Terms of service.

1. Introduction

These Terms of Services ("Terms") govern your access to and use of the products, services, and platforms provided by BLOC Microfinance Bank Limited ("BLOC MFB", "we", "us", or "our"), a microfinance bank duly licensed by the Central Bank of Nigeria (CBN). By opening an account, accessing our platforms, or using any of our services, you agree to be bound by these Terms.

2. Eligibility

To use our services, you must be at least 18 years of age or the legal age of majority in your jurisdiction. By registering for an account, you represent and warrant that you meet these eligibility requirements and that all information provided during registration is accurate, current, and complete.

3. Account Opening & KYC

All accounts are subject to our Know Your Customer (KYC) verification procedures as mandated by the CBN. You agree to provide valid identification documents, proof of address, and any other information required for verification. We reserve the right to decline account opening or restrict services if KYC requirements are not met.

4. Use of Services

You agree to use our services only for lawful purposes and in accordance with applicable Nigerian laws and regulations. You shall not use our platforms for money laundering, terrorist financing, fraud, or any other illegal activity. We reserve the right to suspend or terminate your account if we suspect any misuse.

5. Fees & Charges

Our fees and charges for various services are disclosed on our platforms and updated from time to time. By using our services, you agree to pay all applicable fees. We will provide reasonable notice of any changes to our fee schedule in accordance with CBN guidelines on transparency.

6. Privacy & Data Protection

Your privacy is important to us. Our collection, use, and protection of your personal data is governed by our Privacy Policy and the Nigeria Data Protection Regulation (NDPR). By using our services, you consent to the collection and processing of your data as described in our Privacy Policy.

7. Limitation of Liability

To the maximum extent permitted by law, BLOC MFB shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of our services. Our total liability shall not exceed the fees paid by you in the twelve (12) months preceding the claim.

8. Dispute Resolution

Any disputes arising from these Terms shall first be resolved through our internal complaint resolution process. If unresolved, disputes may be escalated to the CBN Consumer Protection Department or resolved through arbitration in Lagos, Nigeria, in accordance with the Arbitration and Conciliation Act.

9. Amendments

We reserve the right to modify these Terms at any time. Changes will be communicated through our platforms and will take effect upon posting. Your continued use of our services after such changes constitutes acceptance of the updated Terms.

10. Contact Us

If you have any questions about these Terms, please contact us at our registered office: 59B Igboukwu Plaza, Sokoto Gate, Tradefair Complex, Lagos-Badagry Expressway, Lagos, or through our Contact page.

Last updated: March 2026. These terms are governed by the laws of the Federal Republic of Nigeria.