Terms of Use ('Terms')

These Terms serve as the agreement between you and the Company about your use of our Platform.

Your access to and use of the Platform is conditioned on your acceptance of and compliance`` with these Terms. These Terms apply to all visitors, users and others who access or use the Platform.

By accessing or using the Platform you agree to be bound by these Terms. If you disagree with any pa`rt of these Terms, then you may not access the Platform.

You represent that you are over the age of 18. The Company does not knowingly permit those under 18 (eighteen) to use the Platform.

Your access to and use of the Platform is also conditioned on your acceptance of and compliance with the Privacy Notice of the Company. Our Privacy Notice describes our policies and procedures on the collection, protection, use and disclosure of your personal data when you access our Services etc.

For the purposes of these Terms:

• 'Affiliate' means an entity that controls, is controlled by or is under common control with a party, where 'control' means ownership of 50% or more of the shares, equity interest or other securities entitled to vote for election of directors or other managing authority.
• 'Account' means a unique account created for you to access our Service or parts of our Platform.
• 'Company' (referred to as either 'the Company', 'we', 'us' or 'our' in this Agreement) refers to Mona Financial Technology Limited (operating under the name and brand of 'Mona') or any of its subsidiaries.
• 'Country' refers to the Federal Republic of Nigeria.
• 'Content' refers to content such as text, images, or other information that you share with us or upload, or otherwise made available by you, regardless of the form of that content.
• 'Device' means any device that can access the Platform such as a computer, a cell phone or a digital tablet.
• 'Feedback' means feedback, innovations or suggestions sent by you regarding the attributes, performance or features of our Platform.
• 'Platform' refers to http://www.mona.ng/ or the Mobile App
• 'Services' refers to the payment checkout and loan products offered by Mona, either online or offline.
• 'Website' refers to http://www.mona.ng/ and any failover site that is owned and operated by Mona for the Services.
• 'you' means the individual accessing or using the Platform, or the company, or other legal entity on behalf of which such individual is accessing or using the Platform, as applicable.

You can access the financial services we provide, subject to your fulfillment of our on-boarding and Know-Your-Customer (KYC) checks in line with applicable laws. For a start, you must be at least 18 years old, a Nigerian citizen, and have not yet opened an account with us.

To create an account with us, you must provide us information that is accurate, complete, and current at all times. Failure to do so constitutes a breach of the Terms and extant know-your-customer (KYC) regulations, which may result in immediate termination of your account on our Platform.

We do not knowingly engage with people who don't meet these conditions. Please note that these requirements may be updated or reviewed from time to time in line with applicable laws and our internal processes.

When you choose to open an account with us you agree to us using your information to make and receive payments on your behalf through your Mona account. If you would like us to stop doing this, we would have to close your account.

You are responsible for safeguarding the password that you use to access the Platform and for any activities or actions under your password. You agree not to disclose your password to any third party. you must notify us immediately upon becoming aware of any breach of security or unauthorized use of your account.

You may not use as the details of another person or entity to create an account for yourself or another, unless you have been expressly authorised to. You may not use as the details of another person or entity that is not lawfully available for use, a name or trademark that is subject to any rights of another person or entity other than you without appropriate authorisation, or a name that is otherwise offensive, vulgar or obscene.

In addition to all transactions that are ordinarily prohibited by Nigerian law and activities not expressly permitted under these terms and conditions or any other terms we provide to you in connection with any services we provide, you are expressly prohibited from using your account to carry out transactions relating to any of the following:

• fraud, money laundering and terrorism financing;
• activity related to the making or receiving of payments relating to cryptocurrency and related digital currency transactions;
• any goods or services that are dangerous, violent, or present an unreasonable risk to consumer safety (e.g., firearms, weapons, explosives, ammunition, and related accessories.)
• activities related to pornography, pornographic subscriptions, prostitution, pay-per view, adult live chat, escort or companionship services, or any other obscene materials (including literature, imagery, and other media); any product or service that promotes underage, non-consensual, or other illegal sexual themes. Activity involving child endangerment, including anything that sexualizes minors or appeals to children but contains adult themes;
• activities with elevated financial risk, legal liability, or violates card network rules or bank policies. Activity involving unlawful or illegal goods or services, including any federal or state law, statute, regulation, or ordinance. Activity related to bribes and corruption Activity that may be in violation of applicable laws. Activity relating to unlicensed and illegal sports betting, casino games and poker games;
• pyramid selling or Ponzi schemes, or other 'get rich quick' schemes; and
• any activities we notify you are prohibited.

If you use or attempt to use your account for any Prohibited Transactions or such other unlawful purposes, we reserve the right, without liability to:

• restrict your account;
• refuse to process the transaction;
• report the transaction to the relevant regulator or law enforcement agency; and
• take any other lawful step in accordance with our regulatory obligations.

To comply with relevant AML obligations, we may request information on the transactions carried out on your Account such as:

• details of the recipient
• source of funds being transferred
• purpose of the transfer or payment being made

You confirm that you will provide all requested information required in respect of the transaction in this regard.

You also agree that we may cancel any transaction, suspend your Account or refuse to open an Account in your name if you refuse to provide the requested information or if any information provided is untrue or inaccurate.

Please note that for certain transactions, we or our Third-Party Partners may be required to file AML or related reports (without notice to you) with the relevant regulators. These reports may include details of your personal information, transactions or other activities relating to your Account.

In line with regulations, we perform due diligence on all accounts so it is your responsibility to ensure that all information and documents you provide to us are up-to-date on your profile at all times.

To enable us to comply with our Know Your Customer ('KYC') and Anti-Money Laundering ('AML') obligations, we may require you to provide any or all the following:

• your full name;
• your phone number,
• a valid email address;
• your date of birth;
• your Bank Verification Number ('BVN');
• your National Identification Number ('NIN')
• your current residential address;
• your picture;
• copy of a valid Government issued ID (national ID, international passport, permanent voter's card or driver's license);
• a copy of a recent utility bill or such other bills not older than three months of our request, which carries your name and the residential address you have provided; and
• any other information or document as we may require for our internal risk assessment.

You may also be required to provide us with one or more answers to security questions that will be used as part of this process.

You undertake that all information and documents which you present to us are true, accurate and up to date. If, at any point during the term of the Agreement, any of the information and documents presented to us should change or you identify that they were false, inaccurate and / or incorrect in any form, then you shall promptly present us with the respective updated information and documents.

To verify the accuracy and authenticity of the information and documents you provide to us, we will need to share them them with third parties (including government agencies). You hereby agree and authorise Mona to verify information provided by you against the information held by any third party (including official databases).

You also agree and authorise Mona to obtain and procure your personal information and documents 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.

You agree to indemnify and hold Mona 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 provided by you.

We also may contact you to update your identification documents or information at any time and you are bound by these terms to continue to provide us with correct and up-to-date information to ensure the continuous usage of your Mona account. We may also contact third parties to collect and / or verify the information and documents presented by you. We may limit / restrict your usage of your Mona Account until such collection of information and / or verification is completed.

You undertake that all information and documents which you present to us are true, accurate and up to date. If, at any point during the term of the Agreement, any of the information and documents presented to us should change or you identify that they were false, inaccurate and / or incorrect in any form, then you shall promptly present us with the respective updated information and documents.

If your application to open an account is successful, we will open an account in your name and send you a confirmation through the App and or via email. Once we have activated the full functionality of your account you may login to access your account via the App or through our website.

The Company is not responsible for the content of the Platform's users, especially where communicating with us or others on and/off the Platform. you expressly understand and agree that you are solely responsible for the Content and for all activity that occurs under your account, whether done so by you or any third person using your account.

