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Terms and Conditions

These Terms and Conditions apply to and regulate the use of Digikolo Application

Digikolo is an online savings platform that enables you put away funds you wish to save for future use. You will be asked to provide information (such as your date of birth and your Bank Verification Number) when opening a Digikolo Account as well as your current residential address, and/or any other KYC requirement as may be prescribed from time to time. This information shall be used for verification purposes.

In order to ensure that we are able to provide communications to you electronically, you must notify us of any change in your email address and your mobile device number or other text message address by updating your profile with us.

DEFINITIONS

Reference to the words: “You”, “your”, “Customer”, shall mean an account holder on the Digikolo Platform while “We”, “us” and “our” shall mean Digital Space Capital Limited (DSC)

“Account” means the Customer’s account with DSC

“Platform” or  “Services “means Digikolo

CONDITIONS FOR USE OF THE PLATFORM

By using the Digikolo application,You confirm that you (a) are at least 18 years of age (b) have a bank account with a Nigerian financial institution; and (c) will provide all information as may be requested by us, such as your name, email address, mobile device number, online credentials for your bank account, and such other information as we may request from time to time (“Customer Information”).

You represent and warrant that all personal Information you provide us from time to time is truthful, accurate, current, and complete, and you agree not to misrepresent your identity or your Customer Information.

You agree to be bound by these terms and conditions and any subsequent amendments thereof

You agree to promptly notify us of changes to your personal Information (KYC) by updating your profile on the Plattform

Upon approval of your registration, you will be authorized to save on our platform subject to these terms –

For our compliance purposes you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and bank account information.

When you register on the Digikolo Platform and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as: Bank Verification Number (BVN), A copy of your government-issued photo ID, such as a national ID, international passport, permanent voter’s card or driver’s license and such other information and documentation that we may require from time to time.

THE SERVICES

Digikolo: You can save at any time using digikolo, be it daily, weekly, monthly or quarterly. Your interest will accrue on a daily basis at an interest rate of 11% per annum (subject to change). You can withdraw saved funds at any time (outside the 4 free withdrawal days in a year) subject to a charge of 1.75% on the withdrawn amount. This charge will be debited from the withdrawn sum and shall be credited into the verified account number which you have provided. Digikolo also affords you a quicksave option where you can save any desired amount out of the preset amount and period on the platform.

Digi-target: Digitarget allows you to save for a purpose within a determined specified period at an interest rate of 13% per annum. A specified amount, frequency and duration is selected by the customer. Based on the set parameters the system generates the amount to be deducted. Default by the customer in meeting the set target as selected will result in forfeiture of the interest rate accrued on the saved sum. Withdrawal of saved funds by the customer before the end of the target duration will attract forfeiture of the interest accrued and a withdrawal charge of 1.75% on the withdrawn amount.

Digilock: Digilock affords you the opportunity to lock your funds for a set (period 10-30days, 31-60days, 61-90days, 91-180days, 181-365days) to earn up to an interest of 15.5% per annum (subject to change) depending on the tenor of which the funds is locked with breakdown shown below:

10 – 30 days – 10% per annum

31-60 days – 11% per annum

61- 90 days – 12% per annum

91 – 180 days – 13.5% per annum

181 – 365 days – 15.5% per annum

The interest on locked funds is paid upfront and your deposited funds cannot be withdrawn within the period for which it has been locked until tenor elapses or maturity.

By signing up to use the Application, You authorize DSC to manage your saved funds or any funds deducted from your account, either directly, via its authorized subsidiaries or third-party licensed wealth management partners.

DSC will not be liable in any way for any indirect, special, punitive, consequential, or indirect damages (including without limitation to lost profits, cost of procuring substitute service or lost opportunity) arising out of or in connection with your decision to invest your savings, whether or not they are made aware of the possibility of such damages.

CUSTOMER CONSENT

By ticking the “I agree to the Terms and Conditions”, which you hereby adopt as your signature, you consent and agree that:

We can provide materials and other information about your legal rights and duties to you electronically.

