KoboGo Loan Terms of Service

Date: 18th May 2023; version: 1.0Please read these terms carefully

The following Terms of Service (collectively, the "Terms") apply to the KoboGo Loan and constitute a legal agreement between you and KoboGo (also "us", "our" or "we"). By registering for an Account (defined hereunder), applying for and obtaining a Loan (defined hereunder) or otherwise using any of the Services provided by us (including clicking to ‘accept’ or ‘agree’ to the Terms when this option is made available to you via the Website or the App), you acknowledge and agree to have read, understood and accepted these Terms and any future amendments and additions to these Terms as published by KoboGo from time to time. These Terms include our Privacy Policy, which is incorporated herein by reference.

If you do not understand or agree to be bound by these Terms, do not apply for, accept, access or otherwise use the Services.


1. You are only eligible for a Loan from KoboGo upon your registration on the App or on our Website in line with these Terms.

2. To make use of the Service, you must:

  1. Be a person of a minimum of eighteen (18) years of age with the full legal capacity to enter into a contract;
  2. create an Account on the App or our Website.

3. By accessing the Service, you represent and warrant that you meet these eligibility requirements.


2.1. Upon creating your Account, you may apply to us to grant you a Loan in accordance with these Terms.

2.2. Both the App and our Website allow you to apply for a Loan electronically. The decision to approve or reject your application for a Loan is at the sole discretion of KoboGo.

2.3. KoboGo reserves the right to obtain necessary information from relevant third parties regarding your employment details, salary payment history, loans, and other related data. This information will be used solely for the purpose of assessing and making a decision on your loan application.

2.4. KoboGo further reserves the right to request additional information or documentation from you or any applicable third party to assess your eligibility for a Loan.

2.5. KoboGo reserves the right to approve or reject the loan application without providing any reasons.

2.6. Where we approve your application, the amount of the Loan granted to you shall be paid into the bank account that you provide for that purpose.

2.7. You acknowledge and agree that providing any false or misleading information may result in the rejection of your loan application and may have legal consequences.


3.1. The amount of the Loan, Loan Period, interest rate, repayment terms, and other relevant details will be provided by KoboGo upon approval of the loan application.

3.2. You agree to repay the loan according to the agreed-upon terms, including the principal amount, interest, and any applicable fees.


4.1. The interest payable by you to us in relation to any Loan shall be displayed by us on the App. Meanwhile, we shall be entitled to set and charge Transaction Fees, in connection with your use of the Service and from time to time amend or vary our Transaction Fees for the Service. If we decide to start charging Transaction Fees or, where already applicable, vary or amend our Transaction Fees, the Transaction Fees payable on any new application for Service will be displayed on the App. We will use reasonable endeavours to notify you of any changes in relation to Transaction Fees within a reasonable period before such changes are implemented including displaying notices of the changes on the App

4.2. You agree to repay the Loan and the interest thereon on the Due Date.

4.3. After the Loan Period, KoboGo reserves the right to continue charging interest for the duration of the Rollover Period.

4.4. In addition to the interest, during the Rollover Period, an additional Rollover Fee will be applied.

4.5. You are responsible for paying all applicable interest and fees as per the agreed-upon terms.

4.6. KoboGo reserves the right to revise at any time the interest rate or fees upon providing you with reasonable notice.


You hereby confirm and commit to Us that

5.1. You have full power and authority to enter into and be legally bound by these Terms and to perform Your obligations under these Terms;

5.2. You shall comply at all times with all Applicable Law and these Terms, and will notify Us if You are in breach of any Applicable Law or these Terms;

5.3. You shall only use the Service for lawful purposes and only for the purposes for which it is intended to be used;

5.4. You shall ensure that any documents, personal information and Credentials provided by you (or on your behalf) to Us or otherwise via the Service are at all times accurate, current, complete and not misleading;

5.5. You shall only use an internet access point and Account which You are authorised to use;

5.6. You shall not engage in any fraudulent, deceptive or misleading conduct; and

5.7. You shall not impair or circumvent the proper operation of the network which the Service operates on.


6.1. You expressly request, instruct, and authorize us to debit the amount due, including the Loan, Interest, Rollover Fee, or any other applicable fees, from any of the bank accounts (or mobile wallets) associated with your bank verification number ("BVN") in the event that you do not repay the Loan, interest or applicable fees on the Due Date. This authorization extends to any direct debit instruction issued and delivered to you by KoboGo.

6.2. All debits made by KoboGo from your bank accounts in accordance with this direct debit instruction shall be considered as if personally signed and authorized by you. You acknowledge and agree that these authorized withdrawals will be processed through electronic funds transfer, and each withdrawal will be reflected on your bank statement.

6.3. Please note that you are responsible for any bank charges associated with this authorization, and you agree to pay such charges.


7.1. By using the App or the Website, you consent to the collection, use, and disclosure of your personal information in accordance with our Privacy Policy. Such personal information includes name identifiers, birth date, gender, zip code information, BVN, national identity number (NIN), international passport number, and other information relating to the past, present, or future provision of the Services that identifies or can be used to identify an individual.

