Terms of Service

1. About NairaCircle

NairaCircle is a digital platform designed to help people organise and participate in community savings arrangements, commonly known as Ajo, Esusu, or Adashe. Depending on the features available, the platform may provide tools for creating savings circles, inviting members, recording contributions, organising payout information, sending notifications, and completing identity verification.

NairaCircle's registration and legal entity details must be confirmed in the final published version of these terms. These terms do not, by themselves, establish that NairaCircle is a licensed bank, deposit-taking institution, payment service provider, or investment provider.

2. Accepting these terms

By accessing or using NairaCircle, you agree to these Terms of Service and the applicable policies referenced here, including our Privacy Policy. Additional terms may apply to particular features or third-party services where they are clearly presented to you.

If you do not agree to these terms, do not create an account or use the service. Where the law requires a particular form of consent or agreement, the applicable requirements must also be satisfied.

3. Eligibility and accurate information

You must meet the eligibility requirements communicated by NairaCircle and be legally permitted to use the relevant features in your location. The minimum age and any additional eligibility conditions must be confirmed in the final published terms and enforced by the service.

You agree to provide information that is accurate, current, and complete when creating or maintaining an account, participating in a circle, or completing verification. You must update information when it changes and must not impersonate another person or use someone else's identity without lawful authority.

4. Your account and security

You are responsible for protecting your login credentials, devices, and account access information. Do not share passwords, verification codes, or other security credentials with anyone who is not authorised to receive them.

Notify NairaCircle promptly if you suspect unauthorised access, fraudulent activity, or misuse of your account. NairaCircle may take reasonable protective measures, including temporarily restricting access while a security concern is investigated.

You must not attempt to bypass security controls or access another person's account or information without permission.

5. Creating and joining savings circles

NairaCircle provides tools that may help users create, discover, join, and manage community savings circles. The available options may include contribution amounts, contribution frequency, membership limits, start dates, and payout arrangements.

Before joining a circle, you should review its rules and understand the amount you are expected to contribute, how often contributions are due, the expected payout order, and any other obligations communicated to members.

Circle creators are responsible for setting out the proposed arrangements accurately. Members should review and understand those arrangements before agreeing to participate. Changes affecting members' obligations should be communicated clearly and handled in accordance with the circle's agreed rules and applicable law.

6. Contributions and missed payments

When you join a savings circle, you are responsible for meeting the contribution commitments you have agreed to, subject to the circle's rules and applicable law. You should make contributions by the agreed deadlines and check the relevant payment instructions before sending money.

Missing, delaying, or failing to complete an agreed contribution may affect other members and the circle's operation. If you expect to miss a payment, communicate with the relevant circle members as early as reasonably possible.

Any late fees, penalties, grace periods, collection processes, or other consequences must be clearly established in the applicable circle rules or separate terms before they are enforced. NairaCircle does not impose an unstated fee or penalty merely because a member has missed a contribution.

Contribution records displayed on the platform are intended to help members track circle activity. If a record appears incorrect, contact the relevant support channel and provide the information reasonably needed to investigate it.

7. Payouts and payout order

Payout positions and schedules should be understood in accordance with the arrangements agreed by the members of the relevant circle. A displayed payout position is not, by itself, a guarantee that money has been received or that a payout will occur at a particular time.

Payout timing may depend on members fulfilling their contribution commitments, accurate recipient details, verification requirements, payment provider processing, operational checks, and other circumstances outside the platform's direct control.

Before joining a circle, make sure you understand how payout positions are determined and what happens if contributions are delayed. Any payout guarantee, service commitment, or remedy must be expressly stated in the applicable terms; it should not be inferred from a screen, notification, or estimated date alone.

8. Payments and third-party financial services

Depending on the features made available, NairaCircle may provide payment-related information or integrate with third-party financial or payment service providers. The specific payment flow, provider responsibilities, fees, and applicable regulatory arrangements must be communicated clearly before a relevant transaction is initiated.

Do not assume that funds shown in a circle record are held by NairaCircle or that a record alone proves a completed transfer. Follow the payment instructions provided for the relevant transaction and retain any available transaction reference or receipt.

If you believe a payment was duplicated, sent to the wrong recipient, delayed, or incorrectly recorded, report the issue promptly through the applicable support channel. Resolution may require checks with the relevant payment provider or financial institution.

9. Identity verification

Certain features may require identity verification or additional checks to support account security, prevent fraud, meet legal obligations, or protect the service and its users. You agree to provide accurate information reasonably required for a verification process that applies to you.

Depending on the process used, verification may involve identity details, identification numbers or documents, contact details, or liveness checks. Information may be processed by authorised verification providers in accordance with the NairaCircle Privacy Policy and the applicable provider terms.

Verification may be unsuccessful or require additional information. Where permitted and appropriate, NairaCircle may restrict features while a required verification remains incomplete or a material discrepancy is investigated.

10. Circle member conduct and privacy

Members should communicate respectfully, provide truthful information, and follow the arrangements agreed by their circle. Harassment, threats, deception, impersonation, fraudulent conduct, or deliberate misuse of the platform is not permitted.

