Legal Documents

Terms of Use

These Terms of Use represent an Agreement between you and Tanadi Digital Cooperative Limited, set out the Terms and Conditions and apply to the entire content of the Website whose homepage is located at www.tanadi.co , for the mobile application software, the data supplied with the software and the associated Services (the “App”) and to any correspondence by email between you (the “client” or “User” or “Borrower”) and us (the “Company”). By using our website, you represent that you have read and agree to be bound by, and to comply with, these Terms of Use. If for any reason whatsoever you do not wish to be bound by these Terms and Conditions, do not access or use the Website.

These Terms and Conditions are issued by Tanadi Digital Cooperative Limited whose main business is the provision of financial services closely related to the issuance of interest free Personal and SME loans, savings and Ethical Investment. A full description of the Service rendered is spelt out in the Key Information document which is accessible via Tanadi’s website.

1. Introduction

   Our Details

   1. Tanadi Digital Cooperative Ltd (we, our and us) operates the website.
   2. Our registered address is Suite 521, The Kings Plaza, Opposite NAF Conference center, Ahmadu Bello way, Kado, FCT, Abuja, Nigeria.
   3. Our contact email address is hulda@tanadi.co

2. Additional documents governing your use of our Website.

   In addition to these Terms of Use, your use of our Website is also governed by the following documents.

   1. Our Privacy Policy, which is available at www.tanadi.co/privacy Protecting your privacy is very important to us. We respect and are committed to protecting your privacy. Our privacy policy sets out the types of information we collect, the reasons we collect it, how we use it, where we may pass it on to any third parties, in what circumstances and for what reasons, and any other relevant information relating to our use and/or processing of your information and your rights in relation to your information.
   2. By accessing and using our website, you agree to be bound by the terms and conditions contained in these Terms of Use, you acknowledge that we will process your personal information in accordance with our privacy policy and you agree to abide by the Bye-laws of the Cooperative.

3. Modifications of Terms of Use and other documentation

   1. We reserve the right to update these Terms of Use, our privacy policy and any other documentation referred to in any of these documents from time to time.
   2. If required by law, we will provide you with notice of any changes in these Terms of Use or the other documentation referred to in them by posting a notice on the website and/or by posting an updated version of these Terms of Use or other such documentation on our website with a new effective date stated at the beginning of them.
   3. By continuing to access our website after we have updated our Terms of Use, and/or user content agreement, you agree to be bound by those updated versions. You also acknowledge that by continuing to access our website after we have updated our privacy policy and/or Terms of Use, that the practices set out in those updated policies will apply to our handling of your information and our use of cookies and similar technologies.
   4. You must check these Terms of Use and all other documentation referred to in them each time you access our website in order to ensure that you are aware of the terms that apply to you at that time.
   5. The date that these Terms of Use and/or any other documents (including our privacy policy) were last amended is set out at the top of that document and is referred to as that document’s “effective date”.

4. Accessibility of our website

   1. We make no representations and provide no warranties that:
      1. the website will be made available at any specific time or from any specific geographical location;
      2. your access to the website will be continuous or uninterrupted; or the website will be accessible or optimized on all browsers, computers, tablets, phones or viewing platforms.
   2. We reserve the right to suspend access to all or part of the website for any reason, including for business or operational reasons, such as improving the appearance or functionality of the website, content updates, periodic maintenance, or to resolve any issues that we become aware of. Wherever we anticipate that we need to suspend access to the website for a considerable period of time, we will try to provide you with prior notice where reasonably practicable.
   3. Our website is provided for users in the Nigeria. Although it may be possible to access the website from other countries, we make no representation that our website is compliant with any legal requirements enforced in any jurisdiction other than the Nigeria, or that the content available on the website will be appropriate for users in other countries or states.

5. Accounts

   1. Eligibilty

      The services offered by Tanadi can only be utilized by persons who are:

      1. Citizens of Nigeria or legal Nigerian residents.
      2. At least 18 years of age. Any access to or use of Tanadi by anyone under 18 is unauthorized, unlicensed, and in violation of these Terms of Use.
   2. Opening an Account

      In order to access certain features of Tanadi, you must register to create an account. A User is only allowed to open and operate one account with Tanadi Digital Cooperative Limited.

      1. Opening account with an unverified status allows you to send electronic money (e-money), receive e-money, and/or withdraw money with certain limits. By going through the electronic form of the Tanadi website(s), you immediately obtain unverified status. To upgrade to verified status and increase your limit you must provide a scanned color copy of your government-issued photo ID such as National I.D, driver’s license and/or Work I.D that confirms the details you provided during the account opening;
      2. You agree that the information you provide to us on account registration through our website or mobile applications will be true, accurate, up-to-date and complete.
      3. All account information is provided for use of the named account holder only, and not for any other person. For security reasons, we ask you to not share any of your registration details (User name, Password, etc.) with any third party. You are responsible for any consequences of unauthorized access to your account.
      4. By creating an account, you automatically sign up for various types of alerts via e-mail and mobile notification. You may unsubscribe from marketing-oriented emails at any time.
   3. Closing of your Account (Termination of the Agreement)

      The period of this Agreement will extend from the day you open an Account with Tanadi to the day you either decide to close the Account, or Tanadi decides to close your account and terminate the Agreement for any one of the reasons stated in Section 7 below.

