Terms Of Service

Thank you for using Pennee. These terms and conditions (“Terms”) cover your use and access to our product, services, mobile applications, websites and platforms (collectively “Services”) provided by Pennee and any of our subsidiaries (collectively “Pennee”). By using our Services, you agree to be bound by these Terms as well as our Privacy Policy here

Please note that the statements under the headings “Simply Put” are provided as a courtesy solely for your convenience and are not legally binding or intended to modify these Terms in any way.

We may revise these Terms and any of the policies from time to time. The revised version will be effective once uploaded on our platforms unless otherwise stated. If our changes reduce your rights or increase your responsibilities, we will provide you with notice of an update to our Terms. By continuing to use our services after any changes to these Terms become effective, you agree to abide and be bound by those changes. If you do not agree to these terms and conditions, please do not proceed and exit use of our Platform and access to our Services immediately. Please be informed that on notice to you, we can terminate your relationship with us if we believe that you have violated any of these terms. We shall provide you with a 3 days notice in the event that this becomes necessary

Simply Put:

By using Pennee, you agree to our Terms & Conditions (Terms).

  1. Definitions:

    The following definitions relate to these Terms and conditions

    1. “Account” or "Wallet" is an electronic stored value account on Pennee created for use by the customer. Credits, debits and charges are applied to this Account. The Account is primarily accessed through your mobile phone or any other mobile device via the Pennee mobile applications.
    2. "Agent" refers to any party or device, including authorised Pennee Agents, that facilitate Pennee transactions on behalf of customers.
    3. “App,” “Platform” collectively refers to our Services
    4. "BVN" means Bank Verification Number used by the banking industry in Nigeria and issued by a CBN-approved financial institution
    5. "CBN" means the Central Bank of Nigeria.
    6. "Content" means all information whether textual, visual, audio or otherwise, appearing on or available through the services.
    7. “Credit” means the movement of funds into an Account or Wallet.
    8. "Debit" means the movement of funds out of an Account or Wallet.
    9. “Linked Bank Account/Card” refers to a bank account, debit card or credit card that you have linked to your Pennee Account. This allows you to carry out transactions using funds from your Pennee account.
    10. “Merchant” means any person or entity who offers and or accepts payment for goods or services using Pennee.
    11. “Mobile Payments” describes the service or process that allows customers to make and receive a variety of payments using their mobile phone, among other channels.
    12. “Mobile phone” means a GSM or CDMA device, which can make and receive telephone calls and send and receive SMSs, among other communication options.
    13. “OTP” means One Time Password, used to authorise transactions or processes.
    14. “PIN” means Personal Identification Number.
    15. “Platform” means website, mobile application, software provided by Pennee for Users to access and use its Services as listed on these Platforms.
    16. “Products” refer to Pennee products, including person-to-person money transfer, bill payments, Pennee retail payment services, or other Merchant products and services provided through Pennee.
    17. “Registered phone number” refers to any phone number that has been registered on Pennee.
    18. “Services” refer to any products and services provided to the customer.
    19. “Pennee Wallet” means an electronic stored value account on Pennee used to perform transactions.
    20. “SMS” or “Short Message Service” is a standard communication service on GSM phones, which is used to exchange short text messages between mobile devices.
    21. “Loan” means the principal amount of the loan together with any interest and fees due on the loan,made or to be made to you under this Agreement from time to time through the App or (as the context requires) the outstanding repayment amount for the duration of that loan.
    22. “Credit Reference Bureau” includes any financial institution or a credit reference bureau duly licensed under the laws and regulations of the Federal Republic of Nigeria to, collect and facilitate the sharing of customer credit information.
    23. “We,” “Us,” “Our” means Pennee Inc, and any person or legal entity to whom the rights and/or obligations of the lender have been assigned to.
    24. “You,” “Your,” “Customer,” and “Borrower” means the Person who creates an account on any of our platforms and accesses any or all of our services.
  2. Interpretation

    1. In addition to the definitions in Section 1, unless the context requires otherwise: the singular shall include the plural and vice versa.
    2. A reference to any one gender, whether masculine or feminine includes the other.
    3. All the headings and sub-headings in this agreement are for convenience only and are not to be taken into account for the purposes of interpretation of this Agreement.
  3. Grant and Scope of Licence

    1. In consideration of you agreeing to abide by these Terms, we grant you a non-transferable, non-exclusive licence to use and access our Services on your mobile and electronic devices. We reserve all other rights. except as expressly set out in this Terms or as permitted by any law governing the jurisdictions within which we operate.
    2. You agree:

