Terms of Service

Africa Fintech Limited (“we”, “us” or “our”) provides a platform called 9japay.  9japay (the “Platform”) gives access to financial and other lifestyle services such as banking, insurance, travels, event tickets and others (“Products”).

Banking services offered on the Platform are provided by 9japay Microfinance Bank Limited (RC 787934), an entity licensed by the Central Bank of Nigeria. Banking services are offered to only customers in Nigeria. Other services offered on the Platform are provided by the respective named service providers. By signing up for any of the Products, you consent to this Terms of Service as well as the respective terms of service of the relevant named service providers.

The Platform gives you access to financial and other lifestyles services. Accordingly, when you sign up on the Platform, we will aim to set up a bank account for you with 9japay MFB (for Nigerian customers) and also offer you other value-added services.

To access any of the Products on the Platform, you need to set up a 9japay account. To set up your 9japay account, you will provide us with your personal details such as your name, email address, gender details and contact number. When you provide us with these details, we will open a 9japay account for you and also activate the process of opening a bank account for you with 9japay Microfinance Bank Limited (“9japay MFB”). To complete the process of setting up your bank account with 9japay MFB, you will need to provide us with relevant Know-Your-Customer (“KYC”) information such as BVN and government issued identity documents to enable us verify your identity.

Once the KYC process is completed, we will issue you an 9japay MFB account number and you can then access banking services on the 9japay Platform.

Please note that we can only open an 9japay MFB bank account for you with your consent and subject to the following conditions:

When you choose to complete the process of setting up an 9japay MFB bank account, you authorize us to process payments on your behalf via your 9japay MFB account. If you would like to withdraw this authorization at any point in time, you can reach out to us via the channels outlined below to close your account.

For KYC purposes, please note that the 9japay MFB accounts are tiered as follows:

Please note that in each of the above cases, we will take a digital passport photograph of you using our technology, but this will only be done with your consent.

Also, in compliance with extant banking regulations, 9japay MFB is obliged to conduct ongoing due diligence on all bank accounts. Accordingly, you have the sole responsibility of ensuring that your contact address, email and phone number are up to date in your profile. You agree to indemnify us and 9japay MFB for any loss suffered as a result of any false information or error in any information you provide to us.

You agree not to allow anyone else to have or use your password details and to comply with all reasonable instructions we may issue regarding account access and security. In the event you share your password, we will not be liable to you for losses or damages arising in this regard. You will also take all reasonable steps to protect the security of the devicesthrough which you access the 9japay Platform as well as your 9japay MFB account (including, without limitation, using PIN and or password protected personally configured device functionality to access the Products and not sharing your device with other people).

Further, in respect of your bank account, you authorize 9japay MFB to apply restrictions on your account and report to law enforcement agencies including the Economic and Financial Crimes Commission, the Nigerian Financial Intelligence Unit, the Nigerian Police Force etc. if your account is used for or associated with fraudulent activities.

You also consent to 9japay MFB reporting to the Nigeria Interbank Settlement Systems Plc (NIBSS) for update on the Watchlist Database of the Nigerian banking industry and the CBN if your account is associated with any fraudulent activity.

9japay MFB is regulated by the CBN and therefore required to comply with applicable Guidelines, Regulations, Circular etc. issued by the CBN. In addition, 9japay MFB is also obliged to comply with applicable laws in Nigeria.

The Platform does not deal in or offer cryptocurrencies to Nigerian customers due to the CBN restrictions. 9japay MFB does not also facilitate payments for cryptocurrency and other related transactions. Accordingly, you confirm that you will not use your 9japay MFB account to deal in, trade, transact or receive any payment relating to cryptocurrencies and related transactions.

You also confirm that your accounts shall only be used legal purposes and not for any illegal or criminal activities, including but not limited to obtaining funds under false pretense or any other fraudulent activity in contravention of extant laws.

Please know that you can close your account at any time and at no cost. If you will like to close your account, please reach out to us. You will however remain liable for any obligations related to your account with us. Once the account is closed, you will not be able to access any of the Products.

We also reserve the right to close, suspend, freeze or limit access to your account if –

The above list is inclusive and not exhaustive.

9japay MFB is required to comply with international sanctions laws and regulations as well as local laws and regulations applicable to banks. Accordingly, 9japay MFB may close your account if you breach any sanction regulations or where you have a connection with a person or entity listed on any local and international sanctions list.

Our primary language of communicating with you will be English Language. Also, by opening an account with us, you authorize us to send information via text (SMS), email and push notifications. Information we send to you via any of the above media are only for your purpose and we will not assume liability for any loss or damage arising as a result of unauthorized access to such information.

