, to the CBN's Consumer Protection Department. Data protection complaints may be escalated to the Nigeria Data Protection Commission (NDPC) at www.ndpc.gov.ng. Where a dispute cannot be resolved informally, the parties will first attempt good-faith negotiation and, failing that, proceed to arbitration or the courts as set out below.

19Governing law

These Terms are governed by the laws of the Federal Republic of Nigeria. Subject to the complaints process above, the courts of Nigeria have non-exclusive jurisdiction over any dispute arising out of or in connection with these Terms or the Services.

20Changes to these Terms

We may update these Terms from time to time, including to reflect changes in our regulatory status, Licensed Partners or the Services offered. We will post the updated Terms with a revised effective date and, for material changes, provide additional notice at least 14 days before they take effect. Continued use of the Services after changes take effect constitutes acceptance of the updated Terms.

21General provisions

• Entire agreement: these Terms, together with our Privacy Policy, Cookies Policy, Consent & KYC Disclosure, E-Wallet / Payment Services Agreement and any product-specific terms, constitute the entire agreement between you and us regarding the Services.
• Severability: if any provision is found unenforceable, the remaining provisions continue in full force.
• No waiver: our failure to enforce any provision is not a waiver of our right to do so later.
• Assignment: you may not assign your rights without our consent; we may assign ours, including in connection with a merger, acquisition or restructuring.
• Force majeure: we are not liable for delays or failures caused by events beyond our reasonable control, including Licensed Partner outages, network failures or regulatory action.

22Contact us

• CredaFi Limited, 2 Idimu Egbeda Road, Egbeda, Lagos State, Nigeria
• Legal enquiries: legal@usecredafi.com.ng
• General support: support@usecredafi.com.ng
• WhatsApp: +234 816 994 5302
• Help & Support line: +234 816 994 5302