Welcome | Okada Microfinance Bank Limited

1. Introduction

Welcome to Okada Microfinance Bank Limited. We are committed to protecting your personal data and respecting your privacy. This Privacy Policy complies with the Nigeria Data Protection Act (NDPA) and the Nigeria Data Protection Regulation (NDPR) issued by the National Information Technology Development Agency (NITDA).

2. The Data We Collect

To provide you with secure banking services and comply with the Central Bank of Nigeria (CBN) Know Your Customer (KYC) regulations, we may collect and process the following data:

Identity Data: Full name, date of birth, gender, Bank Verification Number (BVN), and National Identity Number (NIN).
Contact Data: Residential address, email address, and telephone numbers.
Financial Data: Transaction history, account balances, and credit history.

3. How We Use Your Data

Your personal data is strictly used to:

Process your account opening and loan applications.
Comply with anti-money laundering (AML) and counter-terrorism financing (CFT) laws in Nigeria.
Improve our services and communicate important updates to you.

4. Data Security & NDPR Compliance

We implement robust, industry-standard security measures to prevent unauthorized access to your data. Your data is stored securely on servers within Nigeria (or compliant jurisdictions) as mandated by the NDPR. We do not sell your personal data to third parties.

5. Your Rights

Under Nigerian data protection laws, you have the right to request access to, correction of, or deletion of your personal data, subject to CBN regulatory retention periods.