Terms of Service

1. Preface

1.1 Binding Agreement

These Terms of Use constitute a legally binding financial-services and end-user licence agreement between you and BCBL Fintech Limited ("BCBL", "we", "us", "our") governing your access to and use of the BCBL mobile application ("App"), the BCBL website at bcbl.ng and any services offered through them (the "Services").

1.2 Acceptance

You accept these Terms by clicking "Continue", "Agree" or an equivalent action after downloading the App, or by otherwise accessing or using any part of the Services. Please pay particular attention to the clauses excluding or limiting our liability and those setting out the dispute-resolution procedure.

1.3 Capacity & Privacy

You confirm that you have the legal capacity to enter into a binding contract. Your use of the Services is additionally subject to our Privacy Notice and any amendments to it. From time to time you may be required to download the latest version of the App in order to continue using the Services.

1.4 No Authorisation to Third Parties

You may not authorise any person or enterprise to process any function provided on the Platform on your behalf.

1.5 Amendments

We may amend these Terms at any time. Amendments will be published at least seven (7) days before they take effect. Your continued use of the Services after the amendments take effect constitutes acceptance of the revised Terms.

1.6 Privacy Notice Incorporation

Our Privacy Notice is incorporated into these Terms by reference.

1.7 Technical Data Consent

You consent to our collection of technical information about your equipment and software in order to improve our products and provide the Services.

1.8 Definitions

In these Terms: "Account" means your registered BCBL user account; "App" means the BCBL mobile application; "Business Day" means any day (other than a Saturday, Sunday or Nigerian public holiday) on which banks are open in Lagos; "Credentials" means your username, password, T-PIN and any other login security information; "Credit Reference Bureau" means any credit bureau licensed in Nigeria; "Equipment" means the device you use to access the Services; "Force Majeure" means any event beyond our reasonable control; "Loan" means any credit extended to you through the Platform; "Network" means any mobile or internet communications network; "Platform" means the App, website and related systems; "Services" means the BCBL services as described in these Terms; "SMS" means the short message service; "T-PIN" means the transaction personal identification number used to confirm instructions; "Transaction Fees" means any fees charged in connection with a Loan.

1.9 Interpretation

Headings are for convenience only and do not affect interpretation. References to the singular include the plural and vice versa.

2. The Services

2.1 Platform Components

The Platform comprises a personal loan service (including a credit-limit calculation based on the information you provide), credit-line checking and a loan calculator.

2.2 Licence

We grant you a non-exclusive, limited, non-transferable, non-sublicensable and revocable licence to access and use the Platform. All other rights are reserved. We may terminate this licence at any time for breach of these Terms.

2.3 Authorised Access

You must download the App only from authorised distribution channels (such as the Google Play Store or Apple App Store). We cannot guarantee normal operation of the Services if the App is obtained elsewhere.

2.4 Service Modification

The Services may be updated, modified or suspended from time to time for scheduled or unscheduled maintenance, upgrades or commercial reasons.

2.5 Platform Updates

We have the right to update, upgrade, amend, delete or transfer the Platform at any time without special notification.

2.6 Technical Compliance

You must comply with all technical and security specifications we publish from time to time.

2.7 Use Restrictions

You may not rent, lease, sub-licence, modify, decompile, reverse-engineer or create derivative works from the Platform. Access to the source code is prohibited. You must comply with all applicable export and technology laws.

2.8 Eligibility

To use the Services you must be at least 18 years old, a legal resident of Nigeria and hold a valid Nigerian bank account. We may independently verify any information you provide.

2.9 Intellectual Property

All intellectual-property rights in the App and the underlying technology belong to us or our licensors. You receive only the rights expressly granted in these Terms.

3. Your Account

3.1 Registration

You must choose a legitimate account name and a secure password that meet our requirements. Your Credentials enable you to log in and use the Services.

3.2 Third-Party Login

You may elect to link a third-party account (for example, a social-media account) to obtain your public profile information for registration purposes.

3.3 Accuracy of Information

You must provide true, accurate and complete identification and related information. Verification may include facial-recognition and liveness-detection procedures. You may not submit any unlawful content.

3.4 Account Ownership

Ownership of, and related interests in, the Account belong to BCBL. You may not transfer, sell or lend your Account without our prior written approval. We may suspend or deregister any Account used in breach of these Terms.

3.5 Account Security

You are responsible for keeping your Account and Credentials secure and confidential. You must notify us immediately of any unauthorised access or suspected security vulnerability. You are solely liable for any loss arising from your negligence.

3.6 Password Recovery

Password recovery is available through our customer-support process, subject to identity verification.

