Legal Framework
Effective Date: 1st April, 2025 | Last Updated: 10th April, 2026
Welcome to Pentecost Microfinance Bank Limited (“the Bank”, “we”, “us”, “our”). These Terms and Conditions (“Terms”) govern your access to and use of our website (www.pentecostmfb.com.ng), mobile banking application, and any related digital services (collectively, the “Platform”). By using our Platform, opening an account, or accessing any of our digital banking services, you agree to be bound by these Terms, our Privacy Policy, and any additional policies referenced herein. If you do not agree, please discontinue use immediately.
By registering, accessing, or using the Pentecost Microfinance Bank website or mobile app, you confirm that you have read, understood, and accepted these Terms in full. These Terms apply to all users, including customers, visitors, and third parties interacting with our digital platforms. The Bank reserves the right to modify these Terms at any time without prior individual notice. Changes become effective immediately upon posting on the Platform. Your continued use after modifications constitutes acceptance. It is your responsibility to review these Terms periodically.
To use our digital banking services, you must be at least 18 years old and legally capable of entering into binding contracts under Nigerian law. You agree to provide accurate, current, and complete information during registration and to update such information promptly. The Bank reserves the right to refuse service, terminate accounts, or suspend access if information is found to be false, misleading, or incomplete. Each customer is responsible for maintaining the confidentiality of login credentials (including passwords, PINs, and OTPs) and for all activities that occur under their account.
Our mobile banking application and website provide functionalities including but not limited to: balance inquiries, funds transfer, bill payments, airtime purchase, loan applications, account statement viewing, and transaction history. You agree to use these services solely for lawful purposes and in compliance with the Central Bank of Nigeria (CBN) guidelines, Nigeria Deposit Insurance Corporation (NDIC) rules, and other applicable financial regulations. You shall not use the Platform for any fraudulent, illegal, or unauthorized purpose, including money laundering or terrorist financing. The Bank employs industry-standard encryption and security protocols, but you acknowledge that no internet or mobile transmission is 100% secure. You agree to immediately notify the Bank of any unauthorized access or security breach.
Pentecost Microfinance Bank is committed to protecting the privacy and confidentiality of your personal information. This Privacy Policy explains how we collect, use, disclose, and safeguard your data when you interact with our website or mobile application.
We collect information that you voluntarily provide to us when you register for an account, apply for a loan, complete transactions, contact customer support, or participate in surveys. This may include: full name, BVN, NIN, address, phone number, email address, date of birth, government-issued ID, employment details, financial information (income, bank account numbers), transaction history, and biometric data (where required for KYC). Additionally, when you access our website or mobile app, we automatically collect certain technical data: IP address, device type, operating system, unique device identifiers, mobile network information, geolocation (with consent), browsing actions, and usage patterns via cookies and similar tracking technologies.
We use collected information to: (i) process transactions and provide banking services; (ii) verify your identity and comply with KYC/AML regulations; (iii) improve, personalize, and secure our digital platforms; (iv) communicate transaction alerts, service updates, and promotional offers (with opt-out option); (v) detect and prevent fraud, cyber threats, and unauthorized access; (vi) conduct credit assessments and risk analysis; (vii) comply with legal obligations, court orders, or regulatory requests from the CBN, NFIU, or other government agencies.
We do not sell, rent, or trade your personal information. However, we may share data with: (i) third-party service providers (payment processors, IT infrastructure, cloud storage) under strict confidentiality agreements; (ii) correspondent banks and financial partners for inter-bank transfers; (iii) credit bureaus and regulatory authorities as required by law; (iv) law enforcement when compelled by subpoena or legal process. In the event of a merger, acquisition, or asset sale, your data may be transferred, and you will be notified via prominent notice on our Platform.
We retain personal data for as long as necessary to fulfill the purposes outlined in this Privacy Policy, or as required by Nigerian banking regulations (typically minimum of 7 years after account closure). We implement robust security measures including encryption (TLS 1.3), firewalls, multi-factor authentication, regular security audits, and role-based access controls. However, you acknowledge that no electronic storage method is 100% secure. In the event of a data breach affecting your information, we will notify you and relevant authorities within 72 hours as required by the NDPR (Nigeria Data Protection Regulation).
You have the right to: (i) access, correct, or delete your personal data (subject to legal retention); (ii) withdraw consent for marketing communications; (iii) request restriction of processing under certain circumstances; (iv) lodge a complaint with the Nigeria Data Protection Commission (NDPC). To exercise these rights, contact our Data Protection Officer at dpo@pentecostmfb.com.ng. We will respond within 30 days.
