1.3 You are responsible for keeping your Account information accurate, complete and up-to-date. You must notify us immediately if there is any change in your Account information.

1.4 You are also responsible for keeping your password, PIN and other security features of your Account confidential and secure. You must not share them with anyone else or allow anyone else to access or use your Account. You must notify us immediately if you suspect any unauthorized access or use of your Account.

1.5 We reserve the right to suspend or terminate your Account at any time if we believe that you have breached these Terms or any applicable law or regulation.

2.1 IneMoni provides various financial services, including but not limited to banking services, agency banking, cross-border payment, international payment, virtual card, savings, loan, and bill payments.

2.2 IneMoni offers its services through the IneMoni mobile app and web app, which allow you to access and manage your account.

2.3 IneMoni may introduce new services or modify existing services from time to time, and these Terms shall apply to any additional or modified services.

3.1 IneMoni provides IneMoni POS terminals to authorized agents and merchants for agency banking and business purposes.

3.2 The IneMoni POS terminals can be obtained either through a caution fee or outright sales.

3.3 For caution fee-based POS, 50% of the caution fee is refundable upon the return of the POS in good condition. The remaining 50% is non-refundable.

3.4 Agents and merchants who obtain the IneMoni POS on caution fee are required to meet a daily target set by IneMoni. Failure to meet the target may result in the retrieval of the POS without a refund of the caution fee.

3.5 For outright sales, the IneMoni POS terminal belongs to the agent or merchant, and no caution fee is applicable.

3.6 The User acknowledges that IneMoni provides terminals for the purpose of facilitating payment transactions. IneMoni may charge a caution fee for providing the terminal to the User. The User agrees to pay the caution fee as specified by IneMoni.

3.7 In the event that the User keeps the terminal inactive for a continuous period of 6 months, IneMoni reserves the right to debit the Agent/Merchant the original cost of the terminal. This is to ensure that the terminal is utilized efficiently and to cover any potential losses incurred by IneMoni.

3.8 The User shall be responsible for the maintenance and proper handling of the terminal provided by IneMoni. The User shall not tamper with or modify the terminal in any way without the explicit written consent of IneMoni.

3.9 IneMoni reserves the right to charge the User for any damages or repairs required due to mishandling or negligence on the part of the User. The User agrees to reimburse IneMoni for any costs associated with repairing or replacing the terminal, as deemed necessary by IneMoni.

3.10 The User acknowledges that the terminal provided by IneMoni and gotten by the users on caution fees remains the property of IneMoni at all times. The User shall not sell, transfer, or assign the terminal to any third party without the prior written consent of IneMoni.

3.11 IneMoni reserves the right to suspend or terminate the User’s access to its services, including the use of the terminal, in the event of non-compliance with these terms and conditions or any applicable laws or regulations.

3.12 The User agrees to use the terminal solely for the purpose of accepting payments from customers in a lawful and ethical manner. The User shall not engage in any fraudulent or illegal activities while using the tterminal.

3.13 IneMoni shall not be liable for any losses, damages, or claims arising out of the use or inability to use the terminal, except as expressly stated in any separate agreement between IneMoni and the User.

4.1 You agree to use the IneMoni services in compliance with all applicable laws, regulations, and these Terms.

4.2 You are responsible for maintaining the confidentiality and security of your account credentials, including your username, password, and any other login information.

4.3 You shall not share your account credentials with any third party or allow unauthorized access to your account.

4.4 You agree to promptly notify IneMoni of any unauthorized access or use of your account or any other security breach.

5.1 You are responsible for the payment of all applicable fees. All charges applicable to the use of the APP are set forth in a separate fee schedule and as may be published from time to time by Inemoni and are subject to change at any time at Inemoni sole discretion.

5.2. All fees are deducted at source and are subject to change at any time at Inemoni’s sole discretion.

5.3. Fees payable on each transaction will be deducted from your Inemoni Wallet at the completion of each transaction. Your new balance on completion of the transaction shall be notified to you by SMS.

5.4. Except as may otherwise be notified, fees are inclusive of all applicable taxes including Value Added Tax at the prevailing rate.

