1.1. "Agent" refers to any registered business entity that is authorized to engage in the sale and distribution of MoMo PSB products and services and or accepts Mobile Money or any other authorized similar services as payment for goods and services offered.

1.2. "Credit" means the process by which a subscriber deposits Funds into his/her Wallet.

1.3. "Customer" or "Subscriber" means the individual in whose name the wallet is registered.

1.4. "Debit" means the removal of funds by a Customer/Subscriber From his/her Wallet.

1.5. "GSM" means Global System for Mobile Communications as deFined in the European Technical Standards Institute of specifications.

1.6. "Mobile Money" or "MoMo" means the digital payment module made available by the MoMo PSB.

1.7. "Personal Information" shall reFer to any information relating to an identified or identifiable natural person and as deFined under the Nigerian Data Protection Regulation 2019 or any amendment to it..

1.8. "Service/Services" means the MoMo payment service provided by MoMo PSB.

1.9. "Terminal Equipment" means a terminal and accessories thereto utilized by the Customer/Subscriber to send and/or receive messages and voice calls via a telecommunications network (which is commonly known as the mobile handset).

1.10. "SIM Card" means a Subscriber Identification Module (incorporating an International Mobile Subscriber Identifier - 'IMSI' and Mobile Station Integrated Services Digital Network - 'MSISDN') which when activated by a telecommunications operator provides a Customer/Subscriber using a compatible Terminal Equipment with access to its network.

1.11. "SMS" Short Messaging System commonly referred to as text message.

1.12. "USSD" means Unstructured Supplementary Service Dal-a..

1.13. "We/Us" means MoMo Payment Service Bank, i.e. MoMo PSB.

1.14. "Wallet" means the account holding the Customer/Subscriber's funds and through which the Customer/Subscriber is able to carry out transactions.

1.15. "You" means the Customer/Subscriber making use of the Service.

2.1. These are the terms and conditions upon which You may use the Service provided by MoMo PSB, the acceptance of which constitutes a binding contract between yourself and MoMo PSB.

2.2. When You register as a MoMo Customer/Subscriber by signing/completing the registration form provided to You, You agree to abide by these conditions of use of the Service. You therefore need to read and Fully understand the conditions of use and if You do not agree to the terms as stated herein, please do not proceed to register For and/or use the Service.

3.1. The Service is made available subject to these terms and conditions of use.

3.2. You must comply with the instructions that MoMo PSB may give You from time to time about the Services.

3.3. With the exception of calls made to our Customer Service Help Line and other designated toll-Free numbers, all calls will be charged according to the applicable tariff plans.

3.4. Your calls, mails or SMS may be monitored or recorded For use in business practices such as quality control training, ensuring effective system operation, prevention of unauthorized use of telecommunications system and detection and prevention of crime.

3.5. Customers will be charged For all the telecommunications services (i.e. SMS or USSD session) utilized to carry out a transaction.

3.6. MoMo PSB will reasonably endeavour to make its Services accessible within the coverage area. MoMo PSB does not guarantee that the Services will be available at times.

3.7. MoMo PSB reserves the right to make changes or corrections, after, suspend, discontinue or terminate any aspect of the MoMo PSB platform and Services, and Your access to it, at any time immediately without notice, depending on the circumstances.

3.8. MoMo PSB will not be responsible or liable for any loss whatsoever or howsoever arising as a consequence of any non-availability of the Services. The Services are not fault free and Factors including (but not limited to) acts of God, geographical topography, weal-her conditions, planned maintenance or rectification work on the MoMo PSB platform or regulatory requirements may interfere adversely with the quality and provision of the Services.

3.9. In the event of damage I-o, loss or theft of Your SIM Card, You are obliged to inForm Us immediately of such damage, loss or theft. Momo PSB will then disable Your Wallet so as to prevent Further use of the Services until You notify Us that Your SIM Card has been replaced. Please note that You will be responsible for all charges and transactions effected up to the time of receipt by Us of Your notification of the damage, loss, or theft. Notification of any such damage, loss or theft may be given by telephoning the Customer Care Centre. You indemnify Us against any claims made in respect of any transactions effected with MoMo PSB and SIM Card prior to such notification being received.

3.10. Please take note that the use of the Service comes with a risk that Your communications may be unlawfully intercepted or accessed by persons other than the intended recipient. Accordingly, MoMo PSB cannot accept any liability for any loss, injury or damage whether direct or consequential arising out of any such compromise of confidentiality of Your information.

4.1. You are deemed to have accepted these terms and conditions of use of the Services as amended From time to time and which take effect upon registration and/or upon the initial activation of Your MoMo Wallet.

5.1. Wallet is opened and owned by Momo PSB and this Service is currently available to anyone who meets requirements set by MoMo PSB and the Central Bank of Nigeria ("CBN").

6.1. Nigerian citizens with a valid photo identity card and other relevant documents may apply for a Wallet.

6.2. Foreigners wanting to benefit From the Service would be required to provide evidence of residence in the Form of a residence permit and have a telephone number duly registered in line with the requirements of the Nigerian Communications Commission ("NCC").

6.3. We will require Your personal del-ails and information before a decision is made on Your application. All information provided pursuant to an application must be complete and accurate.

6.4. We may decline Your application at our sole discretion.

6.5. We will verify Your identity and all information provided and may refuse to open a Wallet for You if We are not satisfied with any information provided pursuant to Your application.

6.6. Your Wallet will be held and operated by MoMo PSB.

6.7. Persons below the age of 18 (minors) may open a Wallet using a guarantor. The guarantor will have to provide some information on a guarantor form as Follows:

7.1. MoMo PSB may collect certain Personal Information during the course of Your application For a Wallet and, generally, in the course of use of the Service. By accepting these terms and conditions You consent to MoMo PSB processing, storing and sharing of Your Personal Information. All personal information shall be stored, processed and dealt with in line with MoMo PSB's Privacy Policy available on the MoMo PSB website, the Nigerian Data Protection Regulations 2019 and any other applicable extant regulations.

7.2. You also unequivocally consent to and grant MoMo PSB the right to use such data to verify the Your identity, telephone number and other provided information whenever required during Your use of the Service.

8.1. MoMo PSB may suspend (bar), restrict or terminate the provision of the Services (in whole or part) and/or close Your Wallet without informing You and without any liability whatsoever (although, MoMo PSB will, where possible, try to inform You that such action is or may be taken) under the Following circumstances:

8.1.1. If MoMo PSB is aware or has reason to believe that Your Terminal Equipment or MSISDN/ MoMo PIN number used in relation to the MoMo PSB services is/are being used in an unauthorized, unlawful, improper or Fraudulent manner or For criminal activities (or has been so used previously);

8.1.2. IF You do not comply with any of the conditions relating to the MoMo PSB services Including these conditions of use;

8.1.3. IF You notify MoMo PSB that Your Terminal Equipment has been lost or stolen or Your MoMo PSB PIN has been lost or disclosed to any other party;

8.1.4. If You do anything (or allow anything to be done) with Your Terminal

Equipment which may damage or affect the operation or the security of the MoMo platform or Services; and

8.1.5. For reasons outside of Momo PSB's control (i.e. in compliance with its on order of the law courts of the Federal Republic of Nigeria or based on directive From a law enforcement agency).

8.2. To access the MoMo PSB services, Your SIM Card must be operational ("active") at all times. Please note that if Your SIM Card is inactive for a consecutive period of 180 (One Hundred and Eighty) days, Your SIM Card may be deactivated by Your mobile network operator. Furthermore, if You do not undertake a revenue generating activity For a consecutive period of 365 (Three Hundred and Sixty-Five) days, Your mobile network operator shall disconnect the SIM Card From Your use and recycle same.

8.3. IF Your Wallet is inactive for a period of 24 (Twenty-Four) months, Your Wallet will be closed and any Funds therein remitted to the Central Bank of Nigeria in line with the Directives on E-money issuance.

8.4. MoMo PSB will also close Your Wallet upon receipt of Your request to do close same.

8.5. Where the use of Your MoMo PSB PIN has been suspended or disconnected or Your Wallet closed, any credit balance in Your Wallet will be repaid to You in cash upon Your presenting yourself at any of our Customer Care Centers with a valid proof of identification and satisfactory response to any requested information. You will only be paid any applicable credit balance in cash upon satisfactory evidence of Your identity being produced.

8.6. In addition to Clause 8.5 above, any amount owed to You can be transferred to Your bank account at Your request.

8.7. MoMo PSB will not be responsible to You for any direct, indirect, consequential, or special damages arising from any act or omission by MoMo PSB or any third party For whom MoMo PSB is responsible, whether arising in contract or statute if MoMo PSB closes or suspends Your Wallet in terms of this Clause 8.

9.1. All tariffs as published are payable for each transaction effected from Your Wallet. The 'Tariff Guide' will be available at MoMo PSB's Customer Service Centers or by accessing the MoMo PSB website.

9.2. Tariffs payable on each transaction will be deducted from Your Wallet on the conclusion of each transaction and Your new balance shall be notified to You by SMS.

9.3. All tariffs are subject to other applicable levies as prescribed by regulations and extant laws at the prevailing rates at the time of the transaction.

9.4. All charges payable by You in connection with the use of the Services shall be debited from Your Wallet without Further reference to You.

10.1. All transactions shall be in Nigerian Naira.

10.2. All debit transactions From Your Wallet will be effected by transfer instructions authorized with the MoMo PIN which You select when You register, or by such other method MoMo PSB may prescribe from time to time.

10.3. No transaction can be effected without entering and validating Your MoMo PIN. You will have 3 (three) attempts to enter the right MoMo PIN. If You enter the wrong MoMo PIN on the third attempt, the Wallet will be disabled. In the event that the Wallet is disabled, Customers can call the call center to reset their MoMo PIN. The MoMo PIN shall only be reset upon successful validation of the identity of the Customer and satisfactory provision of requested information. MoMo PSB shall bear no liability to You where the requester of the reset adequately satisfies the security checks.

10.4. Your Wallet will be credited when You purchase MoMo or when same is transferred to Your Wallet from another Customer.

10.5. You may not effect any transaction from Your Wallet in the event that You do not have sufficient MoMo in Your Wallet to meet the value of the transaction and applicable charges thereto.

10.6. The Service will verify and confirm all transactions effected From Your Wallet by SMS to You. The Service records/database will be taken as accurate unless the contrary is proved.

10.7. On being provided with a Wallet, You will be able to effect the Following transactions:

10.7.1.A credit transaction by making a payment in cash directly to an Agent in exchange for an equivalent amount of MoMo to be credited into Your Wallet. Upon a credit transaction being made, the Service shall credit Your Wallet accordingly less applicable charges, taxes and levies.

10.7.2.A debit transaction by the exchange of MoMo for cash at any Agent by sending a transfer instruction to the Service and entering Your MoMo PIN on Your Terminal Equipment when requested to do so. The Agent will pay the equivalent amount of cash to You less applicable charges, taxes and levies.

10.7.3.The transfer of MoMo to another Customer by sending transfer instructions via the Service in favour of the Wallet of such Customer, specifying the amount to be transferred.

10.7.4.The purchase of goods and services from Authorized Retailers by transfer instructions via the Service of the amount to be transferred to the Authorized Retailers Wallet in settlement of the goods and/or services purchased.

10.8. Upon any credit transaction and debit transaction being effected, the Service shall credit or debit, including applicable charges, taxes and levies Your Wallet once the sum is equally credited to, withdrawn, or transferred by You from Your Wallet.

10.9. The Service will confirm every transaction made by way of SMS together with an updated balance of Your Wallet.

10.10. Any debit transactions given using Your MoMo PIN will be charged to Your Wallet. You acknowledge that unless, and until MoMo PSB receives notice from You that Your MoMo PIN is no longer secure and/or that Your Terminal Equipment has been lost or stolen, MoMo PSB shall rely on the use of the MoMo PIN as conclusive evidence that a debit transaction has been authorized by You, even iF it is actually made without Your authority. MoMo PSB shall not require any written confirmation of any transaction instruction or require any further confirmation/authorisation other than Your MoMo PIN.

10.11. You are responsible for resolving any disputes arising with any other Customer or an Authorized Retailer without recourse or cost to MoMo PSB.

10.12. Your Wallet may only be operated by the use of Agents/Retailers within the territory of the Federal Republic of Nigeria.

10.13. Each transaction is identified by a unique reference number which is used to track and identify all transactions carried out on Your Wallet. A confirmation SMS will be sent to You with an updated balance of Your Wallet after each transaction.