3.7 Liability for Use of the Account

You are solely liable for all acts carried out under your Account, including any Loan contract entered into through the Account.

3.8 Information Changes and Account Closure

After authentication you may update most of your personal information, except items captured at initial registration which are retained for security reasons. You may close your Account after repaying all outstanding Loans.

4. Access to and Use of Our Services

4.1 Legal Compliance

You must have legal capacity to use the Services and you must not impersonate any other person, misrepresent your identity or use an Account that does not belong to you.

4.2 KYC / AML Requirements

You may be required to provide: full name, date of birth, Bank Verification Number (BVN), National Identification Number (NIN), residential address, a photograph, a government-issued ID, a recent utility bill or bank statement and any other documentation we reasonably request for risk assessment.

4.3 Accuracy Warranty

You warrant that all information and documentation provided to us is true, correct and accurate. You must notify us promptly of any change and you authorise us to verify any information against third-party databases.

4.4 Verification Partners

We may share information with regulated identity, credit-reporting, banking and payments partners in order to verify your identity, assess your creditworthiness and process disbursements and repayments.

4.5 Personal Information

Verifiable personal information may include your name, phone number, date of birth, address, age, identification number, passport number and any other information required for KYC purposes.

4.6 Biometric Data

You consent to us collecting and verifying biometric data (including data obtained through facial-recognition and liveness-detection processes using your device's camera) for identity verification and fraud prevention.

4.7 Authorisation to Use Data

You authorise us to use the personal and biometric information you provide to the extent necessary for the provision of the Services. Biometric data may be shared with approved third parties for identity-verification and anti-fraud purposes.

4.8 Indemnity for Information Disclosure

You agree to indemnify and hold BCBL and its partners harmless from any claims, losses or liabilities arising from disclosures made under these Terms.

4.9 Authority to Act

You irrevocably authorise us to act on all requests made through your Account, although we may refuse to act or request additional confirmation.

4.10 Good-Faith Performance

We shall be deemed to have properly performed these Terms where we act in good faith on a request, even if that request later proves to be erroneous, forged or unauthorised.

4.11 Release and Indemnity

You release and indemnify BCBL against all claims, losses, damages, costs and expenses arising from our acting on your requests.

4.12 Court Orders and Regulatory Directives

We may comply with any court order, regulatory directive or lawful request. In the event of any conflict between a request from you and a lawful order, the lawful order will prevail.

5. Obtaining Loans

5.1 Loan Application

5.1.1 Application Process

You apply for a Loan through the App. If your application is approved, the funds are disbursed to your registered bank account.

5.1.2 Unsuccessful Applications

If your application is unsuccessful, we may explain the reason and the conditions under which you may reapply. You will be ineligible for a new Loan where you have defaulted on any previous Loan.

5.1.3 Discretionary Approval

We reserve the right to approve or decline any Loan application at our sole discretion, including where you have previously been granted Loans. Terms of each new Loan may vary based on our credit assessment.

5.1.4 Loan Terms Confirmation

The terms of each approved Loan are displayed in the App. You must confirm your acceptance of the terms by entering your T-PIN.

5.2 Credit Reference Bureaus

5.2.1 Credit Assessment

We may request information about you from licensed Credit Reference Bureaus for the purpose of assessing your creditworthiness and establishing a credit score.

5.2.2 Reporting

Loan transaction information, including any default or non-compliance, may be shared with Credit Reference Bureaus and applicable regulators.

5.3 Borrower Obligations

1. You undertake to repay all amounts due, including principal, interest, default interest (where applicable), fees, taxes and any other charges, on the agreed date and via the channels specified in the App.
2. You are responsible for every Loan disbursed to your Account.
3. You must ensure that your card or bank account is pre-funded on or before each repayment date. Where an attempt is unsuccessful, we may attempt to collect from other accounts you have linked.
4. You must not use the Loan proceeds for any illegal or criminal activity, including money laundering or the financing of terrorism.
5. You must provide all reasonable assistance in connection with the collection or realisation of any outstanding amount.

5.4 Interest and Fees

5.4.1 Fee Disclosure

Interest and any Transaction Fees due on your Loan will be displayed in the "Order History" section of the App before you accept the Loan. Changes to fees will be implemented only after reasonable notice.

5.4.2 Default Interest

If you fail to make any payment when due, we may apply default interest or penalty charges in accordance with applicable law.

6. Default on Loan

6.1 Events of Default

An Event of Default occurs where:

1. you fail to make payment on the scheduled repayment date;
2. any information provided by you is incorrect, inaccurate or misleading;
3. you act in any manner prejudicial to our rights;
4. you use the App for an unauthorised purpose;
5. you are declared bankrupt, insolvent or unable to pay your debts; or
6. you otherwise breach these Terms.