7.2. KoboGo will handle your personal information in compliance with applicable data protection laws.

7.3. KoboGo may use your personal information for the purposes of assessing your eligibility for the loan, verifying your identity, and managing the loan.

7.4. You acknowledged and agree that KoboGo may, in the ordinary course of providing you the Services, shared your personal information with its affiliates and partners.

7.5. You understand and agree that your consent declaration will remain valid indefinitely for all existing and future personal and verification requests, screening, validation and confirmation of your information.


8.1. You agree to provide true, accurate, current, and complete information in connection with your access to and use of the Services. You shall maintain and promptly update this information to keep it true, accurate, current, and complete. If you provide any information that is fraudulent, untrue, inaccurate, incomplete, or not current, or we have reasonable grounds to suspect that such information is fraudulent, untrue, inaccurate, incomplete, or not current, we reserve the right to refuse, and to terminate, any and all current and future use of the Services without notice.

8.2. You shall maintain the confidentiality of the details of your Account and accordingly restrict access to same. You are responsible for all activities that occur through your Account, even if not authorized by you.

8.3. You must immediately notify KoboGo of any breach of security or unauthorized use of your Account provided that KoboGo nor its affiliate shall be obligated to investigate or resolve any such breach of security or unauthorized use.


You understand, acknowledge and agree that your consent is or may be necessary to facilitate the loan application and repayment process, and you agree to cooperate fully with KoboGo in providing any additional information or documentation (including procuring and executing new ones) as may be required for this purpose.


10.1. The App and the Website and their content are protected by intellectual property laws and are the property of KoboGo or its licensors.

10.2. You may not copy, modify, distribute, or use any part of the App without KoboGo’s prior written consent.

10.3. You are expressly prohibited from engaging in any unauthorized actions with regard to the App. This includes, but is not limited to, copying, decompiling, reverse engineering, disassembling, attempting to derive the source code, modifying, or creating derivative works of the App. Please note that these restrictions shall apply, except to the extent that any of these actions are expressly permitted by applicable law or to the limited extent allowed by the licensing terms that govern the use of any open-sourced components included within the KoboGo. It is important to adhere to these restrictions and comply with all applicable laws and licensing terms to ensure proper use of the App.


11.1. We, along with our affiliated entities, have implemented stringent policies ("Policies") to combat money laundering, terrorism financing, and business transactions with entities/individuals located in territories subject to trade sanctions, or individuals subject to such sanctions.

11.2. Without prejudice to other prohibitions or limitations as may be applicable, you are strictly prohibited from using the App or Website in the following ways:

  • (a) Engaging in any unlawful purpose;
  • (b) Soliciting others to perform or participate in unlawful acts;
  • (c) Violating international, federal, provincial, or state regulations, rules, laws, or local ordinances;
  • (d) Infringing upon our intellectual property rights or the intellectual property rights of others;
  • (e) Harassing, abusing, insulting, harming, defaming, slandering, disparaging, intimidating, or discriminating based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability;
  • (f) Submitting false or misleading information;
  • (g) Uploading or transmitting viruses or any other type of malicious code that may affect the functionality or operation of the Service, related websites, or the Internet;
  • (h) Collecting or tracking the personal information of others;
  • (i) Engaging in spamming, phishing, pharming, pretexting, spidering, crawling, or scraping;
  • (j) Using the App or our Website for any obscene or immoral purpose;
  • (k) Interfering with or circumventing the security features of the Service, related websites, or the Internet;
  • (l) Infringing upon or violating any laws, including but not limited to acts of fraud, money laundering, bribery, corruption, and using loaned amounts for illegal and illicit purposes; etc.

11.3. Furthermore, you acknowledge that any amounts paid to us by you shall not be proceeds from illegal activities. In the event that we have reasonable grounds to believe or suspect that you are using the Service for illegal or illicit purposes, or if you violate our Policies, we reserve the right to immediately terminate your access to the Services. We also reserve the right to report your conduct to the relevant legal authorities for investigation and possible prosecution.

11.4. It is essential to adhere to these Terms and refrain from engaging in any prohibited activities. By using the Service, you agree to comply with these policies and understand the consequences of non-compliance, including termination of access to the Services and potential legal action.


You confirm that you have sought and obtained independent legal advice before agreeing to these Terms. You acknowledge and agree that you have had sufficient time and opportunity to consider, and you fully understand the implications and consequences of agreeing to these Terms. By accessing the Services, you hereby waive any claim against us arising from your failure to seek or obtain legal advice.


13.1. The App (and, in extension, the Services) is provided on an "as is" basis, and KoboGo makes no representations or warranties regarding its accuracy, reliability, suitability for your specific needs, or non-infringement.

13.2. KoboGo shall not be liable for any direct, indirect, incidental, consequential, or punitive damages arising from the use of the App, our Website or the Services provided. IF YOU ARE DISSATISFIED WITH ANY PART OF THE SERVICE, OR WITH THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICE.

13.3. KoboGo does not guarantee the availability, accuracy, or reliability of any information provided through the App or our Website.