Further, by opening an 9japay MFB account, you agree to waive the CBN mandatory requirement for SMS alerts in favor of push notifications. You hereby agree to indemnify 9japay MFB against all losses, damages, claims, demands and expenses whatsoever which may be incurred, imposed or suffered by 9japay MFB as well as against all actions, proceedings or claims (including attorney’s fees) whether civil or criminal that may be brought against 9japay MFB by reason of such notifications.

We agree to comply at all times with all data privacy and security requirements under the Nigeria Data Protection Act (“NDPA”) and other data protection laws regulating our provision of services to you.

We are responsible for the security and protection of personal data, which we collect and process. Accordingly, we implement access control measures, security protocols and standards including the use of encryption and firewall technologies to ensure that personal data is kept safe and secure on our systems in compliance with extant laws. We also implement periodical security updates to ensure that our security infrastructures are in compliance with reasonable industry standards.

We acknowledge that you own all your personal data. By opening an account with us, you consent to us processing your personal information for the following purposes:

You shall not use any of the 9japay trademarks used to identify our services (the “Trademarks”) for any purpose whatsoever without our prior written consent. You agree that you will not at any time during or after this Agreement assert or claim any interest in or do anything that may adversely affect the validity of any Trademark or any other trademark, trade name or product designation belonging to or licensed to AFL (including, without limitation registering or attempting to register any Trademark or any such other trademark, trade name or product designation).

We do not grant any right or license to any intellectual property rights by implication, estoppel or otherwise other than those expressly mentioned in this Agreement.

We are committed to managing your Personal Data in line with industry best practices. You can read our Privacy Policy to understand how we use your personal data and the steps we take to protect the same.

If, in our sole discretion, we believe that you may have engaged in any violation of this terms of service, we may (with or without notice to you) take such actions as we deem appropriate to mitigate risk to us and any impacted third parties and to ensure compliance with these terms. Such actions may include, without limitation:

In no event shall AFL or its directors, employees, licensors, agents, suppliers or service providers be liable to you or any other third party for any loss or damages howsoever arising (directly or indirectly) whether in tort, contract, negligence or any other basis including but not limited to special, indirect, incidental, consequential, exemplary or punitive damages, damages for loss of profits, revenue, or good will, which may arise from your use or any person’s use, access, misuse or inability to use the Platform or any links to third party websites or any of the Materials contained therein, reliance on the information contained on the Platform, any technical, hardware or software failure of any kind, the interruption, error, omission, delay in operation, computer viruses, even if we have been advised of the possibility of such damages.

You hereby irrevocably agree to defend, indemnify, and hold harmless AFL, its officers, directors, shareholders, employees, independent contractors and agents, from and against any and all claims, actions, liabilities, costs, or demands, including without limitation legal and accounting fees, for all damages directly, indirectly, and or consequentially resulting or allegedly resulting from your misuse of the Platform or any of the Products and services  made available on the same, or your breach of any of this Terms of Service or any intellectual property right or proprietary right infringement claim made by a third party against AFL in connection with your use of the Platform. We shall promptly notify you of any such claim, proceeding or suit, and you shall be responsible for its defense at your expense. AFL may participate in the defense of such claim or defense but is not obligated to do so.

We may need to update, modify or amend these Terms of Service as our technology evolves. We reserve the right to make changes to these Terms at any time by giving notice to you on this page.

We advise that you check this page often, referring to the date of the last modification on the page. If you object to any of the changes to these Terms of Service, you must cease using the sservices immediately.

These terms of service and all matters arising out of the same shall be governed by and are to be construed in accordance with the laws of the Federal Republic of Nigeria.

We shall make an effort to settle all disputes amicably. Any dispute arising out of these Terms of Service, which cannot be settled, by mutual agreement within  a period of one (1) month from the time such dispute arose shall be referred to arbitration by a single arbitrator at the Lagos Court of Arbitration (“LCA”) and governed by the Lagos State Arbitration Law 2009. The arbitrator shall be appointed by both of us (we and you). Where both of us are unable to agree on the choice of an arbitrator, the choice of arbitration shall be referred to the Chairman of the Chartered Institute of Arbitrator, UK (Nigerian branch) on application by us or you. The findings of the arbitrator and subsequent award shall be binding on both of us. Each of us shall bear our respective costs in connection with the arbitration. Venue for the arbitration shall be Lagos, Nigeria.

You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing. We reserve the right to transfer, assign or sub-contract the benefit of the whole or part of any rights or obligations under these Terms of Service to any third party.