6.1 We may impose limits and restrictions on your Transactions, such as minimum or maximum amount, frequency or duration. The limits and restrictions may vary depending on the type of Transaction, your KYC level, your Account activity, our risk assessment or other factors. We will notify you of the applicable limits and restrictions before you perform a Transaction. You agree to comply with the limits and restrictions as notified by us.

6.2 We may change the limits and restrictions at any time without notice to you. The updated limits and restrictions will apply to your Transactions from the date of the change.

7.1 We respect your privacy and security. We collect, use, store, disclose and protect your personal information in accordance with our Privacy Policy, which is available on our website at www.inemoni.org/legal/privacy-policy. You agree to our Privacy Policy when using our Services.

7.2 We use reasonable measures to protect your personal information and Account from unauthorized access, use or disclosure. However, we cannot guarantee that our Services will be free from errors, viruses, malware or other harmful components. You are responsible for using appropriate antivirus software and firewall protection when accessing or using our Services.

7.3 You are also responsible for protecting your Account from unauthorized access, use or disclosure. You must not share your password, PIN or other security features of your Account with anyone else or allow anyone else to access or use your Account. You must notify us immediately if you suspect any unauthorized access, use or disclosure of your Account.

8.1 You are responsible for ensuring that your registration details are maintained and updated.

8.2 Inemoni reserves the right to request for further information pertaining to your Inemoni Wallet at anytime. Failure to provide the required information may result in a limitation on usage of the APP, suspension or termination of your access to the Inemoni Wallet.

9.1 IneMoni reserves the right to impose transaction limits on bank transfers, including minimum and maximum transfer amounts. These limits may be adjusted at IneMoni’s discretion and communicated to the User through the App or any other means deemed appropriate.

9.2 The User agrees to abide by the transfer limits set by IneMoni and acknowledges that exceeding these limits may result in transaction failures or delays.

9.3 IneMoni will process bank transfers within a reasonable timeframe, subject to the availability and operational hours of the recipient bank.

9.4 The User acknowledges that the exact time required to complete a bank transfer may vary depending on factors beyond IneMoni’s control, including but not limited to banking systems, weekends, public holidays, and any unforeseen circumstances.

9.5 The User shall provide accurate and complete transfer instructions through the App, including the recipient’s bank account details, such as the bank name, account number, and account holder’s name.

9.6 IneMoni shall not be held liable for any losses or errors arising from incorrect or incomplete transfer instructions provided by the User.

9.7 The User acknowledges that once a bank transfer is initiated, it may not be possible to modify or cancel the transaction. IneMoni shall not be responsible for any losses resulting from the User’s failure to provide accurate transfer instructions or in cases where modification or cancellation is not feasible.

9.8 The User acknowledges that once a bank transfer is initiated, it may not be possible to modify or cancel the transaction. IneMoni shall not be responsible for any losses resulting from the User’s failure to provide accurate transfer instructions or in cases where modification or cancellation is not feasible.

9.9 The User agrees to indemnify and hold IneMoni harmless from any claims, losses, damages, liabilities, costs, and expenses arising out of or related to their use of the bank transfer feature within the App, including but not limited to any errorsor inaccuracies in transfer instructions, unauthorized access to the User’s IneMoni account.

9.10 The User shall comply with all applicable laws, regulations, and guidelines governing the use of the bank transfer feature within the App, including but not limited to anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

9.11 IneMoni reserves the right to suspend or terminate the User’s access to the bank transfer feature if there is reasonable suspicion of any unlawful or prohibited activities.

10.1 Virtual Card Activation: In order to activate the Virtual Card service, you must be a registered user with IneMoni and meet the eligibility criteria set forth by IneMoni. IneMoni reserves the right to refuse or revoke the activation of the Virtual Card service at its sole discretion.

10.2 Virtual Card Usage: The Virtual Card is intended for online purchases and transactions. You agree not to use the Virtual Card for any illegal or fraudulent activities. IneMoni reserves the right to monitor and investigate any suspicious or unauthorized use of the Virtual Card.