14.1. You agree to indemnify and hold harmless KoboGo, its affiliates, directors, officers, employees, and agents from any claims, losses, damages, liabilities, costs, or expenses (including reasonable attorney's fees) arising out of or in connection with your use of the Services, any breach of these Terms, or any violation of applicable laws or regulations.

14.2. This indemnification provision shall survive the termination or expiration of these Terms.


15.1. KoboGo reserves the right to modify or terminate the Services or these Terms at any time without prior notice.

15.2. Any modifications to these Terms will be effective immediately upon posting on the App, on the Website or notifying you through other means.

15.3. You agree to review these terms and conditions periodically to stay informed of any changes.

15.4. Your continued use of the App or the Website (and, in extension, the Services) after any modifications of these Terms signifies your acceptance of such modified Terms.

15.5. You agree that KoboGo shall not be liable to you or any third party for any modifications or termination of the Services.


16.1. We may terminate your Account, or any payment service associated with it by giving you prior notice of twenty-one (21) days in the event of breach of any of the terms set out in this document.

16.2. You may terminate your Account with us at any time.

16.3. Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.

16.4. We may at any time suspend or terminate your Account in case you breach any condition of these Terms or any other condition applicable to specific services covered by separate terms and conditions. A notice of twenty-one (21) days shall be provided in case of such an eventuality you violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of our services. We have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.

16.5. We may suspend your Account at any time if:

  • 16.5.1. We reasonably believe that your Account has been compromised or for other security reasons.
  • 16.5.2. We reasonably suspect your 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 so notify you.

16.6. 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.

16.7. We can terminate your Account by sending written notice to the address on your application. If there is no debit or credit on this Account for twelve (12) consecutive months, we may terminate this Account without notice to you.

16.8. When termination arises as a result of default, you will not be able to apply for credit in future.


KoboGo shall not be liable for any failure or delay in the performance of its obligations under these terms and conditions if such failure or delay is due to events beyond its reasonable control, including but not limited to acts of God, natural disasters, war, or governmental actions.


18.1. These Terms constitute the entire agreement between you and us regarding your use of the Services and supersede any prior agreements or understandings, whether written or oral, relating to the subject matter herein.

18.2. KoboGo’s failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision unless acknowledged and agreed to in writing.

18.3. You may not assign or transfer any rights or obligations under these Terms without KoboGo’s prior written consent. KoboGo may freely assign or transfer its rights and obligations under these terms.

18.4. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. The invalid or unenforceable provision shall be replaced with a valid and enforceable provision that most closely reflects the intent of the original provision.

18.5. Any waiver, modification, or amendment of any of the provisions of these Terms must be in writing and signed by both parties.

18.6. These Terms do not create any rights or benefits for third parties unless expressly stated otherwise.


These Terms shall be governed by and construed in accordance with the laws of Nigeria. Any disputes arising out of or in connection with these Terms that have not been resolved through mutual agreement between the Parties within fourteen (14) days, shall be subject to the exclusive jurisdiction of the courts of Nigeria.


For any inquiries or concerns regarding these Terms or the Services, please contact us using the contact information provided within the App or on our Website or by email at kobogo.nigeria@gmail.com.


In these Terms, the following words and expressions bear the following meaning:

“Account” means the personal virtual account created and maintained by you on the App or our Website.

“App” means a digital app that is owned or operated by KoboGo or any of its affiliates and partners which facilitates the operation of your Account and the provision of the Services.

“Applicable Law” means all applicable laws, by-laws, enactments, regulations, regulatory policies, ordinances, protocols, industry codes, road traffic codes, regulatory permits, regulatory licenses or requirements of any court, tribunal or governmental, statutory, regulatory, judicial, administrative or supervisory authority or body, which are in force from time to time during the term of these Terms.

“Credentials” means your personal credentials used to access the App/the Service and operate your Account.

“Due Date” means the date specified by KoboGo as the date for the final repayment of the Loan at the time of granting you the Loan.

“KoboGo”: means KoboGo Nigeria Limited and / or its affiliates, officers, directors, and employees that offers you the Services contemplated under these Terms in the name and for the benefit of KoboGo.

“Loan” means the principal amount granted to you by us upon your application on the App or the Website from time to time or (as the context requires) the principal amount outstanding for the time being of that loan;

“Loan Period” means the initial term of the Loan as indicated in the App and/or Website.

“Rollover Fee” means the default fee that shall apply on the Loan and Interest during the Rollover Period.

“Rollover Period” means such amount of time after the Loan Period that the Loan or the Interest thereon remains unpaid.

“Service” means the services (including the granting of loans) provided by us on the App or our Website.

“Transaction Fees” includes any fees and charges payable for the use of the Service as published by Us on in the App or by such other means as We shall in Our sole discretion determine. Transaction Fees are subject to change at any time at Our sole discretion

“Website” means our world wide web platform available at: www.kobogo.ng or any future iterations thereof.

“You” means you, as a borrower or user of the Service (through the App or our Website), and all similar words herein referring to or in connection with you shall be construed accordingly.

By using the Services, you acknowledge that you have read, understood, and agreed to these Terms. These Terms create a legally binding agreement between you and KoboGo. If you do not agree with any part of these Terms, please refrain from accessing or using the Services.