      1. not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the App.
      2. not to make alterations to, or modifications of, the whole or any part of our Services, or permit our Services (software, mobile applications, websites, platforms) or any part of it to be combined with, or become incorporated in, any other programs.
      3. not to disassemble, decompile, reverse-engineer, or create derivative works based on the whole or any part of our Services (software, mobile applications, websites, platforms) or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving interoperability of our Services (software, mobile applications, websites, platforms) with another software program, and provided that:
      4. the information obtained by you during such activities is not disclosed or communicated to any third party without our prior written consent; and is not used to create any software that is substantially similar to our Services (software, mobile applications, websites, platforms).
      5. you include our copyright notice on all entire and partial copies you make of our Services (software, mobile applications, websites, platforms) on any medium; and you undertake not to provide or otherwise make available our Services (software, mobile applications, websites, platforms) in whole or in part (including object and source code), in any form to any person without prior written consent from us;
      6. you agree to comply with all technology control or export laws and regulations in your country that apply to the technology used or supported by our Services (software, mobile applications, websites, platforms).

    Simply Put:

    We grant you a non-exclusive and non-transferable licence if you agree to use and access our services according to these Terms.

  4. Opening a Pennee Account and Condition of Use

    1. To access our services, you must create a Pennee Account by registering your details through our Mobile App. As part of the signup process, you will need to accept these Terms of Use and our Privacy Policy, and you must have legal capacity to accept the same. If you wish to access additional services, you may be asked to accept additional terms and conditions.
    2. If you are an individual, you must be aged 18 years or older to use our services and by creating a Pennee Account you declare that you are 18 years or older. This does not apply to products for which we may set a different age limit. We may require at any time that you provide evidence of your age.
    3. You must provide all information as may be requested by us, such as your name, BVN, residential address, email address, phone number, next of kin details, business details and such other information as we may request from time to time (collectively, “User Information”).
    4. You agree to promptly notify us of changes to your User Information by updating your profile on the Pennee Platforms and to notify us at least five business days before any changes to your bank account information, including, but not limited to, the closure of your bank account for any reason. If we approve your registration, you will be authorised to use the Account created by you, subject to these terms.
    5. By creating a Pennee Account you represent and warrant to us that your creation of a Pennee Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of these Terms.
    6. You may only add payment instruments (such as bank accounts, credit or debit cards) to your Pennee Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act prohibited by these Terms.
    7. Any cost incurred while setting up a Pennee account charged by Pennee or a Third-Party is non refundable.

    Simply Put:

    You must be aged 18 and above to access our services and must ensure that you are not violating any laws by accessing our services.

  5. Personal Information

    1. To meet our Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) obligations, we may require you to provide any or all the following:
      1. your full name;
      2. your date of birth;
      3. your Bank Verification Number (“BVN”);
      4. your current residential address;
      5. copy of a valid Government issued ID (national ID, international passport, permanent voter’s card or driver’s license);
      6. a copy of recent utility bill, bank statement, affidavit, or another bill, dated within three months of our request, which carries your name and address;
      7. any other information or document as we may require for our internal risk assessment.
    2. You warrant that all information and documentation provided to us are true, correct, and accurate. You also undertake to notify us of any changes to the information or documentation which you have provided.
    3. You agree and authorise Pennee to verify information provided by you against the information held by any third party (including official databases) such as, NIBBS, Payment System Providers or any other data verification organisation available to Pennee.
    4. The information that Pennee may verify against the information which you have provided to us include (without limitation): your name, phone number, date of birth, address, age, Identification Number (“ID”) or Passport Number and such other information that will enable Pennee to identify you and comply with the regulatory “Know Your Customer” requirements together the “Personal Information.”
    5. You hereby agree and authorise Pennee to collect and verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your mobile device, from any SMS sent to you or by you, from any 3rd party applications, and such other information as Pennee shall require for purposes of providing you our Services (the “Relevant Information”). In case you are nominating a person as your guarantor, you are also confirming that you have sought approval from the named person or persons for the same, and that they are willing to act as a guarantor for this loan facility.
    6. You hereby consent to Pennee verifying the Personal Information and the Relevant Information and using the Personal Information and the Relevant Information to the full legal extent necessary for the provision of our Services.
    7. You agree to indemnify and to not hold Pennee and its Third-Party Partners liable with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
    8. Pennee reserves the right to request for further information from you pertaining to your use of the Services at any time. Failure to provide such information within the time required by Pennee may result in Pennee declining to accept your application for an Account or access to the Services.
    9. You acknowledge and agree that when Pennee or our third-party service providers access and retrieve information from such third-party websites, Pennee and our third-party service providers are acting as your agent, and not the agent of, or on behalf of the third party.
    10. You consent to indemnify Pennee against any liability resulting from Erroneous transfers.
    11. You consent that Pennee can deduct funds from your account when such funds have been established as erroneous or fraudulent in nature.
    12. Pennee advises its Users not to give their financial details, such as BVN (Bank Verification Numbers), OTP (One Time Password) and other sensitive financial information to anyone or third parties. Pennee will not be liable if such details are compromised.

