Last Updated: 16 July, 2019

Terms of Use

These terms of service ("Terms of Service" or “Agreement”) constitute a legal agreement between you and Credit Assist Investment Limited hereinafter referred to as “Kolomoni”, a Company duly registered with the Corporate Affairs Commission and the owner of the Kolomoni app. By visiting and signing up on this App, you accept our terms and conditions of service.

1. Accepting the Terms

Please read these terms of service carefully. By accessing or using the Kolomoni app or services, you agree to be bound by the terms of use. If you do not wish to be bound by these terms, you may not access or use the app or the services. You may not use the app or the services, or accept these terms of use, if (a) you are not 18 years and above or 21 years old if you reside in a state where the majority age is 21 years old; (b) you are not a Nigerian citizen or a legal Nigerian resident; (c) you do not own or have a bank account with a licensed Nigerian bank, or (d) you are in any way prohibited by law from receiving or using the services provided by Kolomoni.

2. Description of the Services

We provide electronic automated savings service. As our Client, we will manage your savings and pay you interest on terms. By using our web and Apps, you enter into a series of legally binding agreements. You also agree to our Privacy Policy which covers how we collect, use, share and store your personal information.

3. Account Information from Third Party(s)

Users may direct Kolomoni to retrieve their transaction-related information maintained online by third parties with which they have a relationship, maintain an account or engage in financial transactions (“Account Information”), including, without limitation, bank account information. Kolomoni works with one or more online service providers to access this Account Information. Kolomoni cannot always foresee or anticipate technical or other difficulties which may result in failure to obtain data or loss of data, personalization settings or other service interruptions. Kolomoni cannot assume responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, communications or personalization settings.

4. Your Registration Information

In order to use the Services, you will need to sign up for an account with Kolomoni by providing your email address (“LoginID”) and other requested information. Once you submit the required registration information, we alone will determine whether or not to approve your proposed account. We may use the information you provide to verify your identity when you contact us. You authorize us to make any inquiries we consider necessary to validate your identity. If you do not provide the requested information or Kolomoni cannot verify your identity, we may refuse to allow you to use the Services. For so long as you use the account, you agree to provide true, accurate, current, and complete information. You agree and understand that you are responsible for maintaining the confidentiality of your password which, together with your LoginID, allows you to access the App and Services. That LoginID and password, together with any mobile number or other information you provide form your “Registration Information.” By using the , App and/or Services, you agree to receive all required notices electronically, through the Services by displaying links to notices or via notices sent to your LoginID or email. It is your responsibility to update or change your LoginID, as appropriate. These electronic communications may include notices about applicable fees and charges, transactional information and other information concerning or related to the App or Services. These electronic communications are part of your relationship with us. You agree that any notices, agreements, disclosures or other communications that we send you electronically will satisfy any legal communication requirements, including that such communications be in writing. You are responsible for complying with these Terms of Service when you access and use the , App and Services. Because it is your account, it is your job to obtain and maintain all equipment and services needed for access to and use the Services as well as to pay any related charges. It is also your responsibility to maintain the confidentiality of your account. If you become aware of any unauthorized use of your Registration or Account Information for the Services, you agree to notify Kolomoni immediately at the email address In addition, if you believe that your Registration or Account Information or device that you use to access the Services has been lost or stolen, that someone is using your account without your permission has occurred, you must notify Kolomoni immediately in order to minimize possible losses.

5. Your Use of the Services

Your right to access and use the App, Our Site and the Services is personal to you and is not transferable by you to any other person or entity. You are only entitled to access and use the App, Site and Services for lawful purposes. You represent that you are a legal owner of, and that you are authorized to provide us with, all Registration and Account Information and other information necessary to facilitate your use of the Services. Your access and use of Services may be interrupted from time to time for any of several reasons, including, without limitation, the malfunction of equipment, periodic updating, maintenance or repair of the Services or other actions that Kolomoni, in its sole discretion, may elect to take. In no event will Kolomoni be liable to any party for any loss, cost, or damage that results from any scheduled or unscheduled downtime. Your sole and exclusive remedy for any failure or non-performance of the Services, including any associated software or other materials supplied in connection with such services, shall be for Kolomoni to use commercially reasonable efforts to effectuate an adjustment or repair of the applicable service.