      1. You can close your account by sending an email to hulda@tanadi.co requesting the withdrawal of any available balances and the closing of the account. Your balance in the account, if any, should be fully withdrawn/redeemed at the time of the account closing and the Agreement should be terminated.
      2. Your Account cannot be closed if you have an outstanding payment for a loan to make.
      3. An Account cannot be closed if it is being investigated by Tanadi for fraud or other reasons that require such action. Tanadi has the right to hold the balance in your account, in order to protect itself or any third party against any potential liabilities of any nature.
      4. E-money in your e-wallet is valid until the time of redemption and will not be subject to any limitation. Despite the validity of the e-money in your account, if your account remains dormant (inactive) for a period of 36 months, Tanadi has the right to close the account or charge maintenance fees. All accounts with zero balance will be closed in which you will be notified that your account is closed and that the Agreement has been terminated.
      5. Without prejudice to Tanadi’s rights under clause 5.3.4, Tanadi may at its sole discretion suspend or close your Account:
         1. If your Account or agreement with a Mobile Network Operator is terminated for whatever reason, accounts operating via such Mobile Network Operators will be terminated.
         2. If Tanadi is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
         3. If Tanadi reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable) which you fail to remedy (if remediable) within 14 days after the service of notice by email, SMS or other electronic means requiring you to do so;
         4. If Tanadi decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion;

6. Using our Services

   Tanadi offers zero interest soft loans to users (individuals and SMEs), automated savings and investment service, allows sending and receiving of payments to and from other users, all within the Cooperative and also withdraw/redeem e-money from Tanadi wallet to bank accounts.

   Sending Money

   1. To send e-money to another Tanadi user, log into your account and select the relevant button (“Send Money”, “Pay”, or any other word or phrase) and complete all the required information (mandatory fields).
   2. When sending e-money to another user, you are requesting an electronic transfer from your e-wallet account to that of the user’s.
   3. A periodic sending limit may be imposed on your Account either by requirement of the anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk)
   4. Transactions will only be executed when there is available balance in your Tanadi wallet. To ensure that there is available balance, you need to review your account balance and if necessary, top up your account via bank or our provided payment gateways using bank cards. You may select the funding source of your preference.
   5. Your Transaction History and Balance details can be accessed by logging into your account, Tanadi will refrain from sending you periodic statements by either physical or electronic mail. With this you acknowledge and agree to review your transactions through your Account and the relevant transaction history section. If for any reason (such as restricted access) it is impossible to access your transaction history, you may contact us by email at hulda@tanadi.co.

   Receiving Money

   1. Only Tanadi account holders can remit funds (e-money) to your e-wallet.
   2. A periodic receipt limit may be imposed on your Account either by requirement of the anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk).
   3. Tanadi is entitled to review all payment transactions and will do so in cases it deems to be of higher than normal risk. Such reviews will occur when Tanadi has a reasonable suspicion that the payment transaction may involve a restricted or prohibited activity, or any other reason that may be determined by Tanadi from time to time.
   4. Invalidation of a transaction by means of reversal or cancelation, or suspension of a transaction does not release you from any liability towards Tanadi and you will remain liable for any amount due to Tanadi plus any Fees that relate to the payments.
   5. Tanadi is not responsible to determine any applicable taxes relating to your transaction, nor is it responsible to collect, report and emit any taxes arising from any transaction. You agree that it is your sole responsibility to determine the applicable taxes relating to a transaction and further to collect, report and remit tax balances arising from any transaction to the relevant tax authority

7. Prohibited Activities

   Tanadi has listed a number of activities that are restricted or prohibited as they relate to the use of the Tanadi Services, the terms of this agreement, the applicable laws, regulations, directives and decrees that may be issued from time to time by the Company. Such activities include:

   1. Violating any law, regulation, directive, statute or contract in relation to the Service received, including without limitation, money laundering laws and regulations, consumer and personal data protection, the Electronic Money Institution Law and its directives;
   2. Using the Account for unauthorized purposes or where Tanadi detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
   3. Providing inaccurate, disingenuous, or entirely false (deliberately) information without justifiable cause;
   4. Refusing to provide confirmation of your identity and verification of your details when requested upon, in order for Tanadi to perform an investigation when needed.
   5. Intentionally or unintentionally facilitate any malicious computer programming routines that may cause damage, harmfully interfere with, clandestinely capture or steal any system, data or information;
   6. Using any device and/or software that intentionally or unintentionally interferes with the proper operation of our platform and website;

8. Fees

   Tanadi charges the following fees:

   • Admin Fee: Tanadi charges you admin fee when you decide to invest in any of the ‘investment pots’ it opens for investing either with Taj Bank or Lotus Capital.
   • Account maintenance Fee: Tanadi charges you monthly from your available balance for account maintenance
   • When withdrawing via an agent, commission will be paid to the agent from your account upon completion of the transaction

9. Default on Loan

   An event of default (Event of Default) occurs when:

   • You fail to pay any sum payable under a Loan in accordance with a scheduled repayment
   • Any representation/information, warranty or assurance made or given by the Borrower in connection with the application for Loan or any information or documentation supplied by the Borrower is incorrect, inaccurate or misleading
   • The Borrower does anything which may prejudice Tanadi’s rights under this Agreement.
   • You use or attempt to use the App or the Services for an unauthorized purpose; or
   • The Borrower is declared bankrupt, insolvent or unable to pay his debts as they fall due under the laws of Nigeria.

   At any time after an Event of Default has occurred which is continuing, Tanadi may, without prejudice to any other right or remedy granted to it under any law;

   1. Terminate this Agreement in accordance with the clause 5.3
   2. Supply information concerning the Event of Default to Credit Reference Bureaus. A copy of any adverse information concerning you sent to a Credit Reference Bureau shall be made available to you upon written request
   3. Tanadi reserves the right to assign its right, title and interest under the Agreement to an external collections agency who will take all reasonable steps to collect the outstanding Loan, and in this regard, Tanadi shall have the right to share with such collection agencies, any information about the Borrower which it deems relevant.
   4. Tanadi also reserves the right to institute legal proceedings for the recovery of the Loan against you without any prior notice.
   5. The Borrower shall be responsible for all legal costs and expenses incurred by Tanadi in connection with any enforcement action taken by Tanadi for the collection and repayment of the Loan.
   6. In the event that an Event of Default occurs, the Borrower grants Tanadi the right to notify the Borrower and any other person who, in Tnadi’s opinion, may assist with the recovery of the outstanding Loan amount. You agree that this information my be done by any means of communication which Tanadi deems appropriate.

10. Exclusion of Liability

    1. Tanadi shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within Tanadi’s control including , without limitation, Force Majeure or error, interruption, delay or non- availability of the System, terrorist or any enemy action, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
    2. You acknowledge that the App has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the App as described meet your requirements.
    3. We only provide the Services on the App for domestic, private use, and small and medium business financing needs, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity as a result of your unauthorized use of the App.
    4. Tanadi will not be liable for any losses or damage suffered by you as a result of or in connection with:
       • 4.1 Any defect or fault in the App or any Service resulting from you having altered or modified the App;
       • 4.2 Any defect or fault in the App resulting from you having used the App in breach of the Terms and Conditions of this Agreement;
       • 4.3 Your breach of any of the Prohibited activities;
       • 4.4 Unavailability of sufficient funds in your Value Storage Account;
       • 4.5 Failure, malfunction, interruption or unavailability of the System, your Equipment, the Network or the Electronic Payment System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account;
       • 4.6 Any fraudulent or illegal use of the Services, the System and/or your Equipment; or
       • 4.7 Your failure to comply with the Terms and Conditions and any document or information provided by Tanadi concerning the use of the System and the Services.
    5. If for any reason other than a reason mentioned in clauses 10.1 - 10.4, the Services are interfered with or unavailable, Tanadi’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.
    6. Save as provided in clause 10.5, Tanadi shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.
    7. Under no circumstances shall Tanadi be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Tanadi.
    8. All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

11. Indemnity

    1. In consideration of Tanadi complying with your instructions or Requests in relation to your Account, you undertake to indemnify Tanadi and hold it harmless against any loss, charge, damage, expense, fee or claim which Tanadi suffers or incurs or sustains thereby and you absolve Tanadi from all liability for loss or damage which you may sustain from Tanadi acting on your instructions or Requests or in accordance with these Terms and Conditions.
    2. The indemnity in clause 1.1 shall also cover the following:
       1. All demands, claims, actions, losses and damages of whatever nature which may be brought against Tanadi or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Tanadi’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Tanadi.
       2. Any loss or damage that may arise from your use, misuse, abuse or possession of any third-party software, including without limitation, any operating system, browser software or any other software packages or programs.
       3. Any unauthorized access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.
       4. Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Tanadi as a consequence of any breach of these Terms and Conditions.
       5. Any damages and costs payable to Tanadi in respect of any claims against Tanadi for recompense for loss where the particular circumstance is within your control.

12. Disputes with Tanadi

    If a dispute arises between you and Tanadi, our goal is to learn about and address your concerns and, if we are unable to do so to your satisfaction, to provide you with a neutral and cost-effective means of resolving the dispute quickly. Disputes between you and Tanadi regarding our Services may be reported to Customer Service online via the "Email Us" link on the "Contact Us" page at any time, or by calling the Customer Service telephone number located on the Tanadi website(s) and by logging into your Account.