You must handle information about other members responsibly. Do not disclose another member's personal, identity, contact, or financial information outside the context in which it was made available unless you have an appropriate lawful basis or permission to do so, or disclosure is otherwise legally required.

Information visible to members may vary by feature and circle. Do not assume that information shared within a circle is intended for unrestricted public distribution.

11. Disputes and complaints

If a disagreement arises about contributions, payout order, circle rules, or another member's conduct, members should first review the applicable circle arrangements and communicate respectfully where it is safe and appropriate to do so.

You may contact NairaCircle to report a platform issue, suspected fraud, a security concern, or a complaint about the service. Please provide relevant details and any available transaction references, while avoiding the unnecessary transmission of passwords or other security credentials.

NairaCircle may review reports and take action within the scope of its service and authority. A report to NairaCircle does not guarantee recovery of money, resolution of a disagreement between members, or a particular outcome. The formal complaint-handling process and any applicable escalation routes must be confirmed before public launch.

12. Acceptable use

You agree not to misuse NairaCircle or use the service for unlawful, fraudulent, deceptive, abusive, or unauthorised activities. In particular, you must not:

• Provide false or misleading information.
• Impersonate another person or organisation.
• Use another person's account or identity without appropriate authority.
• Attempt to gain unauthorised access to accounts, systems, or information.
• Interfere with the security, integrity, or normal operation of the service.
• Use the platform to facilitate fraud, money laundering, or other unlawful activity.
• Circumvent verification, security, or other reasonable safeguards.
• Harass, threaten, deceive, or deliberately harm other users.

13. Service availability and changes

We aim to keep NairaCircle available and reliable, but we cannot guarantee uninterrupted or error-free operation. Maintenance, software updates, network problems, security incidents, and third-party interruptions may temporarily affect access to some features.

We may add, change, suspend, or discontinue features where reasonably necessary for operational, security, legal, or product reasons. Where a change materially affects users, we will provide notice when appropriate and as required by applicable law.

14. Suspension and termination

NairaCircle may restrict, suspend, or terminate access where reasonably necessary because of suspected fraud, unlawful activity, security risks, material violations of these terms, or other legitimate operational or legal concerns.

Where appropriate and legally permitted, we will provide notice and information about any available review process. Immediate protective action may be necessary where delay could create a security, fraud, or legal risk.

Closing or suspending an account does not automatically cancel outstanding commitments between circle members or determine who is entitled to money. Any outstanding contributions, pending payments, records, or disputes must be handled in accordance with applicable law and the relevant circle and payment arrangements.

15. Intellectual property

NairaCircle's name, branding, logo, website design, software, and other content are owned by or licensed to the relevant rights holder, unless otherwise stated.

You may use the service for its intended purposes. You must not copy, modify, distribute, sell, or commercially exploit NairaCircle's protected content or branding without appropriate permission, except where permitted by applicable law.

16. Disclaimers and responsibilities

NairaCircle provides technology and organisational tools for community savings. Unless expressly stated in a separate agreement, the platform is not a guarantee that every member will contribute, that every payout will be made on time, or that a circle will be free from disputes or losses.

Information on the website or service is not a substitute for personal financial, legal, or investment advice. You should assess whether a savings arrangement is appropriate for your circumstances and consider the risks before joining.

Nothing in these terms removes responsibilities that NairaCircle has under applicable law or any express commitment it makes in a separate agreement.

17. Limitation of liability

To the extent permitted by applicable law, NairaCircle is not responsible for losses caused by events outside its reasonable control, including network failures, third-party service interruptions, or the independent actions or omissions of other circle members.

You are responsible for protecting your account credentials and checking transaction details before confirming a payment. This does not exclude responsibility that applicable law places on NairaCircle for its own acts or omissions.

Nothing in these terms is intended to exclude or restrict liability, consumer rights, or other protections that cannot lawfully be excluded or restricted. The final wording of this section requires review under applicable Nigerian law.

18. Privacy and personal information

Our collection and use of personal information are described in the NairaCircle Privacy Policy. By using the service, you acknowledge that you have been given access to that policy. Where consent or another specific legal basis is required, the applicable legal requirements must be met separately.

Please review the Privacy Policy to understand the types of information that may be processed, the purposes of processing, relevant service providers, and the rights available to you.

19. Changes to these terms

We may update these Terms of Service to reflect changes to NairaCircle, its features, security practices, or applicable legal requirements. The updated version will state its effective date.

Where appropriate, we will provide notice of material changes before they take effect. If a change requires your express agreement under applicable law, we will seek that agreement in the required manner.

20. Governing law and disputes

The governing law, competent courts, and any applicable dispute-resolution process must be confirmed in the final version of these terms with qualified Nigerian legal advice. Any final provision must respect mandatory legal protections and rights that apply to users.

Nothing in these terms prevents a user from exercising a statutory right or making a complaint to a relevant regulator or other competent authority where permitted by law.

21. Contact

If you have questions about these Terms of Service or need to report an issue with the service, contact NairaCircle using the details below.