6.2 Remedies

On the occurrence of an Event of Default we may:

1. terminate these Terms;
2. declare the Loan immediately due and payable in full; and
3. report the default to Credit Reference Bureaus. Copies of the information reported will be made available to you on written request.

6.3 Assignment to Collection Agencies

We may assign our rights, title and interest in a Loan in default to an external collections agency and share relevant information with that agency.

6.4 Legal Proceedings

We reserve the right to institute legal proceedings without prior notice to recover any outstanding amount.

6.5 Default Notification

On the occurrence of an Event of Default we may contact you, and any other person who may reasonably assist with the recovery, by any appropriate means of communication.

7. Set-Off

7.1 Delinquency Reporting

Where a Loan becomes delinquent, we may report it to the Central Bank of Nigeria (CBN) through the Credit Risk Management System (CRMS) and request a regulatory directive for set-off against any other account you hold.

7.2 Authorisation

You covenant that BCBL shall have power to set off your indebtedness against any monies standing to your credit, to the extent permitted by law.

8. Third-Party Applications & Personal-Information Protection

8.1 Third-Party Integrations

Third-party applications may integrate with the Platform with our prior permission. You must also comply with the terms of the relevant third party. We assume no liability for third-party services.

8.2 Policy Changes

Changes to third-party service policies may affect their integration with the Platform. We assume no liability for such changes.

8.3 Due Diligence

You must understand the functions, terms and privacy policies of any third-party service you use, and you are responsible for protecting your device against viruses and malicious software.

8.4 Personal-Information Protection

Protecting user personal information is one of our fundamental principles. We apply encryption, anonymisation and other security measures as set out in our Privacy Notice.

8.5 Privacy Notice

See our Privacy Notice for full details on how we handle personal information.

8.6 Mobile Charges

Using the Services may consume your mobile data allowance. You are solely responsible for any charges imposed by your mobile operator.

9. Breach and Indemnity

9.1 Remedies for Breach

On any breach by you we may suspend or terminate part or all of the Services. You are solely responsible for any losses you incur as a result.

9.2 Third-Party Claims

You are solely responsible for any third-party complaint, litigation or claim arising from your breach of these Terms.

9.3 Indemnification

You will indemnify BCBL and its owners, directors, employees, partners, agents, operators, affiliates, licensors and licensees against all damages, compensation and penalties arising from your breach.

9.4 Excluded Liability

We are not liable for any claim arising from:

1. acting on your requests or purported requests;
2. malfunction, failure or unavailability of any hardware, software or equipment, power failures, natural phenomena, riots, acts of vandalism, sabotage or terrorism, or interruption or distortion of communication links;
3. unauthorised access to your Account, any breach of security or destruction of data;
4. failure or unavailability of third-party facilities or systems; or
5. any circumstance within your control.

10. Limitation of Liability

10.1 Non-Responsible Events

We are not responsible for interference with, or unavailability of, the Services resulting from failure of your Equipment, Force Majeure, errors or delays on the Network, terrorist action or loss of power.

10.2 App Purpose Disclaimer

The App has not been developed to meet your individual requirements. We have no liability for any loss of profit, business, business interruption or business opportunity.

10.3 Excluded Damages

We are not liable for:

1. loss of profit;
2. loss of opportunity;
3. loss of data;
4. indirect or consequential losses;
5. losses arising from modifications to the Services or mismanagement of Credentials;
6. defects arising from user-altered versions of the App;
7. insufficient funds in your account;
8. any system, equipment, network or payment-system failure; or
9. fraudulent or illegal use of the Services.

10.4 Technical Risk

We cannot foresee or prevent all technical risks, including service interruption caused by Force Majeure, viruses, trojans, hacking or system instability.

10.5 Liability Cap

Our aggregate liability to you shall be limited to the total amount paid by you to BCBL within the twelve (12) months preceding the event giving rise to the claim.

10.6 Awareness Irrelevance

These limitations apply whether or not we have been advised of, or should have been aware of, the possibility of any such losses.

10.7 Service Re-Establishment

Where the Services fail (other than for the reasons set out in clause 8.3), our sole liability is to restore the Services as soon as reasonably practicable.

10.8 Consequential Losses

We are not liable for any loss of profit, anticipated savings or any indirect or consequential loss.

11. Your Responsibilities

11.1 Equipment Maintenance

You must provide and maintain your Equipment in safe and good working order.

11.2 Equipment Performance

You are responsible for ensuring the proper performance of your Equipment. We are not responsible for any equipment malfunction or viruses. You must pay all charges imposed by your network operator.