Our website and mobile app use cookies, session tokens, and analytics tools (e.g., Google Analytics) to enhance user experience, remember preferences, and gather aggregate performance metrics. You may disable cookies via browser settings, but this may affect some website features. Mobile app permissions (camera, location, storage) are only used with explicit consent and can be managed in device settings.
All transactions conducted through the website or mobile app are electronic records. You agree that confirmations, receipts, and statements provided digitally are valid evidence of transactions. The Bank will process fund transfers only after authentication using your secure credentials (PIN, password, biometric, or OTP). Transaction limits apply as per CBN guidelines and your account tier. The Bank shall not be liable for losses resulting from unauthorized transactions if you failed to safeguard your credentials or notify us promptly. Chargebacks, reversals, or disputes must be reported within 3 business days of transaction date. For failed transactions (e.g., debit without credit), we will investigate and resolve within 7 business days.
Our digital platforms allow you to apply for microloans, salary advances, and SME loans. By submitting a loan application, you authorize the Bank to perform credit checks using your BVN, credit bureau reports, and transaction history. Loan approvals are at the Bank’s sole discretion and subject to interest rates, fees, and repayment terms as disclosed in the loan offer. You agree to repay all borrowed amounts plus applicable interest via electronic deduction from your designated account or standing order. Late repayment may attract penalties and negative credit reporting. Default may result in legal recovery actions.
All content on the website and mobile app, including text, graphics, logos, button icons, images, software, and the “Pentecost Microfinance Bank” trademark, are the exclusive property of the Bank or its licensors. You may not reproduce, distribute, modify, create derivative works, publicly display, or reverse-engineer any part of the Platform without prior written consent. Unauthorized use may result in civil and criminal penalties.
You agree not to: (a) use the Platform for any illegal or fraudulent purpose; (b) attempt to gain unauthorized access to any account, system, or network; (c) introduce malware, viruses, or harmful code; (d) scrape or harvest user data; (e) impersonate another person; (f) interfere with the proper functioning of the website or app; (g) use the Platform to violate any applicable laws, including anti-money laundering regulations. Violation may lead to immediate termination of access, reporting to law enforcement, and legal action.
THE PLATFORM AND SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. TO THE FULLEST EXTENT PERMITTED BY LAW, PENTECOST MICROFINANCE BANK DISCLAIMS ALL WARRANTIES, INCLUDING MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. WE DO NOT WARRANT THAT THE WEBSITE OR MOBILE APP WILL BE UNINTERRUPTED, ERROR-FREE, SECURE, OR FREE FROM VIRUSES. IN NO EVENT SHALL THE BANK, ITS DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES ARISING FROM YOUR USE OF THE PLATFORM, INCLUDING LOSS OF PROFITS, DATA, OR GOODWILL, EVEN IF ADVISED OF THE POSSIBILITY. OUR TOTAL LIABILITY SHALL NOT EXCEED THE AMOUNT OF FEES PAID BY YOU TO THE BANK IN THE THREE (3) MONTHS PRECEDING THE CLAIM. NOTHING IN THIS CLAUSE EXCLUDES LIABILITY FOR FRAUD, DEATH, OR PERSONAL INJURY CAUSED BY NEGLIGENCE.
You agree to indemnify, defend, and hold harmless Pentecost Microfinance Bank, its affiliates, officers, employees, and agents from any claims, liabilities, damages, losses, and expenses (including legal fees) arising out of or related to: (i) your breach of these Terms; (ii) your misuse of the Platform; (iii) violation of any law or third-party rights; (iv) any unauthorized transaction using your credentials.
The Bank may suspend or terminate your access to the website or mobile app, with or without notice, for any reason including violation of these Terms, suspicious activity, regulatory directive, or account closure. Upon termination, you must cease using the Platform, and the Bank may deactivate your credentials. Sections regarding intellectual property, limitation of liability, indemnification, and privacy shall survive termination.
These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or relating to these Terms or your use of the Platform shall first be attempted to be resolved through good-faith negotiations. If unresolved within 30 days, the dispute shall be submitted to arbitration in accordance with the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, 2004. The arbitration shall take place in Nnewi, Anambra State, and the language shall be English. Each party shall bear its own costs, and the arbitrator’s award may be entered as judgment in any competent court.
We reserve the right to update or modify these Terms and the Privacy Policy at any time. Material changes will be notified via email, push notification, or a prominent banner on our website and mobile app. The “Last Updated” date at the top of this document will be revised. Your continued use after any changes constitutes acceptance of the new Terms.
If you have any questions about these Terms and Conditions, Privacy Policy, or your data rights, please reach out to us:
