PREAMBLE
Obollo Microfinance Bank Nigeria Limited (“we”, “our”, “us”) is committed to protecting the privacy and security of personal data entrusted to it by its customers. This Privacy Policy describes the privacy rights of all persons (‘Data Subjects’) who interact with us on or through our website, mobile app, and USSD services (‘the Platforms’), and our approach to safeguarding those privacy rights while ensuring compliance with relevant laws and regulations, including but not limited to the Constitution of the Federal Republic of Nigeria 1999 (as amended), Nigeria Data Protection Regulation (NDPR), Central Bank of Nigeria (CBN) guidelines, and Anti-Money Laundering (AML) requirements.
This Privacy Policy is intended to be read alongside the Platforms’ Terms of Use. By accessing or using our Platforms, you agree to the collection, use, disclosure, and processing of your personal information as described herein.
The term “Services” refers to any of the financial products or services provided on the Platforms. “User,” “customer,” or “subscriber” refers to any individual interacting with our Platforms. “Personal Information”, “Personal Data”, or “Data” means any information that identifies or can be used to identify a User, including but not limited to name, email address, mobile number, date of birth, bank details, transaction information, or IP address.
GUIDING PRINCIPLES
In processing personal data, we adhere to the principles stipulated under the NDPR and ensure that:
- Data is collected and processed for specific, legitimate, and lawful purposes, with User consent before collection.
- Data may be further processed for archiving, research, statistical purposes, and public interest, where permitted by law.
- Data collection and processing is adequate, accurate, and respects the dignity of the individual.
- Data is retained only for as long as reasonably required by law or business needs.
- Data is secured against unauthorized access, theft, cyberattacks, viral attacks, dissemination, or manipulation.
USER OBLIGATION
Users must treat any username, identification code, password, or other security information as confidential and must not disclose it to third parties. We reserve the right to disable any user credentials if we believe they have been compromised. Users must promptly notify us if they suspect unauthorized access.
Users are responsible for providing accurate information to us. We may request supporting documentation to verify your information, including official ID cards or Bank Verification Numbers (BVN).
USER RIGHTS
Under the NDPR, users have the following rights regarding their personal data:
Right to access your personal data
Right to be informed about the processing of your personal data
Right to rectify any inaccurate personal data
Right to restrict or block processing in violation of law
Right to data portability
Right to lodge a complaint with a supervisory authority in Nigeria
Currently, users cannot directly access, update, or delete their data through the Platforms.
CONSENT
By using our Platforms, you acknowledge that you have read, understood, and consent to the collection, use, and disclosure of your personal data as described in this Policy.
You may withdraw consent by contacting us via info@obollomfb.ng
, but withdrawal may limit your ability to use our Platforms.
DATA COLLECTION
Personal Information Collected
We collect the following information through our Platforms:
- Full name
- Phone number
- Email address
- Date of birth
- Bank account details
- Transaction details
Automatically Collected Data
We may collect data about your interactions with the Platforms, including IP address, device type, operating system, browser type, usage patterns, and location.
Mobile Application Data
Our mobile app may collect device information and app usage statistics. Push notifications are optional for email but mandatory for SMS service.
Cookies
We use cookies and similar technologies to enhance user experience, remember user preferences, track usage patterns, and improve our services. Users can adjust browser settings to manage cookies; however, refusal may limit functionality.
WHY WE COLLECT PERSONAL INFORMATION
We collect personal information to:
- Provide and improve our services (savings, loans, fund transfers, ATM services)
- Communicate service updates, alerts, and support information
- Comply with legal and regulatory obligations (CBN, NDPR, AML)
- Conduct marketing and promotional activities (users may opt out of emails; SMS notifications are mandatory)
- Respond to legal requests or investigations
- Facilitate business transactions, mergers, or acquisitions
LIMITATIONS TO DATA COLLECTION
We collect only information necessary for the purposes described. We do not knowingly collect personal information from individuals under 18 for mobile app registration.
DISCLOSURE / SHARING OF PERSONAL INFORMATION
We may share personal information with:
Regulatory bodies such as CBN and NIBSS
Vendors and service providers for operational support
Employees, contractors, consultants, and agents acting on our behalf
Law enforcement, courts, or government authorities as required by law
Third parties in the event of a business transfer, merger, or acquisition
All third parties are required to protect your information in accordance with this Privacy Policy.
DATA RETENTION
We retain personal information only as long as necessary to fulfill business and legal requirements. Inactive accounts are archived according to regulatory timelines.
DATA SECURITY
Personal data is stored on secure servers with encryption and other technical safeguards. Access is restricted to authorized personnel. Users are responsible for safeguarding their passwords and logging out after using shared devices.
THIRD-PARTY WEBSITES AND LINKS
Our Platforms may contain links to third-party websites. We are not responsible for the privacy practices of these sites. Users should review third-party privacy policies directly.
PRIVACY POLICY CHANGES
This Privacy Policy may be updated at any time. Changes will be posted on our website. Continued use of the Platforms constitutes acceptance of the updated policy.
CONTACT US
If you have questions about this Privacy Policy or your data privacy rights, please contact us at:
Obollo Microfinance Bank Nigeria Limited
21 University Road, Obollo Afor, Undenu LGA, Enugu State, Nigeria
Email: info@obollomfb.ng