1. Introduction and Acceptance

Welcome to Diobu Microfinance Bank ("the Bank," "we," "us," or "our"). These Terms and Conditions ("Terms") govern your access to and use of our website, mobile application, and digital banking services (collectively, the "Services").

By accessing our website, downloading our mobile application, or using any of our digital banking services, you ("Customer," "you," or "your") confirm that you have read, understood, and agree to be legally bound by these Terms. If you do not agree to these Terms, please do not use our Services.

These Terms constitute a binding agreement between you and Diobu Microfinance Bank and outline the rules and regulations for the provision of our digital banking services.

2. Definitions

In these Terms, the following terms shall have the meanings specified below:

3. Eligibility and Account Opening

3.1 Eligibility

You confirm that you are at least eighteen (18) years of age or that you are accessing the Services under the supervision of a parent or legal guardian. By using our Services, you confirm that you have the legal capacity to enter into this agreement.

3.2 Account Opening

To open an Account with us, you must:

• Provide accurate, complete, and current information as requested in our registration form and account opening documents.
• Submit all required documentation for Know Your Customer (KYC) compliance, including but not limited to: valid identification document, proof of address, Bank Verification Number (BVN), and passport photograph.
• Ensure that all information provided is true, correct, and not misleading.

3.3 Account Rejection

The Bank reserves the right to decline your Account application or process your payments if you are unable to provide any of the information we require or for any other reason. We are not obliged to inform you of the reason why your application was declined.

3.4 Account Closure

We reserve the right to close your Account if you violate any of these Terms, provide false or misleading information, or if your Account is operated illegally or to further criminal activity.

4. Registration and Security Details

4.1 Registration

Before you can access the Services, you must register and obtain your Access Code, username, and/or PIN. These security credentials are known only to you and are used to access the Services.

4.2 Safeguarding Security Details

You undertake to be absolutely responsible for safeguarding your Access Code, username, PIN, and password. Under no circumstances shall you disclose any of these to any person, including Bank staff.

Specifically, you agree to:

• Never disclose your Access Code to any third party.
• Not write your Access Code in an open place or in a manner that could allow third parties to discover it.
• Change your password immediately if it becomes known to anyone else.
• Not store your Access Code on your device in an unsecured manner.
• Not use the App on a rooted or jail-broken mobile device, as these modifications bypass security features and can compromise your security.

4.4 Liability for Unauthorized Access

The Bank is expressly exempted from any liability arising from unauthorized access to your Account and/or data which arises as a result of your failure to safeguard your Access Code, PIN, and/or password, or failure to log out of the system completely.

You shall be responsible for any fraud, loss, and/or liability to the Bank or any third party arising from the use of your Access Code by any third party.

4.5 Reporting Unauthorized Access

Where you become aware that your Access Code has been compromised or that your device has been lost or stolen, you must:

• Immediately notify the Bank through our customer support channels.
• Request that the Bank block or suspend your Account access.

However, the Bank shall not be responsible for any loss that occurs between the period of compromise and the time the report is lodged with the Bank.

5. Use of Services

5.1 Permitted Use

You must use the Services for lawful purposes only. You agree not to use the Services:

• For illegal purposes or the transmission of material that is unlawful, harassing, libelous, invasive of another's privacy, abusive, threatening, or obscene.
• To impersonate any person or organization.
• To commit fraud or engage in any criminal activity.
• In a way that could damage, disable, overburden, impair, or compromise the Bank's systems or security.

5.2 Commercial Use

Your right to use the Services is personal. You agree not to assign or make any commercial use of the Services without our prior written consent.

5.3 Proprietary Rights

The Bank owns all rights to the Website, App, and the content displayed on them. You are only permitted to use this content as expressly authorized by the Services. You may not copy, reproduce, distribute, or create derivative works from this content.

5.4 Mobile Banking Specific Provisions

Mobile banking is dependent on the infrastructure, connectivity, and services provided by telecommunication service providers. You accept that timeliness, accuracy, and/or readability of electronic alerts will depend in part on these third-party service providers. The Bank is not responsible for non-delivery or delayed delivery, error, loss, or distortion in transmission of electronic alerts if this is due to the fault of such service providers.

5.5 USSD Banking

USSD banking is available to you only if you are within the cellular network service range of the network service provider providing services to you. The Bank is not responsible for your inability to use USSD banking if you are not within such network service range.

You agree to pay us and any third-party telecommunication providers all applicable rates and charges related to your use of USSD banking, and we shall debit from your Account any unpaid rates and charges.

6. Transactions and Instructions

6.1 Execution of Instructions

On receipt of instructions, the Bank will endeavor to carry out your instructions promptly, except in unforeseen circumstances such as Act of God, Force Majeure, and other causes beyond the Bank's control.

6.2 Irrevocability of Instructions

Transactions initiated through the Services, particularly mobile banking and USSD banking, are generally irreversible. Once an instruction is given and executed, it shall not be revoked.

6.3 Transaction Limits

You agree to operate within the maximum limits permitted by the Bank for various transaction types. The Bank reserves the right to change transaction limits at any time.

6.4 Accuracy of Information

You must check that all data provided in your instructions is complete and accurate before sending to the Bank. Any risks of misallocation of funds as a result of wrong information shall be borne by you.

6.5 Insufficient Funds

You will not be allowed to effect a transaction that causes the Account balance to go below zero or an overdraft facility approved amount or the authorized limits maintained in the system.

