Terms of Service.

Welcome to the SFCL Digital Platform (the "Platform", "SFCL"), operated by SohCahToa Finance Company Limited (SFCL), ("SFCL", "we", "us", or "our"), a duly licensed finance house regulated by the Central Bank of Nigeria. These Terms of Service ("Terms") govern your access to and use of the SFCL mobile application, web application, and related digital services.

By choosing to open an account with us, and accessing or using the Platform you agree to be bound by these terms of service as well as our Privacy Policy and Cookies Policy. If you do not agree to these terms and conditions, you must not use the Platform.

To access SFCL's services, you must:

• Be at least 18 years of age (or the legal age of majority in your jurisdiction)
• Be a Nigerian citizen, legal resident, or a duly registered Nigerian business entity
• Possess a valid Bank Verification Number (BVN)
• Have a valid government-issued form of identification
• Maintain an active Nigerian bank account in your name
• Provide complete, accurate, and truthful information during onboarding

By using our Platform, you confirm you meet these requirements. SFCL reserves the right to verify eligibility at any time and may suspend or terminate access where eligibility is not met or withdrawn.

3.1 Account Creation

To access our services, you must register and complete our Know Your Customer (KYC) process. Accounts are tiered based on verification level:

3.2 Account Security

• You are responsible for safeguarding your login credentials and PIN.
• Do not share account access with unauthorised third parties.
• Notify SFCL immediately of any suspected unauthorised access.

3.3 Account Information

You must keep your personal and contact information up to date. SFCL is not liable for service disruptions arising from outdated or incorrect information.

3.4 Cancellation/Inactivity Issues

Accounts with no activity for 12 consecutive months may be flagged as dormant and may be subject to restrictions or closure in line with CBN dormant account guidelines.

SFCL provides the following categories of financial services:

Loans:

• SME Working Capital Loans
• Invoice Discounting
• LPO Financing
• Orange Alternative Energy Financing
• Distributor Finance
• Personal/Payday Loans
• Public Sector Loans
• Group Loans (Corporate)
• Back2School Loans
• Travel Ease

Savings & Investments:

• Save Wise
• Fixed Deposit
• Save My Rent
• Kiddies Piggy Save

All Services are subject to applicable eligibility criteria, credit assessment, and regulatory approval. SFCL reserves the right to modify, suspend, or discontinue any Service at any time with reasonable notice.

5.1 Authorisation

By initiating a transaction, you authorise SFCL to process the instruction. Authorisation is binding once confirmed and may not be reversed except as permitted under applicable law or our policies.

5.2 Transaction Limits

Transaction limits apply in accordance with your account tier, as required by the CBN. Higher-tier accounts benefit from expanded limits following full KYC verification.

5.3 Processing Time

Transactions are typically processed within 24 business hours. Delays may occur due to system issues, third-party banking constraints, or public holidays.

5.4 Immutability

• Repayment transactions and savings lock-ins are non-reversible once confirmed.
• Penalties apply for failed direct debit mandates or dishonoured payments.

• No hidden fees. All applicable charges are disclosed at the point of transaction.
• Loan interest, processing fees, and penalty charges are stated in individual loan agreements.
• Investment fees (where applicable) are clearly outlined in product schedules.

SFCL reserves the right to revise its fee schedule. Changes will be communicated to customers at least 30 days prior to implementation.

7.1 Savings & Fixed Deposits

• Interest is calculated based on the agreed tenor and rate at the time of investment.
• Early withdrawal or termination may attract penalties as specified in the product terms.

7.2 Investment Products

• All investment products carry market risk.
• Returns are not guaranteed beyond the stated product rates.
• SFCL is not liable for losses arising from changes in market conditions.

7.3 Loan Products

• By accepting a loan, you agree to repay principal and interest as per the agreed schedule.
• Provide truthful and complete information during loan application.
• Notify SFCL promptly of any material changes in financial circumstances.
• Default will attract penalty charges and may be reported to credit bureaus.