11.1. Only one MoMo PIN can be linked to Your Wallet at any time.

11.2. Only You may use Your Terminal Equipment, SIM Card and MoMo PIN for carrying out transactions via the Service on Your Wallet.

11.3. You are responsible for the safe-keeping and proper use of Your Terminal Equipment, for keeping Your MoMo PIN and all transactions that take place on Your Wallet using Your MoMo PIN. Should You enter an incorrect PIN, after three invalid attempts, You will be locked out of the Service For security purposes. To restore access to Your Wallet, You can select the self-PIN rest options on the USSD menu, or You can visit the nearest Service Centre, or You can contact our customer support on 671 or 08031067100.

You acknowledge and accept that, as with any network, You may be exposed to:

12.1. unauthorised invasions of privacy during, or as a result of, using the Service;

12.2. system-threatening viruses and other unauthorised and invasive programs transmitted by third parties;

12.3. unauthorised dissemination and publication to others of information and material originally sent only to selected recipients on or through the platform;

12.4. eavesdropping and electronic trespassing; fraud and Forgery; and

12.5. the failure of information and data to reach their intended destinations and/or erroneous receipt or misdirection of such information. Although our privacy and security features are designed to reduce these risks, We cannot guarantee their elimination. MoMo PSB shall not be liable for any breach of confidence or loss arising as a result of such events.

You may upon payment of a prescribed fee request a statement printout From Us showing the transactions on Your Wallet within a specified period not later than one (1) year From the date of the request.

14.1. The address You supply on Your MoMo registration form is regarded as Your chosen address where notices may be given and documents may be served. You must notify Us immediately should Your physical, postal, email address or cell phone number or any other information supplied to Us changes.

14.2. We are entitled to send notices to an email address specified on Your application. This communication will be regarded as having been received by You, unless the contrary is proved. This clause pertains to all Customers.

14.3. Any correspondence that We send to You by post will be considered to have arrived within 7 (Seven) days of posting and any correspondence that We send to You by email will be considered to have arrived on the day that it was sent.

14.4. We are entitled to send information to You via SMS to the contact telephone number provided on Your application Form and as amended from time to time. These SMS' are for information purposes only.

14.5. All notices sent to Us should be addressed as follows:

The Chief Executive Officer MoMo Payment Service Bank 290B Akin Adesola Street Victoria Island Lagos State

15.1. MoMo PSB shall provide Customers with service support through any of the Following means:

15.1.1.Call centre on: Short dial 671 and long dial 08031067100

15.1.2.Email: info@momopsb.com

15.1.3.AII Service centres and Connect Stores

15.1.4.MoMo PSB Agents Outlets

16.1. You must lodge a complaint of a wrong transfer within 30 (thirty) days from the date of the incident. Careful investigation will be conducted to establish the claim as part of processing the reversal.

16.2. MoMo PSB will endeavour to effect reversals of any established/proven wrong transfer within 5 (five) working days but in any event not later than 15 (Fifteen) working days from the date on which the wrong transfer is confirmed.

16.3. Where the amount in question is fully available in the Wallet as the time of receiving the complaint, MoMo PSB shall hold the funds for furl-her investigations. Funds which have been partially withdrawn and no longer in Your Wallet cannot be held by Us.

16.4. In the event where the amount is not in the Wallet of the supposed wrong recipient, You would be advised accordingly.

16.5. MoMo PSB will take reasonable steps to contact the supposed wrong recipient, through calls and SMS, within 3 (three) working days of receiving a reversal request.

16.6. The wrong recipient must make reasonable efforts to respond to the calls and SMS during the 3 (three) days of contact.

16.7. MoMo PSB will endeavour to perform the reversal after the 3 (three) working days without any feedback from the wrong recipient.

16.8. MoMo PSB does not have any obligation to perform a reversal in the event of any dispute with a designated payee.

16.9. Transaction notification will be sent to both the sender and receiver upon completion of the reversal.

17.1. You consent to MoMo PSB making enquiries about Your credit record with any credit reference agency and any other party to confirm the details of this application.

17.2. A certificate or invoice signed by any of our managers (whose appointment need not be proved) showing the amount You owe Us is sufficient proof of the facts stated on the certificate, unless the contrary is proved.