11.3 Compliance with Instructions

You must follow all instructions, procedures and terms in these Terms and any other document we provide.

11.4 Credential Safekeeping

You are solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure. You indemnify BCBL against any loss arising from unauthorised disclosure of your Credentials.

11.5 Unauthorised-Use Detection

You must take reasonable precautions to prevent and detect unauthorised use of the Services and must review all communications from us promptly.

11.6 Immediate Notification

You must notify us immediately if your Credentials are compromised or if you suspect any unauthorised use of the Services. You must also follow any security procedures we communicate from time to time.

11.7 No Prejudicial Use

You may not operate the Services in any manner that may be prejudicial to BCBL.

12. Variation and Termination

12.1 Termination Rights

We may at any time, on notice to you, terminate or vary our relationship with you and close your Account. We may also suspend or close your Account in the following circumstances:

1. unauthorised use, abuse, fraud or attempted fraud;
2. to comply with any governmental, court, regulatory or other competent authority;
3. where we reasonably suspect a breach which is not remedied within five (5) days of notice;
4. technical issues, safety concerns or service maintenance;
5. illegal, fraudulent or otherwise suspicious activity; or
6. commercial or other reasonable grounds.

12.2 Accrued Rights

Termination does not affect any rights or liabilities that have accrued before termination. On suspension or closure, any outstanding Loan may become immediately due and payable.

12.3 Deceased Account Holder

On notice of your death, no operations will be permitted on your Account except upon production of administration letters or a grant of probate, as applicable.

13. Miscellaneous

13.1 Entire Agreement

13.1.1 Supersedence

These Terms and our Privacy Notice constitute the entire agreement between you and us and supersede all previous agreements.

13.1.2 Effect of Amendment

Earlier versions are automatically superseded when an amendment takes effect.

13.1.3 No Reliance

You acknowledge that you have not relied on any statement, representation, assurance or warranty not set out in these Terms or the Privacy Notice.

13.2 No Waiver and Severability

Our failure to enforce a provision is not a waiver of that provision. If any provision is held invalid, the remainder will continue in full force and effect.

13.3 Assignment

13.3.1 Your Rights

You may not assign any of your rights or delegate any of your obligations under these Terms without our prior written consent.

13.3.2 Our Rights

We may assign our rights and obligations to affiliates, or in the context of a merger, acquisition or reorganisation, without your consent but on reasonable notice.

13.4 Taxes

13.4.1 Tax Calculation

Payments may be calculated excluding taxes. You must pay any applicable taxes and ensure that we receive the amount intended in full.

13.4.2 Withholding

You consent to our withholding any amount required by a tax authority or by law, subject to notification.

13.4.3 Gross-Up

All payments must be made in full, without set-off or counterclaim, and free of any deduction unless required by law.

13.5 General

13.5.1 Cumulative Rights

Partial exercise of a right does not preclude further exercise. Failure to enforce a right is not a waiver.

13.5.2 Severability

Invalid provisions do not affect the remaining terms, which remain fully enforceable.

13.6 Dispute Resolution and Governing Law

13.6.1 Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria and the Nigerian courts have exclusive jurisdiction.

13.6.2 Good-Faith Resolution

The parties shall use their good-faith efforts to resolve any dispute, controversy or claim arising out of these Terms.

14. BCBL Account & Loan Terms

14.1 The Agreement

Applicability

These additional terms apply to BCBL Loans approved by us and to any credit limits credited to your BCBL Account. Where these additional terms conflict with our general Terms of Use, our general Terms of Use prevail.

14.2 Definitions

• BCBL Account — the revolving-credit account you hold with BCBL;
• T-PIN — your secret transaction PIN used to confirm Loans;
• Identity Verification Process — the electronic process by which we verify your identity;
• Application Process — an electronic application submitted through the App and confirmed with your T-PIN;
• Customer Care Centre — our contact-support channels;
• Credit Limit — a virtual revolving credit limit we calculate for you, which we may recalculate based on your repayment history;
• Loan Amount — the amount credited to your BCBL Account, net of any service fee;
• Interest — the fixed percentage interest applicable to the Loan amount and term, set out in your Personal Pricing Plan;
• Personal Pricing Plan ("PPP") — the document detailing the Loan, its amount and repayment terms;
• Repayment Amount — the total amount repayable by you, including fees and interest;
• Repayment Date — the date set out in your PPP or otherwise notified to you;
• Service Fee — a one-off fixed fee deducted at disbursement or repayment for administrative costs.

