Terms of Use

    Effective Date: 20/01/2015

    Last Updated: 15/08/2025

    Welcome to Igbo-Ukwu Microfinance Bank Ltd (“the Bank”, “we”, “our”, or “us”). These Terms of Use (“Terms”) govern your access to and use of our banking services, website, mobile applications, online platforms, and other related services (collectively, the “Services”).

    By using our Services, you agree to comply with and be bound by these Terms. If you do not agree, please discontinue use immediately.

    1. Eligibility
    • You must be at least 18 years old or the legal age of majority in your jurisdiction to open and operate an account.
    • By using our Services, you represent that all information provided is accurate, complete, and up to date.
    • Accounts for minors may only be opened and operated under applicable laws and with parental or guardian consent.
    1. Account Registration & Security
    • To access certain Services, you must open an account with the Bank.
    • You are responsible for safeguarding your login credentials (username, password, PIN, or biometric access).
    • Any activity conducted under your account will be deemed as authorized by you.
    • Notify the Bank immediately if you suspect unauthorized access or security breaches.
    1. Services Provided

    The Bank offers:

    • Deposit accounts (savings, current, fixed deposits)
    • Loan and credit facilities
    • Digital and mobile banking
    • Funds transfer and payments
    • Investment, advisory, and related financial services

    Some services may be subject to additional terms and conditions, which will be provided separately.

    1. User Obligations

    By using our Services, you agree that you will not:

    • Provide false, misleading, or incomplete information.
    • Use the Services for unlawful, fraudulent, or prohibited purposes.
    • Attempt to gain unauthorized access to the Bank’s systems.
    • Infringe on intellectual property, data privacy, or confidentiality rights.
    • Abuse or misuse digital platforms in a way that disrupts operations.
    1. Fees, Charges & Interest
    • The Bank may charge fees for certain Services, including transaction processing, account maintenance, and loan facilities.
    • All applicable charges, interest rates, and fees will be disclosed in the relevant product terms and on our official channels.
    • By using the Services, you consent to such charges as may apply.
    1. Electronic Communication & Records
    • By using our Services, you consent to receive communications electronically (SMS, email, app notifications, website updates).
    • Electronic records of your transactions will be considered valid and legally binding.
    1. Privacy & Data Protection
    • The Bank collects, processes, and protects personal information in accordance with its Privacy Policy and the Nigeria Data Protection Act (NDPA) 2023.
    • By using our Services, you consent to the processing of your data for legitimate banking and regulatory purposes.
    1. Intellectual Property Rights
    • All content, designs, trademarks, software, and materials provided by the Bank remain the intellectual property of the Bank or its licensors.
    • You may not copy, modify, distribute, or exploit such materials without prior written consent.
    1. Limitation of Liability
    • The Bank will take reasonable measures to ensure continuous, secure, and accurate Services.
    • However, the Bank is not liable for:
      • Service interruptions due to maintenance, upgrades, or system failures.
      • Losses arising from unauthorized access due to your negligence (e.g., password sharing).
      • Indirect, incidental, or consequential damages caused by use of the Services.
    1. Indemnity

    You agree to indemnify and hold harmless Igbo-Ukwu Microfinance Bank Ltd, its employees, directors, and affiliates from any claims, damages, or losses arising from your misuse of the Services or breach of these Terms.

    1. Third-Party Links & Services
    • Our website or mobile applications may contain links to third-party platforms.
    • The Bank does not control or endorse third-party websites and is not responsible for their content, services, or practices.
    1. Suspension & Termination
    • The Bank reserves the right to suspend or terminate your account or restrict your access to Services if:
      • You violate these Terms or applicable laws.
      • Fraudulent or suspicious activities are detected.
      • Regulatory or legal obligations require such action.
    • Upon termination, your obligations to settle outstanding debts, fees, or liabilities remain valid.
    1. Regulatory Compliance

    The Bank operates under the supervision and regulation of:

    • Central Bank of Nigeria (CBN)
    • Nigeria Deposit Insurance Corporation (NDIC)
    • Nigeria Data Protection Act (NDPA) 2023
    • Other applicable Nigerian financial and data protection laws.
    1. Governing Law & Jurisdiction
    • These Terms are governed by the laws of the Federal Republic of Nigeria.
    • Any disputes arising under these Terms shall be subject to the jurisdiction of Nigerian courts.
    1. Amendments to Terms
    • The Bank may update these Terms from time to time.
    • Updates will be communicated via our website, mobile applications, or other official channels.
    • Continued use of the Services constitutes acceptance of the revised Terms.
    1. Contact Us

    For inquiries, complaints, or clarifications regarding these Terms, please contact:

    Customer Service / Legal Department
    Igbo-Ukwu Microfinance Bank Ltd
    Ekwulobia-Nnobi Road Nkwo Igbo-Ukwu
    info@igbo-ukwumfb.com
    08034524578