    Simply Put:

    When you create an account with us, you must provide accurate information and must continually update your user information with us.

  6. Transacting

    1. You may access the available funds in your Account at any time. While we make every reasonable attempt to provide the services as described in our marketing materials, we offer the services “as is” and without any warranties.
    2. All payments will be processed in the Nigerian local currency i.e. Naira.
    3. You can monitor the transactions happening in your revenue and credit accounts.
    4. Some transactions may require you to input your pre-configured PIN, you are solely responsible for maintaining the confidentiality of your PIN and login details of your

    Simply Put:

    All transactions carried out on our platforms must be in line with existing anti money laundering and anti-fraud regulations applicable in Nigeria. We frown against illegal activities and prohibit such activites on our platform.

  7. Funding and Transfer out of your Account

    1. Once you create your account with us, a unique ID no will be linked to your wallet and will be required when you or a third party wants to fund your account. Save for any limits that are applicable to the account, your account may be credited by transfers from other account holders on the Pennee App, through bank transfers to your Account and by cards. Your account may also be funded by Pennee if your approved loan is disbursed into the account.
    2. You may transfer the funds in your account to other accounts on the Pennee App, and to any bank account with a Nigerian bank.
    3. We may not process your transfer or payment if:
      1. If your instructions are unclear.
      2. You have insufficient funds.
      3. There is a suspicion of criminal, fraudulent or illegal activity on your Pennee Account.
      4. There is a suspicion of unauthorised access on your Pennee Account.
      5. We (and/or our Partners) are legally restricted from completing the transfers.
      6. It goes over your payment limits (where applicable).
      7. Your account has been dormant for more than 2 months.
      8. We are prohibited or restricted from doing so in accordance with the payment system regulations or any applicable law in Nigeria.
    4. You are responsible for providing the correct details for the recipient of your transfers or payments. Where payments are made according to your instructions and those instructions were wrong, but authorised, we will work with our partners to assist you in retrieving the amount if you notify us promptly. Where we are unable to retrieve the payment, we will assist you with the relevant information in our possession that you may need to reclaim your funds.
    5. You may be required to set a password/Personal Identification Number (PIN) to carry out transactions using the account. When you enter your password to confirm a transaction, you confirm that we may treat the transaction as having been authorised.
    6. Overdrawn amounts from your account may be treated as a Loan which is immediately due and repayable to us.
  8. Prohibited Transactions

    1. It is strictly forbidden for Vendors on our platform to send or receive payments as consideration for the sale or supply of:
      1. Hard drugs and drug paraphernalia
      2. Weapons (including without limitation, knives, guns, firearms or ammunition)
      3. Pornography, adult material, material which incites violence, hatred, racism or which is considered obscene
      4. Government IDs and licences including replicas and novelty items and any counterfeit products
      5. Unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses)
      6. Unregistered charity services Items which encourage or facilitate illegal activities
      7. Multi-level marketing, pyramid selling or ponzi schemes, matrix programmes or other “get rich quick” schemes or high yield investment programmes
      8. Goods or services that infringe our intellectual property rights or that of a third party.
      9. And such activities not listed here but are defined as illegal by the CBN and laws of the Federal Republic of Nigeria.
    2. It is strictly forbidden to use your Pennee Account for any illegal purposes including but not limited to fraud and money laundering. Any suspicious activity would be reported.
    3. We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories to these Terms and Conditions. If you conduct or attempt to conduct any transaction in violation of the prohibitions, we reserve the right to:
      1. Reverse the transaction while we retain any administrative fees or charges connected thereto.
      2. Close or suspend your Account with us.
      3. Be fully indemnified of any liability that might be incurred as a result of such violation.
      4. Take other lawful steps against you as we deem necessary in the circumstances.

    Simply Put:

    To enjoy access to our services, you must ensure you don’t engage in any of the prohibited transactions listed above.

  9. Liability

    In case of an unauthorised payment or a payment that was incorrectly executed due to an error by us, we shall at your request immediately refund the payment amount including all fees deducted therefrom. This shall not apply:

    1. Where the unauthorised payment arises from your failure to keep the personalised security features of your Pennee Account safe in accordance with these Terms, you shall remain liable.
    2. If you fail to notify us without undue delay of a loss of your password or any other event that could reasonably be expected to have compromised the security of your Pennee Account after you have gained knowledge of such an event, Pennee Inc shall not be liable for losses incurred within such a period of time.
    3. Where a transaction was unauthorised and you have compromised the security of your Pennee Account, you are expected to notify us within 2 weeks of the date of such transaction, failing which Pennee shall not be liable for losses incurred.
    4. We shall endeavour to take all reasonable steps to deliver uninterrupted services. However, we shall not be liable for any loss incurred as a result of any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, where such disruption or impairment is due to unforeseeable circumstances beyond our reasonable control, or the control of the intermediary affected.
    5. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.
    6. Simply Put:

      We are not liable for any unauthorised payment executed by us due to your failure to keep your information and other data safe from third-parties.

  10. Statements

    1. Your statement on the App shall provide details of your transactions in your Account as initiated.
    2. Your statement will show all transactions carried out from your Account. You must check your statement carefully and notify Pennee as soon as possible, and no later than 48 hours after receipt of your statement, if it includes any transaction or other entry which appears not to be in accordance with your instructions.
    3. Pennee, may without notice to you, rectify discrepancies, add or alter the entries in your statement to reflect the accurate position of your transactions.
    4. Save for a manifest error, a statement issued to you in respect of your Account shall be conclusive evidence of the transactions carried out on your Pennee App for the period covered in the statement.
  11. Use of Our Loans

    This is a credit account where you access asset loans and overdraft facilities to make purchases on Pennee. Repayment of this loan is made on a future date in line with the selected repayment schedule which also stipulates interest rates.

  12. Loan Fees

    1. The loan Fees payable by you in relation to any loan shall be displayed on the repayment schedule.
    2. Failure to make repayments will attract a late fee of 0.35% of interest compounding after 48 hours of delay as contained in the payment schedule. Interest on the unpaid amount will continue to be accrued post the due-date at the rate quoted at the time of loan disbursal.
    3. Pennee reserves the right to increase or decrease the loan fee from time to time in line with best business practices. Such change in loan fee will take effect on the Borrower’s account following a minimum of 3 days written notice.
    4. In the event that the borrower wishes to liquidate the loan facility before the closure date (final due date), they may contact Pennee at swift@pennee.co to understand the reduction in total amount to repay, given that the loan is being terminated early.
  13. Borrower’s Obligations

    1. To pay us, the loan sum, including any convenience, default or penalty fees, flat interest rate, and other amounts due as charged to this Account. Borrower promises to pay these amounts as agreed in this Agreement on or before the Payment Due Date.
    2. Pennee reserves the right to presume that the Borrower has authorised any loan application made in the name of the Borrower using this Account. The Borrower will be deemed responsible for any unauthorised application using this Account unless the Borrower notifies the Lender, in writing, of imminent fraud by another person on the Borrower’s account within 24 hours of such fraud.
    3. To repay the loan given to you and/or to someone you authorised to use this Account via direct cash transfer to a bank account listed by the Lender, an electronic debit from the card/account you provided on the due date, or through an acceptable electronic channel.
    4. Pennee reserves the right to accept early repayment before the Payment Due Date, provided the Borrower has given adequate notice and repays full loan along with the flat interest rate.
      1. You hereby indemnify us against any and all losses, liabilities or damages that may arise in the event that you use a third party’s card on your Account without the consent of such third party.
      2. In the event of a default or insufficiency of funds in your bank account, you hereby authorise us to charge any other cards you may have on your Account or profile other than the primary card listed on an ongoing basis until the debt is settled.
    5. You agree to give Pennee authentic and up-to-date personal, social media, phone and financial records about you that we may reasonably request and analyse, from time to time.
    6. The Borrower shall indemnify and its representatives (each, an “Indemnified Person”) from and against any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including, without limitation, counsel’s fees and disbursements and other costs of investigation or defence, including those incurred upon any appeal) which may be instituted or asserted against or incurred by any Indemnified Person as the result or arising out of:
      1. credit having been extended, suspended, or terminated under this Agreement, or
      2. any loan documents and the administration of such credit and in connection with or arising out of the transactions contemplated under this Agreement or any loan document and any actions or failures to act in connection therewith and any legal costs and expenses arising out of or incurred in connection with disputes between or among any parties to this Agreement or any loan document (collectively, “Indemnified Liabilities”);
      3. provided that the Borrower shall not be liable for any indemnification to an Indemnified Person to the extent that any such suit, action, proceeding, claim, damage, loss, liability or expense results solely from that Indemnified Person’s gross negligence or wilful misconduct, as finally determined by a court of competent jurisdiction.
    7. The Borrower also agrees:
      1. Not to give us false information or signatures, electronic or otherwise, at any time.
      2. To pay a late Fee or penalty fee as may be provided in the repayment schedule.
      3. To make all payments via direct debit on cards or by electronic funds transfer as stated in the application.
      4. To promptly notify us if you change your name, your mailing address, your e-mail address or your telephone number.
      5. To honour any other promises that you make in this Agreement.
      6. Not to accept this Account unless you are of legal age and have the capacity to enter into a valid contract.
      7. Not to use Pennee for any act of illegality or criminality as Pennee will not be criminally culpable for any illegality committed by you.
      8. To give Pennee legal authority to deduct full repayment before the due date where it is established that the loan was obtained fraudulently.
      9. To fill out the application form (as provided) with accurate information and details as required.
  14. Pennee’s Obligations