14.3 Acceptance

By entering your T-PIN you consent to our receipt and use of your personal information (including mobile number, name, date of birth and identification information) and of data relating to your use of the Services. Your continued use of the BCBL Account after any amendment constitutes acceptance of the revised terms.

14.4 Application for a Credit Limit and Loan

1. Eligibility. You must have legal capacity, be of sound mind, be at least 18 years old and be a Nigerian citizen. We may verify your identity with third parties.
2. Limit approval. Your Credit Limit is approved based on your personal information and third-party data. We may re-score your Credit Limit from time to time based on your repayment history or behaviour.
3. Loan eligibility. You may apply for a Loan once a Credit Limit has been approved.
4. Third-party disclosure. You authorise us to disclose your information to third parties for the purposes of the Services.
5. No pre-disbursement contract. Our acceptance of your Application does not create a contractual relationship until the Loan has been disbursed.
6. Discretionary approval. We may decline any Application at our sole and absolute discretion, without giving reasons.

14.5 Loan Operations

1. You apply for a Loan through the Application Process.
2. You confirm your acceptance of the PPP by entering your T-PIN.
3. Approval is notified by SMS, App notification or email, setting out the disbursement and applicable fees.
4. The Customer Care Centre can explain any fee calculation on request.

14.6 Disbursement

1. Timeline. Once you accept the terms of your Credit Limit, the limit is credited to your BCBL Account within 120 minutes of notification.
2. Confirmation. After the Loan is disbursed to your bank account, we confirm the disbursement and Repayment Amount by SMS.
3. Interest. In consideration for the Loan you agree to pay the Interest set out in your PPP.
4. Automatic debit. We are entitled, under prior arrangement with you, to directly debit your bank account or card on the Repayment Date.
5. Multiple accounts. You may link multiple bank accounts or cards. We will attempt to debit the Repayment Amount from them in sequence on the Repayment Date.

14.7 Termination (Events of Default)

We may terminate the Agreement if:

1. you fail to pay within five (5) days after the Repayment Date;
2. you fail to comply with any condition of this Agreement;
3. you become insolvent or unable to pay your debts;
4. you die;
5. you become mentally incapacitated or otherwise legally disabled;
6. your bank account is terminated; or
7. you make any untrue or incorrect statement or fail to make full disclosure.

On termination, all outstanding Repayment Amounts become immediately due and payable in full.

14.8 Fees, Interest and Other Charges

The Service Fee is deducted from the Loan prior to disbursement. Any other Transaction Fees are included in the Repayment Amount as set out in your PPP.

14.9 Intellectual Property

You acknowledge that the intellectual-property rights in the BCBL system vest in us or in our licensors. You may not duplicate, reproduce or tamper with them without our prior written consent.

14.10 Disclosure of Information

You authorise BCBL to disclose information about your Account and use of the Services:

1. to law-enforcement agencies or regulators for crime or fraud prevention;
2. to service providers, agents or related companies for commercial purposes;
3. to Credit Reference Bureaus;
4. to lawyers, auditors or professional advisers in connection with legal or regulatory proceedings;
5. for marketing, research and other commercial purposes; and
6. for quality control, training and operational effectiveness.

You waive any rights or claims you may have against us relating to such disclosures.

14.11 Miscellaneous

Non-Assignment

You may not assign this Agreement to any other person.

No Waiver

No failure or delay in exercising a right shall operate as a waiver of that right.

Cumulative Rights

The rights and remedies in this Agreement are cumulative and not exclusive.

Severability

If any provision is held invalid, the remaining provisions remain fully enforceable.

14.12 Notices

We may send information concerning your BCBL Account by SMS, push notification or email to the contact details you provided during registration.

14.13 Dispute Resolution

1. Customer care first. Report any dispute or discrepancy to our Customer Care Centre.
2. Arbitration. Any unresolved dispute may be referred to arbitration by a single arbitrator, appointed by agreement of the parties or, failing agreement within sixty (60) days, on the application of either party.
3. Governing law. This Agreement is governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

Privacy Notice (Summary)

BCBL processes personal information in accordance with the Nigeria Data Protection Act and the Nigeria Data Protection Regulation (NDPR). We collect information that is necessary to provide the Services, including identification data, contact data, financial data, device data and biometric data where required for verification. We use your information to assess creditworthiness, prevent fraud, deliver the Services and comply with applicable law. We share information only with regulated partners (including Credit Reference Bureaus, banks, payment processors and identity-verification providers) to the extent necessary, and we do not sell your personal data. You have the right to access, correct or delete your personal data, subject to regulatory retention obligations, by writing to contact@bcbl.ng. A full Privacy Notice is available on request.

Contact

For any questions about these Terms or your Account, please contact us at contact@bcbl.ng.