Please read the Terms & Conditions carefully.

[A] Bosom Multipurpose Cooperative Society Limited (“we” or “us”) takes your privacy seriously. This privacy policy explains why we collect data, what data we collect, how we store and transfer that data as well as who we may share the data with. You specifically authorize us to collect and process data in accordance with this privacy policy.

[B] Why we collect data. We collect certain data to be able to provide the Service to you. We also collect data for use in verifying your identity and creating credit scoring models to determine what Loans can be offered to you. We also use this data for purposes of collections and credit reporting.

[C] The data we collect. When you register to become a member, we will collect your telephone number and may also collect your name, age, email address or other contact information. With this information, we may cross-check your identity with third parties including the person you have provided as your emergency contact. By registering for the Service, you authorize the collection and processing of the foregoing data.

Who we share data with

[D] We may share your data with third parties in certain circumstances. We may, for example, share data with: I. Your emergency contact; II. Your Next of Kin; III. Your guarantors, in seeking Loans IV. Government bodies and law enforcement agencies, to comply with the law; professional advisers, to enforce or defend our legal rights; or to the Registrar.

We are not liable for any damages you may incur. IN NO EVENT WILL WE OR OUR MEMBERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA, OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE, WITH THE DELAY OR INABILITY TO USE THE SERVICE, THE PROVISION OF OR FAILURE TO PROVIDE SERVICE, OR FOR ANY LOAN OBTAINED THROUGH THE SERVICE, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, EVEN IF WEBSITE OR ANY OF ITS SUPPLIERS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

This contract is subject to, and shall be governed by, and construed in accordance with the Cooperative Societies Laws Cap.35 of the laws of Oyo State of Nigeria 2000, without reference to the principles of conflict of laws thereof. Any matters arising concerning the interpretation, validity or implementation of this Agreement not solved by mutual agreement between the Parties shall be submitted to arbitration in the English language before a Registrar to take place in Ibadan, Nigeria as the seat of the arbitration. The arbitration shall be conducted pursuant to the Rules of Arbitration of the Cooperative Societies of Oyo State, Nigeria. Nothing in this Agreement will be deemed as preventing The Bosom Multipurpose Cooperative Society Limited from seeking injunctive relief (or any other provisional remedy) from any court having jurisdiction over the Parties and the subject matter of the dispute as is necessary to protect The Bosom Multipurpose Cooperative Society’s name, proprietary information, trade secrets, know-how, or any other intellectual property rights.

Membership

A person becomes a member of The Bosom Multipurpose Cooperative Society by registering online and making the initial nonrefundable entrance fee of N25,000 and must be 18 years or above.

Monthly Savings

A desired level of compulsory monthly savings ranging from N10,000 or above by payment of transfer of any kind either manually or electronically into the bank account of the cooperative.

Share Capital

Minimum Share Capital of N60,000 that can be paid within six months by payment of transfer of any kind either manually or electronically into the bank account of the cooperative.