6. Fees

Kolomoni currently charges no fees for access and use of the App, Site or Services, for Nigerian users. There are no transaction charges or monthly fees for the Services for Nigerian users. International cards are however charged a 5% transaction fee. Please note that Kolomoni reserves the right to charge such fees for the App, Site or Services in future. We will notify you before charging any fees for the Services by email, by posting information about such fees on the App and/or Our Site, as applicable, or by any other method permitted by applicable law. If you continue accessing or using the App, Site or Services after such notice, you must pay all applicable fees.

7. Restrictions to Use

Kolomoni is a Mobile Application “App” that allows you to access Services via a mobile device. To use the App you must have a mobile device that is compatible with the App. We do not warrant or warrant that the App will be compatible with your mobile device. You are not permitted to: (i) modify the App in any manner whatsoever, except permitted by law; (ii) lend, resell, sublicense, distribute or otherwise transfer the App to any third-party or use the App to provide time sharing or similar services for any third-party; (iii) make any copies of the App; (iv) remove, circumvent, disable, damage or otherwise interfere with security-related features of the App, features that prevent or restrict use or copying of any content accessible through the App, or features that enforce limitations on use of the App; or (v) delete the copyright and other proprietary rights notices on the App. You acknowledge that we may from time to time issue upgraded versions of the App, and may automatically electronically upgrade the version of the App that you are using on your mobile device. You consent to such automatic upgrading on your mobile device, and agree that these Terms of Service will apply to all such upgrades. The foregoing license grant is not a sale of the App or any copy thereof, and we and our third-party licensors or suppliers retain all right, title, and interest in and to the App (and any copy of the App). Standard carrier data charges may apply to your use of the App and you agree that you are solely responsible for such charges, including any applicable changes, updates and fees as well as the terms of your agreement with your mobile device and telecommunications provider. Kolomoni makes no warranties, conditions or representations of any kind, express, statutory or implied as to: (i) the availability of telecommunication services from your provider and access to the services at any time or from any location; (ii) any loss, damage, or other security intrusion of the telecommunication services; and (iii) any disclosure of information to third parties or failure to transmit any data, communications or settings connected with the services. To be clear, Kolomoni permits your use of the App, Site and Services only for non-commercial and personal purposes and any other use is prohibited and, therefore, constitutes unauthorized use.

8. Online and Mobile Alerts

Kolomoni may from time to time provide automatic alerts and voluntary account-related alerts. Automatic alerts may be sent to you following certain changes to your account or information, such as a change in your Registration Information. Voluntary account alerts may be turned on by default as part of the Services. They may then be customized, deactivated or reactivated by you. These alerts allow you to choose alert messages for your accounts. Kolomoni may add new alerts from time to time, or cease to provide certain alerts at any time upon its sole discretion. Each alert has different options available, and you may be asked to select from among these options upon activation of your alerts service. You understand and agree that any alerts provided to you through the Services may be delayed or prevented by a variety of factors. Kolomoni may make commercially reasonable efforts to provide alerts in a timely manner with accurate information, but cannot guarantee the delivery, timeliness, or accuracy of the content of any alert. Kolomoni shall not be liable for any delays, failure to deliver, or misdirected delivery of any alert; for any errors in the content of an alert; or for any actions taken or not taken by you or any third party in reliance on an alert. Electronic alerts will be sent to the email address you have provided as your primary email address for the Services. If your email address or your mobile device’s email address changes, you are responsible for informing us of that change.

