Privacy Policy

    Effective Date: 15/01/2015

    Last Updated: 08/08/2025

     

    Igbo-Ukwu Microfinance Bank Ltd (“the Bank”, “we”, “our”, or “us”) values your trust and is committed to protecting your personal information. This Privacy Policy explains how we collect, use, disclose, store, and safeguard your data when you interact with us through our branches, website, mobile applications, online banking, and other services.

     

     

    1. Information We Collect

    We may collect the following categories of information from you:

    1. a) Personal Identification Information
    • Full name, date of birth, gender, nationality
    • Contact details (phone number, email, residential address)
    • National Identification Number (NIN), BVN, passport, voter’s card, driver’s license, or other government-issued IDs

     

    1. b) Financial & Transactional Information
    • Bank account numbers and details
    • Transaction history and payment records
    • Loan applications, repayment schedules, and collateral details
    • Creditworthiness and financial statements
    1. c) Digital & Technical Information
    • IP address, browser type, operating system
    • Login details and authentication credentials
    • Device identifiers and geolocation (if using mobile apps or digital services)
    1. d) Sensitive Information (where applicable)

    Biometric data (fingerprints, facial recognition, signature)

     

    1. How We Use Your Information

    Your personal information is collected and processed for the following purposes:

    1. Service Delivery – to open and maintain accounts, process transactions, and provide financial services.
    2. Legal & Regulatory Compliance – to comply with CBN, NDIC, NDPA, AML/CFT, and other applicable laws.
    3. Risk Management – to assess creditworthiness, prevent fraud, and monitor suspicious transactions.
    4. Communication – to send account alerts, service notifications, and important updates.
    5. Customer Support – to resolve complaints, respond to inquiries, and provide assistance.
    6. Marketing & Product Development – with your consent, to inform you of new products, promotions, and services.

     

     

    1. Legal Basis for Processing

    We process personal data under the following lawful bases:

    • Performance of a contract with you
    • Compliance with legal obligations
    • Legitimate business interests (e.g., fraud prevention, security)
    • Your consent (where applicable, e.g., for marketing communications)

     

    1. How We Share Your Information

    We may share your personal data with:

    • Regulators & Authorities: CBN, NDIC, law enforcement agencies, tax authorities, and credit bureaus as required by law.
    • Service Providers: IT vendors, payment processors, auditors, legal advisers, and consultants who support our operations.
    • Business Partners: Where you request services requiring third-party involvement (e.g., insurance, remittance).
    • Mergers & Acquisitions: If the Bank undergoes restructuring, merger, or acquisition.

    We do not sell or rent your personal data to third parties.

     

    1. Data Security

    We implement strict security measures to protect your information, including:

    • Encryption of sensitive data during transmission and storage
    • Firewalls, intrusion detection, and monitoring systems
    • Role-based access control and employee confidentiality obligations
    • Regular risk assessments and system updates

    However, while we take all reasonable precautions, no system is completely secure.

     

    1. Data Retention

    We retain your personal information only as long as necessary:

    To provide banking services and maintain your accounts

    To comply with regulatory and legal obligations

    To resolve disputes and enforce agreements

    When no longer required, data is securely deleted or anonymized.

     

    1. Your Rights

    Under the Nigeria Data Protection Act (NDPA) 2023, you have the right to:

    • Access the personal data we hold about you
    • Request correction of inaccurate or incomplete data
    • Request deletion of your data (subject to legal obligations)
    • Withdraw consent for processing (where applicable)
    • Object to processing for direct marketing or other purposes
    • Request data portability to another institution

    To exercise your rights, contact us at 08080676536/ emmanuelnwokoye@igbo-ukwumfb.com

     

    1. Cookies & Online Tracking

    Our website and mobile applications may use cookies and similar technologies to:

    • Enhance user experience
    • Analyze usage patterns
    • Personalize content and services

     

    You may adjust your browser settings to decline cookies, but this may affect functionality.

    1. Children’s Privacy

    We do not knowingly collect information from individuals under the age of 18, except where legally permitted (e.g., minors’ savings accounts opened by guardians).

     

    1. International Data Transfer

    If we transfer your data outside Nigeria, we ensure that appropriate safeguards (such as contractual obligations or adequacy decisions) are in place to protect your privacy.

     

    1. Updates to this Policy

    We may update this Privacy Policy from time to time. Any significant changes will be communicated via our website, mobile apps, or other official channels.

    1. Contact Us

    For questions, complaints, or to exercise your rights under this policy, please contact:

    Data Protection Officer (DPO)

    Igbo-Ukwu Microfinance Bank Ltd

    Ekwulobia- Nnobi Road Nkwo Igbo-Ukwu

    emmanuelnwokoye@igbo-ukwumfb.com

    08080676536