7.4 Interest Rates

Interest rates are disclosed at the time of product activation. Loan interest is calculated on a flat or reducing balance basis as stipulated in individual facility letters.

As a customer of SFCL, you agree to:

• Provide accurate, complete, and up-to-date information at all times.
• Use our Platform and Services exclusively for lawful purposes.
• Not engage in fraud, impersonation, money laundering, or terrorist financing.
• Not circumvent, disable, or interfere with our security measures.
• Report suspected unauthorised account access immediately.
• Comply with all applicable laws, CBN regulations, and anti-money laundering (AML) requirements.
• Maintain sufficient funds in linked accounts for scheduled repayments or savings contributions.

SFCL operates in full compliance with applicable regulations, including:

• The Banks and Other Financial Institutions Act (BOFIA) 2020
• CBN Regulatory Framework for Finance Companies in Nigeria
• Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) Regulations
• The Nigeria Data Protection Act (NDPA) 2023

By applying for our services, you consent to credit checks, identity verification, and data sharing with regulatory authorities as required by law. Any false or misleading information provided is an offence and may result in service denial, termination, and/or legal proceedings.

Your personal data is processed in accordance with our Privacy Policy. By using our services, you consent to the collection, use, and storage of your personal data as described therein.

• We do not sell or rent personal data to third parties.
• Data sharing occurs only with authorised entities (regulators, credit bureaus, service providers).
• You have rights under the NDPA 2023, including access, correction, and deletion of your data.
• SFCL maintains strict data security and confidentiality practices.

SFCL strives to ensure our Platform is available at all times. However:

• We do not guarantee uninterrupted or error-free access to the Platform.
• Scheduled maintenance or upgrades may temporarily affect service availability.
• You will be notified of planned downtime where reasonably practicable.
• SFCL is not liable for losses arising from system downtime, technical failures, or interruptions caused by third parties.

To the fullest extent permitted by applicable law, SFCL shall not be liable for:

• Indirect, incidental, or consequential loss or damage.
• Loss of data, business, revenue, or goodwill.
• Losses arising from your reliance on information provided on the Platform.
• Actions of third-party service providers or external systems.
• Losses due to system unavailability, cyber-attacks, or force majeure events.

Our aggregate liability to you shall not exceed the amount of fees paid to SFCL in the 12 months preceding the claim.

You agree to indemnify, defend, and hold SFCL, its directors, officers, employees, and agents harmless from any claims, damages, losses, liabilities, or expenses (including legal costs) arising from:

• Your breach of these Terms.
• Fraudulent, unlawful, or unauthorised use of your account.
• Your violation of any third-party rights or applicable law.

SFCL may suspend or terminate your account under circumstances including but not limited to:

• Breach of these Terms or product-specific agreements
• Fraudulent, suspicious, or illegal activity
• Non-repayment of outstanding loan obligations
• Court orders or regulatory directives
• Request by law enforcement agencies

You may also voluntarily close your account by submitting a formal request. All outstanding obligations must be settled prior to closure. Termination does not waive any rights or obligations arising before the effective date.

All content, trademarks, logos, software, and intellectual property on the Platform are owned by or licensed to SFCL. You may not:

• Reproduce, modify, or distribute our content without written consent.
• Use our brand assets or trademarks without authorisation.
• Reverse-engineer or attempt to access the source code of our Platform.

SFCL reserves the right to amend these Terms at any time. Amendments will be effective upon posting on our website or notification via email/SMS. Continued use of our services after notice of amendments constitutes your acceptance.

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute, claim, or controversy arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Nigeria.

Prior to commencing legal proceedings, parties agree to attempt resolution through good-faith negotiation for a period of 30 days.

SFCL may engage third-party service providers (payment processors, technology vendors, credit bureaus) to deliver aspects of our services. These providers operate under their own terms and privacy policies. SFCL is not responsible for the actions, failures, or data practices of third parties beyond our reasonable control.

For queries regarding these Terms or our services, please contact us: