Privacy policy

We’re Mkobo Microfinance Bank Limited (‘we’, ‘our’, ‘us’, ‘MKOBO’) and operate under the name “MKOBO” and “Mkobobank”. We are registered with the Corporate Affairs Commission (CAC) with the registration number RC1234231.This policy describes how we collect and use your information and it covers all the ways you can interact with us. For example, when you: visit our website, use the App, open/maintain an account with us, get in touch with us, apply for a job or use a service that integrates with us.This policy also contains information about when we share your personal information with third parties (such as our service providers and credit bureaus).This policy is designed to be read in conjunction with our Terms & Conditions. By accessing, using our website, App, chat channels, subscribe to our services (“Services”) or newsletter etc. and interacting with us, you hereby agree with the method of collection, use, disclosure and processing of your Personal Information as described in this Privacy Policy and the Terms & Conditions.Please note that you do not have to transfer your information to us; however, if you do not, it will severely limit your ability to use our products and services - in particular, you will not be able to open a bank account with us.The notice has the following sections, so it is best to look there first:

Information we may collect from you when you interact with MKOBO
Why we collect your information and what we do with them
Disclosure of your information
How long do we keep your information?
Your rights F. Complaints
Updates to our privacy policy
Contacting us

Information we may collect from you when you interact with MKOBO

Information you give us:
- Personal details like your name, date of birth, gender, credit or debit card, and bank account information.
- Contact details like your home address, email, and phone number.
- Information about your identity, such as a copy of your ID document, BVN, and picture.
- We may request your express permission to access other information like your address book, contacts, location, photos, and data from your camera.
- Information you provide through our chat channels which we use to help you.
- If you use other ways to get in touch than through our chat channels, we collect the following information so we can answer your questions or take action:
  1. The phone number you’re calling from and information you give us during the call (we record all calls).
  2. The email address you use and the contents of your email (and any attachments).
  3. Public details from your social media profile (like Facebook, Snapchat, Instagram, Twitter and other social media platforms) if you reach out to us via these platforms, and the contents of your messages or posts to us.
Information we collect when you use MKOBO:
- We collect this information to keep your data safe and to improve features for you. This includes your:
  1. Mobile network and operating system
  2. Login information
  3. IP address and device ID
  4. Phone contacts
Information we get from third parties:
- To ensure compliance with the law and regulations, for regulatory purposes generally (Know Your Customer) as well as to help detect or prevent fraud or other crimes, and for tax, legal, reporting and auditing obligations
- In connection with agreements with credit reference agencies
- Such as public sources for AML reasons or market research

Why we collect your information and what we do with them

The Nigerian Data Protection Regulations (NDPR) prescribes that you must consent before we collect your information and that the information must be collected and processed in a lawful manner. This means that we will only process your information for the purpose below, given our legitimate interest in providing banking and financial products and services, operating and improving MKOBO, marketing our products and services to you and being as efficient as we can about complying with legal duties, obligations and regulations that apply to us and keeping our records up to date.

We use the information you give us for the following:
- To carry out our obligations arising from any contracts entered into between you and us;
- To provide you with the information, products and services that you request from us;
- To provide you with information about other goods and services we offer that are similar to those that you have already purchased or enquired about;
- To notify you about changes to our Services;
- To ensure that content from our Site is presented in the most effective manner for you and for your computer.
We use the information collected when you use MKOBO for the following:
- To administer our Site and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
- To inform you about scheduled Service downtimes and new features;
- To improve our site to ensure that content is presented in the most effective manner for you and your computer;
- To allow you to participate in interactive features of our service, when you choose to do so; and
- As part of our efforts to keep our Site safe and secure.
We use the information we get from third parties for the following:
- We may combine this information with information you give to us and information we collect about you. We may use this information and the combined information for the purposes set out above (depending on the types of information we receive).

Disclosure of your information

Information we share with third parties. We will not sell or rent your information to anyone. We may however share your information with selected third parties including:

Credit reference agencies (please see section below);
Our service providers (such as payment processors, IT service providers, email service providers and web analytics providers);
Specific subcontractors who help to provide you with the services you have requested;
Tax authorities, regulatory authorities, law enforcement agencies and fraud prevention agencies
Our insurers, lawyers, auditors, consultants and other professional advisers;
Other banks or financial institutions (where you ask us to share your personal data, or where we are asked to confirm your identity for the purposes of preventing or investigating financial crime);
Third parties where you have consented for us to share your data with them. If we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply our Terms and Conditions, Terms of Use and/or any other agreements; or to protect our rights, property, safety, our customers or others. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction;
Based on an order of court or as required by law to any supervisory agency or law enforcement organisation.

How long do we keep your information?

We retain personal data for as long as necessary for the relevant activity for which it was provided or collected. This will be for as long as we provide services to you, your account with us remains open or any period set out in any relevant contract you have with us. However, we may keep some data after your account is closed or you cease to use our services for the purposes set out below:

We keep most of your data as long as you’re using MKOBO, and for 7 years after that to comply with the law and if we face a legal challenge. In some circumstances, like cases of anti-money laundering or fraud, we may keep data longer if we need to (that’s in our legitimate interest) and/or the law says we have to.
To work out how long we keep different categories of data, we consider why we hold it, how sensitive it is, how long the law says we need to keep it for, and what the risks are.

Your rights

You have the right under the Nigerian Data Protection Regulation to request free of charge:

Access to your information;
Rectification or deletion of your information;
A restriction on the processing of your personal information;
Object to the processing of your information; and
Request a copy of the information that we hold about you.

You can make a request in relation to any of the above rights by writing to us at the contact address given at the end of this Privacy Policy. We will respond to such queries within 30 days and deal with requests we receive from you, in accordance with the provisions of the Law.Furthermore, you have the right to:

You also have the right to object to us using your information for marketing purposes or any additional services we may be offering you.
Lastly, you may also withdraw any consent you’ve previously given us.

Updates on our Privacy policy

This notice may be updated from time to time. Any updates we make to this notice will become effective immediately on posting on our websites.This Privacy Policy was last updated on 23/08/2022.

If you have any questions about this notice, suggestions on ways it can be improved or complaints, please let us know by sending a message via our app, emailing our Data Protection Officer can be contacted at dpo@mkobo.com.ng or writing to us at 13 Hughes Avenue, Alagomeji, Yaba, Lagos.

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MKOBOBANK is registered in Nigeria as MKOBO Microfinance Bank (No. RC1234231), 3rd floor, 13 Hughes Avenue, Alagomeji, Yaba, Lagos. You will find the growing MKOBO team working at the same location. We are authorised and regulated by Central Bank of Nigeria (CBN) under registration number 51188.By using this website, you understand that the services and products offered on this website (“Services and Products”) are for information purposes only. No persons gaining access to this website in any jurisdictions may treat any materials or information provided on this website as constituting an invitation to them to subscribe for the services, nor should they in any event use such Services, unless in the relevant jurisdiction, the Services could lawfully be made to them. Accordingly, nothing contained in this website shall constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful. It is the responsibility of any person to inform themselves and to observe all applicable laws and regulations of any relevant jurisdiction before they subscribe for the services. MKOBO shall have the final determination of eligibility to subscribe for any of the Services.For any enquiry or complaints regarding to Fraud, please contact our Fraud Help desk via email at frauddesk@mkobo.com.ngThe information contained in these pages is not intended to provide professional advice and should not be relied upon in that regard. Persons accessing these pages are advised to obtain appropriate professional advice when necessary at all times in their respective jurisdiction.