Effective Date: 5th January 2024
Rapid Moni Point Limited (“we,” “our,” or “us”) is committed to protecting your privacy and the security of your personal data. This Privacy Policy outlines how we collect, use, share, and protect your personal data in compliance with the Nigeria Data Protection Act 2023 and the NDPR.
1. Information We Collect
We collect the following categories of personal data:
a. Personal Information You Provide Directly:
Full name, address, phone number, and email
Bank Verification Number (BVN), National Identification Number (NIN), or other ID numbers
Financial account details, including bank account numbers
Login information (e.g., username, password, PINs)
b. Automatically Collected Data:
Device type, IP address, browser type
Location data
Usage patterns and interaction data through cookies or analytics tools
2. Purpose of Data Collection
We collect and process your personal data for the following lawful purposes:
To provide and maintain financial services and customer accounts
To verify your identity and perform Know-Your-Customer (KYC) checks
To carry out transactions securely
To comply with regulatory obligations (e.g., CBN, NDPC, EFCC)
For communication and customer support
To detect and prevent fraud and security threats
To improve our services and user experience.
3. Lawful Basis for Processing
We process your personal data under the following legal bases:
Your consent
Necessity for the performance of a contract
Legal obligation under applicable Nigerian laws
Legitimate interests, provided they do not override your fundamental rights.
4. Disclosure of Your Information
We may share your data with:
Regulatory agencies such as CBN, NDPC, NFIU, or EFCC
Third-party service providers (e.g., cloud providers, payment gateways)
Auditors, consultants, or other professional advisers
In case of a merger or acquisition, potential investors or acquiring entities
We do not sell your personal data.
5. Data Protection and Security
We apply strict security measures to protect your data, including:
Encryption
Two-factor authentication (2FA)
Role-based access controls
Regular audits and monitoring
While we strive to use industry-standard security, no method is 100% secure.
6. Your Rights Under Nigerian Law
You have the right to:
Request access to the personal data we hold about you
Correct or update inaccurate data
Withdraw consent at any time
Request deletion or restriction of your data
Object to processing where applicable
Lodge a complaint with the Nigeria Data Protection Commission (NDPC)
To exercise your rights, email us at Info@rapidmonipoint.ng
7. Data Retention
We retain your personal data only as long as necessary for the purposes stated or as required by law (e.g., anti-money laundering regulations, tax laws).
8. Cookies and Tracking
We use cookies and similar technologies to:
Enhance functionality
Analyze usage patterns
Remember user preferences
You can manage cookies through your browser settings.
9. Cross-Border Data Transfers
Where your data needs to be transferred outside Nigeria, we ensure appropriate safeguards are in place in accordance with the NDPA and international best practices.
10. Children’s Privacy
Our services are not intended for users under the age of 18. We do not knowingly collect data from children.
11. Changes to This Privacy Policy
We may update this policy from time to time. We will notify you of significant changes via email or prominently on our website.
12. Contact Information
For any questions, concerns, or data access requests, contact:
Rapid Moni Limited
17A Adefolu Drive, off Allen Avenue, Ikeja, Lagos.
Email: Info@rapidmonipoint.ng
Phone: +2348141288012