What you are agreeing to, before you agree.

01Why you are being asked to consent

Before CredaFi Limited or its licensed partners can open, verify or service an account for you, Nigerian law requires that your identity be confirmed and monitored. This disclosure explains, in plain language, exactly what you are agreeing to when you accept our onboarding prompts, and it is the notice required by section 27 of the Nigeria Data Protection Act 2023.

Consent is requested separately for each purpose that depends on it. Verification and screening required by law are carried out on the basis of legal obligation rather than consent, which means we cannot switch them off and still open your account.

02The consent statement you will see at onboarding

"I confirm that I am at least 18 years old, that the information I have provided is true and belongs to me, and that I am acting for myself and not for an undisclosed third party. I authorise CredaFi Limited and its licensed partners to verify my identity using my BVN, NIN and government-issued identification, to perform a liveness or selfie check, to screen me against sanctions and watchlists on an ongoing basis, and to process my personal data as described in the CredaFi Privacy Policy, Terms of Service and E-Wallet / Payment Services Agreement. I understand which consents are optional and that I may withdraw them at any time."

03Identity data we verify, and why

04Who receives your verification data

We never sell your identity data, never use your BVN or NIN for marketing, and never share biometric data with advertisers or data brokers.

• Authorised identity verification providers licensed to perform BVN and NIN lookups, strictly for the verification requested.
• The CBN-licensed partner institution that will issue your wallet and hold your funds, and which is legally required to complete its own KYC on you.
• Sanctions, PEP and adverse-media screening providers, on an ongoing basis for as long as your account is open.
• Regulators and authorities — CBN, NFIU, EFCC, NDPC, courts and law enforcement — where the law obliges us to report or disclose.

05Ongoing AML/CFT monitoring you are consenting to

• Continuous screening against sanctions lists, politically-exposed-person lists and watchlists throughout the life of your account.
• Automated monitoring of transaction patterns and velocity for indicators of money laundering, terrorism financing, fraud or coercion.
• Enhanced due diligence where your profile or activity is higher risk, which may require further documents before transactions continue.
• Filing of suspicious transaction reports with the NFIU where required. Nigerian law may prohibit us from telling you that such a report has been made.
• Record keeping for a minimum of 7 years after your relationship with us ends, as required by CBN AML/CFT rules — this obligation survives any deletion request.

06Tiered KYC and what it unlocks

You choose how far to verify. Declining a higher tier is not a penalty — it simply limits the features and limits available to you.

07Cross-border consent

For a cross-border payment within a supported West African corridor, you additionally consent to your name, phone number, and the purpose and details of the transaction being shared with the receiving institution, correspondent partners and destination-country regulators where their law requires it. This is a transfer of personal data outside Nigeria and is made under the safeguards described in our Privacy Policy — necessity for performance of your instruction, adequacy assessment, or NDPC-recognised standard contractual clauses.

08Optional consents you can decline

• Marketing and product updates by WhatsApp, SMS or email — decline or withdraw at any time without any effect on your account.
• Analytics and marketing cookies on our website — see our Cookies Policy.
• Optional data sharing with non-essential third-party partners for offers or benefits.

09Automated processing

Certain checks, such as fraud-risk screening and spending insights, may be produced automatically from your transaction behaviour and the data you provide. You have the right to ask for human review within 14 days, to have the logic explained in plain language, and to contest a decision with additional information.

10Withdrawing consent

• You may withdraw optional consents at any time, in the chat or by writing to us, with no effect on the lawfulness of prior processing.
• Withdrawing consent to identity verification, biometric checks or AML screening means we cannot lawfully continue to service a wallet for you, and your account will be closed and any remaining balance returned to a bank account in your verified name after outstanding obligations and checks.
• Statutory retention obligations continue to apply to records already created, even after withdrawal or closure.

11Your rights and how to complain

You may request access, rectification, erasure (subject to legal retention), portability, or object to processing. Contact our Data Protection Officer at privacy@usecredafi.com.ng, WhatsApp +234 816 994 5302, or the Help & Support line +234 816 994 5302. We acknowledge within 72 hours and respond fully within 30 days.

If you are dissatisfied, you may complain to the Nigeria Data Protection Commission (NDPC) at www.ndpc.gov.ng, and to the CBN Consumer Protection Department for matters concerning your account or transactions.

12Fraud warning

• CredaFi will never ask you for your PIN, password or a one-time password — not by call, chat, email or in person.
• CredaFi will never ask you to pay a fee to a personal account to release a transfer.
• Verification requests will only ever come through our official WhatsApp channel and support line published on this website.
• Report anything suspicious immediately to support@usecredafi.com.ng or +234 816 994 5302.