9. Intellectual Property Rights

The App, Our Site and Services include registered and unregistered trademarks that belong to Kolomoni. Other trademarks, names and logos found in the App, Our Site and Services are the property of their respective owners. If you send or transmit any communications, comments, questions, suggestions, or related materials to Kolomoni whether by letter, email, telephone, or otherwise, suggesting or recommending changes to any part of the or Services, including, without limitation, new features or functionality relating thereto, all such Feedback is, and will be treated as, non-confidential and non-proprietary. You hereby assign all right, title, and interest in, and Kolomoni is free to use, without any attribution or compensation to you, any ideas, know-how, concepts, techniques, or other intellectual property and proprietary rights contained in the Feedback, whether or not patentable, for any purpose whatsoever. You understand and agree that Kolomoni is not obligated to use, display, reproduce, or distribute any such ideas, know-how, concepts, or techniques contained in the Feedback, and you have no right to compel such use, display, reproduction, or distribution. Kolomoni respects the intellectual property rights of others and encourage you to do the same. Accordingly, we have a policy of removing User Content that violates intellectual property rights of others, suspending access to the Services (or any portion thereof) to any user who uses the Services in violation of someone’s intellectual property rights, and/or terminating in appropriate circumstances the account of any user who uses the Services in violation of someone’s intellectual property rights.

10. Your Indemnification of Kolomoni

You agree to indemnify and hold harmless Kolomoni and its officers, directors, shareholders, and employees, from and against all claims, suits, proceedings, losses, liabilities, and expenses, whether in tort, contract, or otherwise, that arise out of or relate, including but not limited to reasonable legal fees, in whole or in part arising out of or attributable to your breach of this Agreement, the App, Our Site or your use of the Services.

11. Ending your Relationship with Kolomoni

This Agreement will continue to apply until terminated by either you or Kolomoni as set out below. If you want to terminate your legal agreement with Kolomoni, you may do so as follows: To close your account, please email providing sufficient information for us to verify your identity. Within 48 hours of receipt of your closure request, we will disburse any credit balances in your Kolomoni Account to a linked account belonging to you. If your linked account is inaccessible by any reason or we are otherwise unable to disburse your credit balance to your linked account, we will promptly notify you and your Kolomoni Account will remain open until you link another of your bank accounts, to which we may pay the credit balance. Please note that we will not make disbursements of any credit balances following closure of your Kolomoni Account to any third party. Note that if we receive your closure request less than 24 hours prior to any scheduled payment to or from your Kolomoni Account, your closure request may take effect after such payment has been made and we will not be responsible for any inconvenience or loss caused to you. Notwithstanding the foregoing, if there are any pending transactions relating to your Kolomoni Account when we receive your termination notice, we will close your Kolomoni Account promptly after such transactions are completed. Your termination of these Terms will not affect any of our rights or your obligations arising under these Terms prior to termination. If you do not use the Services for a certain period of time, applicable law may require us to report the funds in your Kolomoni Account as unclaimed property. If this occurs, we may try to locate you at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your Kolomoni Account to the applicable state as unclaimed property. The specified period of time to report and deliver funds to a state varies by state, but usually ranges between two and five years. Provisions of these Terms that, by their nature, should survive termination of these Terms will survive termination of these Terms.

12. Modifications

Kolomoni reserves the right at any time and from time to time to modify or discontinue, temporarily or permanently, the App, Site or Services with or without notice. If you do not agree to the changes after receiving a notice of the change to the Services, you may stop using the Services. Your use of the Services, after you are notified of any change(s) will constitute your agreement to such change(s).

13. Disclaimer of Representations and Warranties

The App, Site, Services, information, data, features, and all content and all services and products associated with the services or provided through the services (whether or not sponsored) are provided to you on an “as-is” and “as available” basis. Kolomoni, its affiliates, and its third party providers, licensors, distributors or suppliers (collectively, "suppliers") make no representations, warranties or conditions of any kind, express or implied, as to the content or operation of the App, Site or of the services. You expressly agree that your use of the services is at your sole risk.

14. Governing Law and Forum for Disputes

These Terms are made under and will be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without giving effect to any principles that provide for the application of the law of another jurisdiction. Except where prohibited by law, any controversy, claim or dispute arising out of, relating to, or in respect of these Terms, including their negotiation, validity, existence, breach, termination, construction or application, or the rights, duties or obligations of any party, or the rights, duties or obligations of any party derived from or associated with these Terms (a “Dispute”), shall be referred to and determined by a single arbitrator in a final and binding arbitration administered under the Arbitration and Conciliation Act of Nigeria subsisting at the time of the dispute. The arbitration will be administered by the Oyo State Multi-Door Court House, Ring Road, Ibadan.

Contact Us

If you have any questions about these Terms of Service or otherwise need to contact us for any reason, you can reach us by email at