6.6 Account Balance Information

Any information pertaining to your Account as reported through the App may not always be completely up to date, as there may be transactions that have yet to be processed or require verification. The account balance shown shall not, for any purpose whatsoever, be taken as conclusive of your Account's balance with the Bank.

7. Fees and Charges

7.1 Applicable Fees

Prevailing fees and charges will apply to the Services. Upon enrollment for the Service, you may be charged applicable monthly fees and/or usage fees whether or not you make use of the Service during the period in question.

7.2 Debit Authorization

The Bank is entitled and authorized to debit your Account with any fees applicable to transactions effected as a result of your instructions.

7.3 Changes to Fees

You agree that fees and charges are subject to change. The Bank will notify you of such changes via the email address or contact information associated with your Account.

8. Customer Responsibilities and Undertakings

8.1 Accurate Information

You undertake to provide true, accurate, current, and complete information about yourself as requested in our registration form and account opening forms. You agree to promptly notify the Bank of any subsequent changes in your Account information.

8.2 Safeguarding Your Account

You undertake to:

• Be absolutely responsible for safeguarding your Access Code and PIN.
• Ensure your device is always secured.
• Log off from the Services to end sessions.
• Not share your Access Code with anyone, including Bank staff.

8.3 Liability for Transactions

You are responsible for all authorized transactions initiated and fees incurred by use of your Account. If you permit another person to have access to the Account, it will be treated as if you authorized such use and you will be liable for all transactions and fees incurred by those persons.

9. Limitation of Liability

9.1 General Limitation

Under no circumstances will the Bank be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses, or expenses arising in connection with the Services or use thereof or inability to use by any party.

9.2 Specific Exclusions

The Bank shall not be liable for:

• Any failure, error, omission, interruption, defect, delay in operation, transmission, computer virus, or line or system failure.
• Unauthorized access to or alteration of your data.
• Any loss caused by viruses encountered in the course of making use of the Services.
• Your inability to use the Services due to network availability issues.
• Losses or claims arising from instructions subject to deadlines not being met.

9.3 Force Majeure

The Bank shall not be responsible for any loss, damage, or delay arising from circumstances beyond our reasonable control, including but not limited to acts of God, war, terrorism, strikes, governmental actions, power failures, or telecommunication network failures.

9.4 Maximum Liability

To the extent permitted by law, our aggregate liability to you for all claims arising out of or related to these Terms or your use of the Services will not exceed the amount of any affected transaction(s) giving rise to such damages.

10. Indemnification

Except when caused by the Bank's intentional misconduct or gross negligence, you agree to indemnify and hold harmless the Bank and its subsidiaries and service providers from any and all third-party claims, liability, damages, expenses, and costs (including legal fees) caused by or arising from your use of the Services, violation of these Terms, or infringement of any intellectual property or other right of anyone.

11. Privacy and Data Protection

11.1 Collection of Information

By using the Services, you consent to the Bank collecting, processing, and storing your personal information for the purposes of providing the Services and complying with regulatory requirements, including the CBN and Nigeria Data Protection Regulation (NDPR) requirements.

11.2 Disclosure of Information

The Bank may disclose your information to third parties if required by law, a public duty, or to protect our interests or reputation. This may include disclosure to law enforcement agencies, regulatory authorities, or the Nigeria Inter-Bank Settlement Systems (NIBSS).

11.3 KYC Compliance

You consent to the Bank requesting additional information or documents from you and, where applicable, conducting periodic KYC verification. The Bank reserves the right to deactivate your Account if you are unable to provide the requested information or provide inaccurate, incomplete, or false information.

12. Changes to Terms

12.1 Amendments

The Bank reserves the right to change, modify, add, or remove any of these Terms at any time with or without prior notice.

12.2 Notification

All updates or changes to these Terms will be detailed on our Website and our mobile application. You will be able to access the latest version of these Terms on these platforms at any given time.

12.3 Continued Use

Your continued use of the Services after any amendment to these Terms means you have agreed to be bound by the updated Terms.

13. Termination and Suspension

13.1 Termination by Bank

The Bank may terminate your Account or User Account, delete your user profile and any information therein, and prohibit you from accessing the Services at any time in our sole discretion, with or without notice, including if we believe you have violated these Terms.

13.2 Suspension

In order to maintain the security and integrity of the Services, the Bank may suspend your access to the Services at any time without notice.

13.3 Effect of Termination

Upon termination, your right to use the Services ceases immediately. The Bank will not be liable to you or any third party for any modification or discontinuation of the Services.

14. Governing Law and Dispute Resolution

14.1 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

14.2 Dispute Resolution

Any dispute arising out of or in connection with these Terms shall first be referred to the Bank's Customer Service team for resolution. If the dispute is not resolved within 14 days, it shall be referred to arbitration in accordance with the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, 2004.

15. General Provisions

15.1 Entire Agreement

These Terms constitute the entire agreement between you and the Bank regarding the Services and supersede all prior agreements, understandings, and representations.

15.2 Severability

If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

15.3 Waiver

The Bank's failure to enforce any right or provision of these Terms shall not be deemed a waiver of such right or provision.

15.4 Assignment

The Bank may transfer or assign our obligations under these Terms and any rights under these Terms to a third party without your consent.

16. Contact Information

If you have any questions, concerns, or complaints regarding these Terms or the Services, please contact us through:

For complaints, please use our official complaint channels. All complaints will be acknowledged and resolved in accordance with the Bank's complaint handling procedure.

17. Acknowledgement

These Terms and Conditions were last updated on 28th July, 2026.