10.3 Card Details: The Virtual Card details, including the card number, expiration date, and CVV, will be provided to you upon activation. You are responsible for keeping the Virtual Card details confidential and ensuring its security. Any unauthorized use of the Virtual Card shall be your sole responsibility.

10.4 Funding: You can fund your Virtual Card by transferring funds from your IneMoni account or any other approved funding source specified by IneMoni. The available balance on your Virtual Card will be equal to the amount of funds transferred.

10.5 Spending Limits: IneMoni may impose spending limits on the Virtual Card, including but not limited to daily, weekly, or monthly limits. These limits will be communicated to you at the time of Virtual Card activation or through subsequent notifications.

10.6 Expiry: The Virtual Card will have an expiration date indicated on the card details. Once the Virtual Card expires, it will no longer be valid for use.

10.7 Renewal: IneMoni may offer the option to renew the Virtual Card, subject to eligibility criteria and applicable fees. The renewal process will be communicated to you in advance, and you will have the choice to renew or discontinue the Virtual Card service.

10.8 Liability: IneMoni shall not be liable for any losses, damages, or expenses arising from the use or misuse of the Virtual Card.

10.9 Termination: IneMoni may terminate your access to the Virtual Card service at any time without prior notice if you breach these Terms or the General Terms, or if IneMoni determines, in its sole discretion, that such termination is necessary or appropriate.

11.1. IneMoni provides the Saving feature that allows users to create and manage different Saving plans. Each plan may have different interest rates, and these rates will be clearly specified within the Saving feature.

11.2. Interests will only be paid to users if the conditions of the Saving plan are met. The specific conditions for each plan will be outlined within the Saving feature and must be adhered to by the user.

11.3. If the user fails to meet the conditions specified for a particular Saving plan, they will forfeit any accrued interest associated with that plan. The user will only receive interest payments if they meet all the requirements of the Saving plan as outlined in the feature.

11.4 Users are solely responsible for understanding and complying with the conditions of each Saving plan they choose to participate in. It is the user’s responsibility to review the terms and conditions associated with each plan before initiating any savings under that plan.

11.5 Users must ensure that they meet all the criteria, such as minimum deposits, maintaining balances, or meeting specific tenure requirements, to be eligible for interest payments. Failure to meet these requirements will result in the forfeiture of interest.

11.6 Users must regularly monitor their Saving plans and ensure compliance with any updates or modifications made by IneMoni regarding plan conditions, interest rates, or any other relevant information.

11.7 Interest will be calculated based on the interest rate applicable to the specific Saving plan and the user’s eligible balance.

11.8 Interest payments will be made to the user’s designated account only when the conditions of the Saving plan are met, as specified in the feature.

11.9 IneMoni reserves the right to modify interest rates or payment frequency for any Saving plan. Such modifications will be communicated to users through appropriate channels, including the IneMoni application or website.

11.10 IneMoni reserves the right to modify or terminate any Saving plan, including its associated conditions and interest rates, at any time without prior notice. However, IneMoni will make reasonable efforts to notify users of any modifications or terminations through the IneMoni application or website.

11.11 In the event of plan termination, users will be provided with an opportunity to withdraw their funds, including any accrued interest, within a specified period. Failure to withdraw funds within the given timeframe may result in the transfer of the remaining balance to the user’s primary account or another designated account.

11.12 IneMoni shall not be liable to users for any loss of interest resulting from the user’s failure to meet the conditions of a Saving plan or for any modification or termination of a Saving plan.

11.13 IneMoni shall not be responsible for any unauthorized access to or use of the Saving feature or any loss or damage incurred as a result of such unauthorized Access or use.

11.14 IneMoni shall not be liable for any indirect, incidental, consequential, or punitive damages arising out of or in connection with the use of the Saving feature, including but not limited to loss of profits, loss of data, or loss of opportunity.

11.15 Terms and conditions of our partner bank that provides the loan, which will be made available to you before you apply for the loan. You agree to comply with such terms and conditions when using your loan.

12.2 You understand and accept that to the fullest possible extent permitted in law, we accept no responsibility for any loss or damage or injury caused to you or your hardware or software whether we cause such loss or injury directly or indirectly.

13.2 You may terminate your Account or access to our Services at any time by contacting us through our App or by email at support@inemoni.com. You must pay any outstanding fees and charges and complete any pending Transactions before terminating your Account.

13.3 Termination or suspension of your Account or access to our Services does not affect any rights or obligations that have accrued before the termination or suspension. Any provision of these Terms that by its nature should survive the termination or suspension will continue to apply.

14.1 All intellectual property rights, including but not limited to trademarks, logos, service marks, and copyrights, associated with IneMoni and its services are the property of IneMoni or its licensors.

14.2 You are granted a limited, non-exclusive, non-transferable right to use the IneMoni services for personal or business purposes in accordance with these Terms.

14.3 You shall not reproduce, modify, distribute, display, or create derivative works of any IneMoni intellectual property without prior written permission from IneMoni.

15.1 Your use of the APP signifies your continuing consent to our privacy policy, which governs our collection and use of personal information that you supply to us. You can examine our privacy policy any time by clicking here

16.1 We may discontinue the APP (temporarily or permanently) or change any information, content, feature, or service at any time with or without notice. We also retain the right to create limits on the use of the APP at our sole discretion. Your use of this APP after such changes are implemented constitutes your acknowledgment and acceptance of the changes. Please consult these terms of use regularly to acquit yourself with any changes that may apply. You can review the most current version of these Terms and Conditions by clicking on the APP’s “Terms of Use” link.

17.2 The investigation will be conducted by our designated team, and the user will be required to cooperate fully by providing any necessary information, documents, or evidence related to the source of the funds.

17.3 The duration of the investigation may vary depending on the complexity of the case, the availability of information, and any legal requirements. However, we will make every effort to complete the investigation in a timely manner and inform the user of the outcome.

17.4 If the investigation reveals that the inflow funds are legitimate and comply with all applicable laws and regulations, the PND status will be lifted, and the user will regain full access to their account.

17.5 If the investigation determines that the inflow funds are suspicious, illegal, or in violation of any laws or regulations, appropriate actions will be taken, which may include but are not limited to freezing the account, reporting the matter to relevant authorities, and terminating the user’s access to our system.

17.6 IneMoni will not be held responsible for any inconvenience caused to the user during the PND and investigation period, including any financial losses incurred due to the temporary restriction on account withdrawals or transfers.

19.1 Access to the APP is PIN protected. You hereby agree to guard your PIN and not to disclose it to any third party including staff of Inemoni or any person purporting to have authority to request for it.

19.2 You acknowledge that you shall be solely responsible for the security of your PIN. Inemoni shall not be liable for any disclosure of your PIN to any third party and you hereby agree to hold Inemoni harmless from any losses that may result from any PIN disclosure.

19.3 You are responsible for all instructions given to Inemoni in relation to your Inemoni Wallet.

19.4 Inemoni shall deem each correct PIN entry as being performed by the legitimate owner of the Inemoni Wallet and shall regard all subsequent transactions as validly performed by you.

19.5 You are prohibited from using any services or facilities provided in connection with the APP to compromise security or tamper with system resources and/or Inemoni Wallets. The use of tools designed for compromising security (e.g., password guessing programs, cracking tools, or network probing tools) is strictly prohibited. If you become involved in any violation of system security, Inemoni reserves the right to release your details to system administrators in order to assist them in resolving security incidents.

19.6. Inemoni reserves the right to investigate suspected violations of these terms and conditions.

22.1 Inemoni may investigate any suspicious activity on the APP and, depending on the outcome of such investigation, may escalate the suspicious activity to the relevant law enforcement authority.

23.2 The relationship of Inemoni Digital Concept Limited and the User/Business established by this Agreement is that of independent contractors, and nothing contained in this Agreement shall be construed to:

• - Give either party the power to direct and control the day-to-day activities of the other
• - Constitute the parties as partners, joint ventures, co-owners or otherwise as participants in a joint or common undertaking, or
• - Allow either party to create or assume any obligation on behalf of the other party for any purpose whatsoever

24.1 You hereby expressly consent and authorize Inemoni to disclose any transaction data or information pertaining to your Inemoni Wallet to any law enforcement, investigative or regulatory authority including without limitation the Nigerian Police, Central Bank of Nigeria, Economic and Financial Crimes Commission, or any competent anti-money laundering authority for the purposes of any genuine enquiry or investigation or to any third party to which you have separately, either in writing or electronically through the APP or otherwise, authorized Inemoni to disclose transaction data or information pertaining to you or your usage of APP, including your Inemoni Wallet provided that any consent given to Inemoni to disclose information to any third party (not being a law enforcement, investigative or regulatory authority) pursuant to this clause may be withdrawn at any time.

24.2. You acknowledge that where your Inemoni Wallet is determined by a competent judicial authority as containing proceeds of any criminal or money laundering activities, Inemoni may be required by law to surrender funds in your Inemoni Wallet to any statutory fund created for the purpose of recovering the proceeds of crime.

24.3 You acknowledge that Inemoni may retain your transaction data for a period of up to seven (7) years or as may be required by any law or regulation

25.1 These terms and conditions are between you and us and not any third party, and these terms and conditions are not intended to confer any rights of any nature upon any party other than you and us and our legal associates.

26.1 Agent and Merchant are to maintain a record sheet showing Identification details, phone numbers, and addresses of clients for whom payments and bills are processed.

26.2 Agent and Marchant are Ensure that all required K.Y.C. information requested at sign up is accurately recorded, with clear pictures of the account owners.

26.3 Non-compliance with this requirement may cause the Business’s account to be flagged as suspicious and placed on a fraud checklist. Business are required to flag and report in writing any suspicious transaction that they may be forced to process. The report must show phone numbers and destination account numbers of suspected fraudsters.

26.4. All businesses with more than 3 unreported/unflagged fraud issues in a month will be flagged as suspicious accounts with accompanying penalties.

27.1 Inemoni is committed to providing you with a secure and seamless digital banking and financial service, but we cannot guarantee that our service will always operate without errors, delays or disruptions. Sometimes, our service may be affected by factors beyond our reasonable control, such as network issues, maintenance, security breaches, or third-party services. We are not liable for any loss or damage that you may incur as a result of such events.

27.2 If our service is unavailable or impaired for any reason, we will endeavour to restore the service as soon as possible. However, we do not offer any compensation or refunds for any downtime or reduced functionality. You use our service at your own risk and discretion.

27.3 By using our service, you agree to release us and our partners from any claims for any loss or damage that may arise from service unavailability or impairment. You also agree to indemnify us and our partners from any liability that may result from your use of our service during such events.

28.1 Inemoni shall not be involved in any disputes that may arise between the Merchant and any of its Customers unless such dispute specifically relates to transaction settlement.

28.2 In the event of a dispute between Parties with respect to any issue arising out of or relating to this Agreement in any manner, including but not limited to the breach thereof, resolution of which cannot be resolved amicably by the Parties through negotiation within thirty (30) days shall be resolved by arbitration at the Lagos Court of Arbitration (LCA) before a single arbitrator in accordance with the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria.

28.3 The Parties shall be entitled to require the appointment of an arbitrator by the Chairperson of Chartered Institute of Arbitrators (UK), Nigeria Branch, where the Parties fail to reach an amicable decision of the arbitrator.

28.4 The arbitration shall be held in Lagos, Nigeria, and conducted in English language. The decision of the arbitrator shall be final and binding on the Parties and Parties agree to be bound by it. Such decision shall be rendered within thirty (30) days of the closing of the hearing record.

28.5 The cost of arbitration shall be borne equally by the Parties.

28.6 The Arbitral award rendered by the arbitrator shall be entered in any court of competent jurisdiction as judgment. No award of punitive damages by the arbitrator may be enforced.

29.1 You agree to comply with all applicable laws and regulations in Nigeria and any other jurisdiction where you access or use our services. You also agree not to use our services for any illegal or fraudulent purpose, or in any manner that could harm, interfere with, or disrupt our services or other users. We reserve the right to cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity or other information of anyone using our services.

30.1 In using the APP, you agree you will comply with all applicable laws and regulations. Inemoni may revise these Terms and Conditions of Use at any time by updating this posting.