We are authorized to share, receive and use data/information collected from your transaction with other affiliated third parties including but not limited to switching companies, mobile network operators, electricity companies, aggregators, credit bureaus, other financial institutions, e-commerce platforms, etc.

DSC may at any time, vary or review these Terms and Conditions by updating this document. You agree to be bound by subsequent revisions and agree to review these Terms and Conditions periodically for changes. The most updated version of this document will be available for your review

INDEMNIFICATION

You will indemnify and hold harmless DSC, its Third Party Providers, officers, directors, agents, partners, employees, licensors, distributors, and representatives of DSC from and against any and all claims, demands, actions, causes of action, suits, proceedings, losses, damages, costs, and expenses, including reasonable attorneys’ fees, arising from or relating to your access and/or use of, or interaction with the Digikolo Platform (including, without limitation, Third Party Content), or any act, error, or omission of your use of your account or any user of your account, in connection therewith, including, but not limited to, matters relating to incorrect, incomplete, or misleading information; libel; invasion of privacy; infringement of a copyright, trade name, trademark, service mark, or other intellectual property. DSC reserves the right to assume the exclusive defense and control of any matter subject to indemnification by you, in which event you will cooperate in asserting any available defenses.

ADDITIONAL TERMS

In conjunction with your access or use of the Services, you may be subject to additional terms, rules, policies, and conditions that are posted on our platform. In the event of a conflict between any Additional Terms and these Terms, these Terms will prevail.

DISCLAIMER

DSC shall not be liable for any authorized or unauthorized use of your account on the platform by any third party. Therefore, it is your responsibility to secure your account, password and all details that pertains to your account (“Sensitive information”) DSC will not be responsible for any loss or damage suffered by you as a result of a release of such sensitive information.

WARRANTY DISCLAIMER

To the fullest extent permitted by applicable law and except as otherwise expressly provided in these terms, you expressly understand and agree that your use of the services and all information, products, and other content (including that of third parties) included in or accessible from the Platform is provided as is. The services are provided on an “as is” and “as available” basis without any warranty of any kind. To the maximum extent permitted by applicable law, we and our third-party service providers expressly disclaim any and all conditions, representations, and warranties of any kind as to the services and all information, products, and other content (including that of third parties) included in or accessible from the services, whether express, implied, statutory, or otherwise, including, but not limited to, any implied warranty of merchantability, fitness for a particular purpose, and non-infringement. No oral or written information or advice obtained by you from us or our third-party service providers through or from the services will create any warranty not expressly stated in these terms.

Any material downloaded or otherwise obtained through the services is done at your own discretion and risk, and you are solely responsible for any damage to your computer system or loss of data that results from the download of any such material.

THIRD-PARTY BENEFICIARY

You agree that our third-party service providers are third-party beneficiaries of the applicable provisions of these Terms, with all rights to enforce such provisions as if such service providers were a party to these Terms.

GOVERNING LAW

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.

DISPUTE RESOLUTION BY BINDING ARBITRATION; JURY TRIAL WAIVER; CLASS ACTION WAIVER

You agree that any dispute arising between You and DSC in relation to your use of the app shall first be settled amicably. In the event that parties are unable to settle such dispute amicably within 30 days after the declaration of such dispute, such dispute shall be referred to arbitration.

MISCELLANEOUS

You will be responsible for paying, withholding taxes, duties, and other governmental assessments associated with your activity in connection with your use of Digikolo, provided that we may, in our sole discretion, do any of the foregoing on your behalf or for ourselves. The failure of either you or us to exercise, in any way, any right herein will not be deemed a waiver of any further rights hereunder. If any provision of these Terms is found to be unenforceable or invalid, that provision will be limited or eliminated, to the minimum extent necessary, so that these Terms will otherwise remain in full force and effect and enforceable. These Terms, together with our Privacy Policy, constitute the entire and sole agreement between you and us with respect to the Services and supersedes all prior understandings, arrangements, or agreements, whether written or oral, regarding the Services. You hereby acknowledge and agree that you are not an employee, agent, partner, or joint venture of DSC, and you do not have any authority of any kind to bind DSC in any respect whatsoever.