Terms and Conditions
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    Terms and Conditions

    Terms and Conditions for Okwo-oha Microfinance Bank Ltd, KM 8 Iboko Nwofe Road, Izzi LGA, Ebonyi State, Nigeria, Effective Date: 1st January, 2025

    1. Introduction

    Welcome to the website and mobile application ("Services") of Okwo-oha Microfinance Bank Ltd ("the Bank," "we," "our," "us"). By accessing or using our Services, you agree to comply with these Terms and Conditions. If you do not agree, please do not use our Services.

    2. Eligibility & Account Registration

    • You must be at least 18 years old to use our Services.
    • Users must provide accurate and complete information during account registration.
    • The Bank reserves the right to verify user identity and decline registration if necessary.

    3. Use of Services

    3.1 Permitted Use

    • The Services are intended for personal and business banking transactions.
    • Users must comply with all Nigerian financial laws and regulations.
    • Transactions must not be used for fraudulent, illegal, or unauthorized activities.

    3.2 Prohibited Activities

    Users are prohibited from: • Engaging in money laundering, fraud, or financial crimes.
    • Attempting to hack, alter, or disrupt our Services.
    • Using another person's account without authorization.
    • Uploading malicious software, viruses, or harmful content.

    4. Transactions & Banking Services

    4.1 Deposits & Withdrawals

    • Users may deposit and withdraw funds in accordance with our policies.
    • Withdrawals may be subject to transaction limits and verification requirements in line with the CBN and financial regulations policies and as may be updated from time to time.

    4.2 Loan Services

    • Loans are subject to approval based on the Bank's lending criteria.
    • Users must agree to repayment terms, interest rates, and penalties before accepting a loan.

    4.3 Service Fees & Charges

    • The Bank may apply transaction fees, account maintenance fees, and other charges.
    • Fees are subject to change and will be communicated in advance if need be.

    5. Security & Account Protection

    • Users must keep login credentials confidential and not share them with third party.
    • The Bank will never request passwords or PINs via email, SMS, or phone calls.
    • Users must notify the Bank immediately in case of suspected unauthorized access.

    6. Privacy & Data Protection

    • User data is collected, processed, and stored in line with our Privacy Policy.
    • We implement security measures to protect user data but do not guarantee absolute security.
    • Users consent to the collection and processing of their personal information as outlined in our Privacy Policy.

    7. Third-Party Links & Services

    • Our Services may contain links to third-party websites or services.
    • We are not responsible for the content, privacy practices, or security of third-party services.

    8. Service Availability & Modifications

    • The Bank does not guarantee uninterrupted access to its Services.
    • We reserve the right to modify, suspend, or terminate services without prior notice.
    • Users acknowledge that technical issues, maintenance, or system updates may cause temporary disruptions in service delivery.

    9. Liability & Disclaimers

    • The Bank is not liable for losses due to unauthorized transactions resulting from user negligence.
    • We do not guarantee that our Services will be error-free or free from cyber threats.
    • Users are responsible for ensuring that their internet connection and devices are secured.

    10. Termination & Suspension

    • The Bank reserves the right to suspend or terminate user accounts due to:
    o Violation of these Terms & Conditions.
    o Fraudulent activities or suspicious transactions.
    o Regulatory compliance requirements.
    • Users may request to close their accounts by contacting customer support.

    11. Governing Law & Dispute Resolution

    • These Terms are governed by the laws of Nigeria.
    • Disputes will be resolved through negotiation, arbitration, or legal action in Nigerian courts.

    12. Amendments & Updates

    • The Bank reserves the right to update these Terms at any time.
    • Users will be notified of changes via email, website, or mobile app updates if need be.

    13. Contact Information

    For inquiries or concerns, contact us:
    Okwo-oha Microfinance Bank Ltd
    KM 8 Iboko Nwofe Road, Izzi LGA, Ebonyi State, Nigeria
    Email: info@okwoohamfb.com, okwo.oha@gmail.com, helpdesk@okwoohamfb.com
    Phone: +234 916 517 0021, +234806 853 3476
    Website: www.okwoohamfb.com
    Last Updated: March 28th, 2025