    1. To make available the loan/credit facility to the Borrower of a figure not less than NGN20,000 or more that NGN7,000,000
    2. To perform above upon confirmation of the Borrower’s identity and personal information
    3. To demand repayment for the Borrower as and when due
    4. To conduct investigations on the Borrower prior to opening an account for the Borrower
    5. To use all reasonable and legitimate means to collect the amount extended to the Borrower, the default fee, the transaction fees and any other penalty fee imposed on the Borrower as a result of the loan.
    6. Not to store or save Borrower’s debit or credit card details given by the Borrower in the application form.
  15. Credit Reference

    The Pennee or its duly authorised representatives/agents will utilise dedicated Credit Agencies for a credit report on the Borrower in considering any application for credit.

  16. Notices

    1. The Borrower agrees that Pennee may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:
      1. To the most recent physical address of the Borrower
      2. By delivery to any email address provided during the application process.
      3. By delivery of an SMS to any mobile telephone number the Borrower has provided to The Lender.
  17. Event of Default

    Default in terms of this Agreement will occur if:

    1. The Borrower fails to make any scheduled repayment in full on or before the payment due date in accordance with the repayment plan given to the Borrower.
    2. Any representation/information, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or
    3. The Borrower does anything which may prejudice the Pennee's rights in terms of this Agreement or causes the Lender to suffer any loss or damage.
    4. In the event of any default by the Borrower subject to Clause 17. Above
      1. Pennee 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 amount.
      2. Pennee also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.
      3. The Borrower shall indemnify Pennee and its representatives (each, an “Indemnified Person”) from and against any and all suits, actions, proceedings, claims, damages, losses, liabilities and expenses (including, without limitation, counsel’s fees and disbursements and other costs of investigation or defence, including those incurred upon any appeal) which may be instituted or asserted against or incurred by any Indemnified person as the result or arising out of:
        1. credit having been extended, suspended or terminated under this Agreement or
        2. any loan documents and the administration of such credit and in connection with or arising out of the transactions contemplated under this Agreement or any loan document and any actions or failures to act in connection therewith and any legal costs and expenses arising out of or
        3. incurred in connection with disputes between or among any parties to this Agreement or any loan document (collectively, “Indemnified Liabilities”);
        4. provided that the Borrower shall not be liable for any indemnification to an Indemnified Person to the extent that any such suit, action, proceeding, claim, damage, loss, liability or expense results solely from that Indemnified Person’s gross negligence or wilful misconduct, as finally determined by a court of competent jurisdiction.
  18. Termination and suspension

    1. You may terminate your Pennee Account with us at any time.
    2. Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to access remaining funds.
    3. We may at any time suspend or terminate your Pennee Account in case you breach any condition of these Terms of Use or any other condition applicable to specific services covered by separate terms and conditions.
    4. We may suspend your Pennee Account at any time if:
      1. We reasonably believe that your Pennee Account has been compromised or for other security reasons. We reasonably suspect your Pennee Account to have been used or is being used without your authorization or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify. In addition to Termination by default, we may terminate this Agreement at any time and for any reason subject to the requirements of applicable law. When Termination arises as a result of default, you will not be able to apply for credit in future.
  19. Taxes