17.3. You must pay all our expenses in recovering any amounts You owe Us including any legal fees so incurred.

17.4. You are responsible for Your connection to the internet and all costs associated with that same connection.

17.5. You must notify Us immediately of any change in Your details as contained in Your application.

17.6. You agree that Your information, including Your personal information, Your telephone conversations with our call centre and Your transactions will be recorded and stored for record keeping purposes for 7 (seven) years after the date of closure of the Wallet.

17.7. We are obliged by law to regularly update Your personal particulars, such as Your current residential address and contact information. We may contact You From time to time in this regard.

17.8. All copyright, trademarks and other intellectual properly rights used as part of our Services or contained on our documents are owned by MoMo PSB or its licensors. You agree that You acquire no rights thereto.

17.9. You accept that all transactions effected on Your Terminal Equipment are subject to other applicable Terms and Conditions as available on our website from time to time.

17.10. Your Wallet may be transferred to and used on any mobile telecommunications network operator.

18.1. Any abusive and/or fraudulent usage of the Wallet and any false declaration may be punished by the laws of the Federal Republic of Nigeria as applicable and may lead to the suspension or termination of the Wallet.

18.2. In the event of a stolen/missing SIM Card or Terminal Equipment, You must call the MoMo PSB Customer Service Centre on 671 or 08031067100 or visit the nearest Service Centre to make a report.

18.3. In the case of fraud on Your Wallet, You must subsequently provide a police extract as part of Your complaints to commence the necessary checks. Note that any lossincurred during this period will be a personal liability for which MoMo PSB shall not be responsible.

18.4. The Wallet owner will be responsible for all Fees and transactions effected up to the time of receipt by MoMo PSB of Your report of the damage, loss or theft of Your SIM Card in line with the provisions of this Clause 18.

18.5. You must comply with the instructions that MoMo PSB may issue from time to time about the use of the Service.

19.1. Customers shall submit their complaints via the channels provided in Clause 15 above For resolution. Where there is any stalemate, complaint is unresolved or a Customer is not satisfied with the feedback from MoMo PSB, the Customer shall refer the matter to the Consumer Protection Department (CPD) of the CBN within 2 (two) weeks of lodging of the complaint.

19.2. The CBN shall take up all referred unresolved complaints or disputed decisions by MoMo PSB and issue appropriate directives, where required.

MoMo PSB reserves the right to vary at any time and without prior notice to You these Conditions of Use. Variations will be notified by way of advertisement in a daily newspaper, SMS or through MoMo PSB website and or by using any other suitable means provided that You shall be deemed to have been notified of any such variations.

MoMo PSB will not be liable to You or any third party For any consequential, incidental, indirect, punitive or special damages (including, withouHimitation, damages relating to lost profits, lost data or loss of goodwill) arising out of, relating to or connected with the use of the Services.

You agree to indemniFy, defend and hold MoMo PSB and its employees, representatives, agents, attorneys, affiliates, directors, officers, members, managers and shareholders ("Indemnified Parties") harmless from any damage, loss, cost or expense (including without limitation, attorneys' fees and costs) incurred in connection with any third party claim, demand or action ("Claim") brought or asserted against any of the Indemnified Parties: (i) alleging Facts or circumstances that would constitute a breach by You of any provision of these Ts&Cs or (ii) arising from, related to, or connected with Your use of the Services.

By using the MoMo PSB Services, You represent and warrant that:

23.1. All registration information You submit shall be true, accurate, current, and complete.

23.2. You will maintain the accuracy of such information and promptly update such registration information, as necessary.

23.3. You have the legal capacity, and You agree to comply with these Terms and Conditions.

23.4. You are not a minor or have satisfied the conditions of same in Clause 6 above.

23.5. You will not access any of the MoMo Services through automated or non-human means, whether through a bot, script or otherwise.

23.6. You will not use the MoMo PSB service for any illegal or unauthorised purpose.

23.7. Your use of the MoMo PSB service will not violate any applicable law or regulation.

23.8. IF You provide any information that is untrue, inaccurate, not current, or incomplete,We have the right to suspend or terminate Your Wallet and refuse all current or future use of the Service.

24.1. These terms and conditions of use of the Service and all matters of disputes arising there from or incidental thereto shall be governed in accordance with the Laws of the Federal Republic of Nigeria.

24.2. Where there is a dispute between the provisions of these laws and any regulation of the CBN, the CBN regulations shall prevail.