You may not transmit any Content that is unlawful, offensive, upsetting, intended to disgust, threatening, libelous, defamatory, obscene or otherwise objectionable. Examples of such objectionable Content include, but are not limited to, the following:

• Unlawful or promoting unlawful activity.
• Defamatory, discriminatory, or mean-spirited content, including references or commentary about religion, race, sexual orientation, gender, national/ethnic origin, or other targeted groups.
• Spam, machine – or randomly – generated, constituting unauthorized or unsolicited advertising, chain letters, any other form of unauthorized solicitation, or any form of lottery or gambling.
• Containing or installing any viruses, worms, malware, trojan horses, or other content that is designed or intended to disrupt, damage, or limit the functioning of any software, hardware or telecommunications equipment or to damage or obtain unauthorized access to any data or other information of a third person.
• Infringing on any proprietary rights of any party, including patent, trademark, trade secret, copyright, right of publicity or other rights.
• Impersonating any person or entity including the Company and its employees or representatives.
• Violating the privacy of any third person.
• False information and features.

The Company reserves the right, but not the obligation, to, in its sole discretion, determine whether or not any Content is appropriate and complies with these Terms, refuse or remove this Content. The Company can also limit or revoke the use of the Platform if you post such objectionable Content. You agree that under no circumstances will the Company be liable in any way for any content, including any errors or omissions in any content, or any loss or damage of any kind incurred as a result of your use of any content.

Although regular backups of Content are performed, the Company does not guarantee there will be no loss or corruption of data.

Corrupt or invalid backup points may be caused by, without limitation, Content that is corrupted prior to being backed up or that changes during the time a backup is performed.

The Company will provide support and attempt to troubleshoot any known or discovered issues that may affect the backups of Content. But you acknowledge that the Company has no liability related to the integrity of Content or the failure to successfully restore Content to a usable state.

You agree to maintain a complete and accurate copy of any Content in a location independent of the Platform.

Our Intellectual Property

The Platform and its original content (excluding Content provided by you or other users), features and functionality are and will remain the exclusive property of the Company and its licensors.

The Platform is protected by copyright, trademark, and other laws of both the Country and foreign countries.

Our trademarks and copyrighted materials may not be used in connection with any product or service without the prior written consent of the Company.

Intellectual Property Infringement

We respect the intellectual property rights of others. It is our policy to respond to any claim that Content shared with/on the Platform infringes a copyright or other intellectual property infringement of any person.

If you are a copyright owner, or authorized on behalf of one, and you believe that the copyrighted work has been copied in a way that constitutes copyright infringement that is taking place through the Platform, you must submit your notice in writing to dpo@mona.ng and include in your notice a detailed description of the alleged infringement.

You may be held accountable for damages (including costs and attorneys' fees) for misrepresenting that any Content is infringing your copyright.

Our Platform may contain links to third-party web sites or services that are not owned or controlled by the Company.

The Company has no control over, and assumes no responsibility for, the content, privacy policies, or practices of any third-party web sites or services. you further acknowledge and agree that the Company shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods or services available on or through any such web sites or services.

We strongly advise you to read the terms and conditions and privacy policies of any third-party web sites or services that you visit.

We may terminate or suspend your Account immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach these Terms.

Upon termination, your right to use the Platform will cease immediately. If you wish to terminate your Account, you may do so by reaching us at support@mona.ng.

The Platform is provided to you 'AS IS' and 'AS AVAILABLE' and with all faults and defects without warranty of any kind. To the maximum extent permitted under applicable law, the Company, on its own behalf and on behalf of its Affiliates and its and their respective licensors and service providers, expressly disclaims all warranties, whether express, implied, statutory or otherwise, with respect to the Platform, including all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement, and warranties that may arise out of course of dealing, course of performance, usage or trade practice.

Without limitation to the foregoing, the Company provides no warranty or undertaking and makes no representation of any kind that the Platform will meet your requirements, achieve any intended results, be compatible or work with any other software, applications, systems or services, operate without interruption, meet any performance or reliability standards or be error free or that any errors or defects can or will be corrected.

If any provision of these Terms is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.

Except as provided herein, the failure to exercise a right or to require performance of an obligation under these Terms shall not affect a party's ability to exercise such right or require such performance at any time thereafter nor shall the waiver of a breach constitute a waiver of any subsequent breach.

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. If a revision is material We will make reasonable efforts to provide at least 30 days' notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion.

By continuing to access or use our Platform after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, in whole or in part, please stop using the Platform or Service.