    1. All payments to be made by you in connection with these Terms and Conditions or any Services provided to you by Pennee may be calculated without regard to any taxes payable by you or in respect of the Services. If any taxes are payable in connection with the payments, you must ensure that you pay such taxes and that you pay to Pennee such additional amounts as will result in Pennee receiving the full amount it would have received had no such taxes been applicable to the payments.
    2. You hereby consent and agree that Pennee may withhold amounts in your Account if we are required to do so in accordance with the direction of any tax authority, or Pennee is otherwise required by law or regulation or pursuant to agreements with any tax authority to do so, or if Pennee needs to comply with internal policies or with any applicable order or sanction of a tax authority. You will, however, be notified if such deductions are made.
    3. All payments to be made by you under this Agreement shall be made in full without any set off or counterclaim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Pennee, you shall immediately pay to Pennee such additional amounts as will result in Pennee receiving the full amount it would have received had no such deduction or withholding been required.

    Simply Put

    We are a tax compliant company and ensure that all our users are tax compliant. You must remit tax as required even while using our services.

  20. Intellectual Property Rights

    1. Unless otherwise indicated, the Site, Mobile Applications and platform are our proprietary property and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics (collectively, the “Content”) and the trademarks, service marks, product and logos contained therein (the “Marks”) are owned or controlled by us or licensed to us and are protected by copyright and trademark laws and various other intellectual property rights and unfair competition laws of the Nigerian, foreign jurisdictions, and international conventions.
    2. The Content and the Marks are provided on the platform and App “AS IS” for your information and personal use only. Except as expressly provided in these Terms and Conditions, no part of the Site and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission.
    3. Provided that you are eligible to use the Site, you are granted a limited licence to access and use the Site and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the Site, the Content, and the Marks.

    Simply Put

    We own our intellectual property rights. Our trademarks, copyrights, patents, trade secrets where necessary belong to us and our subsidiaries only. You are not permitted to use any of our intellectual property.

  21. User Representations

    By using our Services, you represent and warrant that:

    1. all registration information you submit will be true, accurate, current, and complete;
    2. you have the legal capacity, and you agree to comply with these Terms and Conditions.
    3. you are not under the age of 18,
    4. you are not using the product for money laundering as espoused in the Nigerian Money Laundering Act of 2011.
    5. you will not access the Site through automated or non-human means, whether through a bot, script, or otherwise.
    6. you will not use the Site for any illegal or unauthorised purpose.
    7. your use of the platforms will not violate any applicable law or regulation. If you provide any information that is untrue, inaccurate, not current, or incomplete, we have the right to suspend or terminate your account and refuse any and all current or future use of the platform.
  22. Keeping Your Account Secure

    1. It is your duty to keep your security information relating to your account and the Pennee App secure. Where you suspect that the security of your Account may have been compromised, you are required to inform us as soon as possible. Please change your password and any other security credential immediately. Pennee will not be liable for transactions carried out where access to your account has been compromised by you, malware or human interference outside of our control.
    2. You agree to keep your password confidential and will be responsible for all use of your account and password. We reserve the right to remove, reclaim, or change a username you select if we determine, in our sole discretion, that such username is inappropriate, obscene, or otherwise objectionable

    Simply Put

    It is your duty to keep your account and its information secure at all times. We shall not be liable for your failure to do so.

  23. Entire Agreement

    1. These Terms and Conditions and our Privacy Policy constitute the entire agreement between You and us supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
    2. You acknowledge that in entering into this Agreement you have not relied on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.
  24. Contact Us

    1. If you wish to contact us, or if any condition in these Terms and Conditions requires you to give notice to Pennee you may send such communication to us by e-mail to swift@pennee.co or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.
    2. If we have to contact you or give you notice in writing, we may do so by posting such notice on our website; the App, by e-mail or SMS to the mobile phone number or e-mail address you provided to us.
  25. Governing Law and Dispute Resolution

    1. This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. In the event of any dispute/complaint, you may write to us at swift@pennee.co and we shall try our utmost to resolve the same internally at the earliest. In the event that this is not possible, disputes will be resolved by arbitration on an individual basis.
    2. The Parties shall in good faith make efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with these Terms and Conditions.