Tekla Finance

Terms & Conditions

Welcome to Tekla Factoring & Finance Limited (“Tekla,” “we,” “us,” or “our”). These Terms and Conditions (“Terms”) govern your access to and use of our mobile-first banking solutions, including digital savings accounts, wallets, loans, and all other products and services (collectively, the “Services”) provided through our website, mobile application, USSD, and any other platforms owned or operated by Tekla.

By accessing or using any of our Services, you agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, you may not access or use our Services.

1. Eligibility

To use our Services, you must:

  • Be at least 18 years old.
  • Be a resident of Nigeria or have a valid Nigerian address.
  • Have the legal capacity to enter into a binding contract.
  • Comply with all applicable laws and regulations.

2. Account Registration and Security

2.1. To access certain Services, you will need to register for an account. You agree to provide accurate, complete, and up-to-date information during the registration process and to update such information promptly if it changes.
2.2. You are responsible for maintaining the confidentiality of your account login credentials (e.g., username, password, PIN) and for all activities that occur under your account. You agree to notify us immediately of any unauthorized use of your account or any other breach of security.
2.3. Tekla will not be liable for any loss or damage arising from your failure to comply with this Section 2.

3. Our Services

3.1. Savings & Wallets:

  • Digital Savings Accounts: Terms specific to interest rates, withdrawal limits, and account features will be provided in your account details or product-specific agreements.
  • Goal-Based & Fixed Deposits: Specific terms, including maturity periods, interest rates, and penalties for early withdrawal, will apply as agreed upon at the time of deposit.
  • Mobile Wallets: Wallets facilitate instant onboarding and digital transactions. Usage is subject to daily/transaction limits and regulatory requirements.

3.2. Loans & Credit:

  • Loan Applications: All loan applications are subject to our credit assessment criteria. Approval is not guaranteed.
  • Loan Terms: Specific loan terms, including interest rates, repayment schedules, fees, and collateral requirements (for asset-backed loans), will be detailed in your individual loan agreement.
  • Disbursement: Loan disbursements are made directly to your Tekla account or designated bank account upon approval.

3.3. Transfers & Payments (Coming Soon):

  • Interbank Transfers (NIP), QR & Wallet Payments: These services will allow you to send and receive funds. Transaction limits and associated fees will apply.
  • Airtime, Utility, and Bill Payments: Convenience services for various bill payments. Availability and terms will be specified upon launch.

3.4. Cards & POS (Coming Soon):

  • Debit, Prepaid & Virtual Cards: Terms for card issuance, usage limits, fees, and lost/stolen card procedures will be provided.
  • POS Support: Terms for merchants using our POS services, including transaction fees and settlement procedures, will be detailed separately.

3.5. Investments & Micro-Thrift (Coming Soon):

  • Cooperative Savings, Fixed Plans, Wealth Tools: Investment products carry inherent risks. Specific terms, including potential returns and risks, will be outlined in separate investment agreements.

3.6. Financial Tools (Coming Soon):

  • Budgeting, Digital Receipts, Credit Score Visibility: These tools are for informational and financial management purposes. Credit score visibility is based on data from third-party credit bureaus, and Tekla is not responsible for the accuracy of such third-party data.

4. Fees and Charges

4.1. You agree to pay all applicable fees and charges associated with your use of the Services, as published on our website, mobile app, or communicated to you.

4.2. Fees may include, but are not limited to, transaction fees, service charges, maintenance fees, and late payment charges on loans.

4.3. We reserve the right to revise our fees and charges at any time, with prior notice to you where required by law.

5. Your Responsibilities

5.1. You agree to use the Services only for lawful purposes and in accordance with these Terms.

5.2. You must not use the Services to engage in any fraudulent, illegal, or unethical activities.

5.3. You are solely responsible for ensuring that your mobile device, internet connection, and any other equipment or software you use to access the Services are secure and compatible with our systems.

5.4. You agree to provide us with all necessary information and documentation as we may reasonably request for compliance with regulatory requirements (e.g., KYC/AML).

6. Intellectual Property

6.1. All content, trademarks, service marks, logos, and other intellectual property displayed on or through the Services are the property of Tekla Factoring & Finance Limited or its licensors.

6.2. You are granted a limited, non-exclusive, non-transferable, revocable license to access and use the Services for your personal, non-commercial use, subject to these Terms.

6.3. You may not copy, modify, distribute, sell, or lease any part of our Services or any content included therein.

7. Disclaimers and Limitation of Liability

7.1. Disclaimer of Warranties: The Services are provided “as is” and “as available,” without any warranties of any kind, either express or implied, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement. Tekla does not warrant that the Services will be uninterrupted, error-free, secure, or free from viruses or other harmful components.

7.2. Limitation of Liability: To the maximum extent permitted by applicable law, Tekla Factoring & Finance Limited, its affiliates, directors, officers, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the Services; (ii) any conduct or content of any third party on the Services; (iii) any content obtained from the Services; and (iv) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed of its essential purpose.

8. Indemnification

You agree to indemnify, defend, and hold harmless Tekla Factoring & Finance Limited, its affiliates, directors, officers, employees, and agents from and against any and all claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys’ fees) arising from your violation of these Terms or your use of the Services.

9. Termination

9.1. We may terminate or suspend your account and access to the Services immediately, without prior notice or liability, for any reason whatsoever, including without limitation if you breach these Terms.

9.2. Upon termination, your right to use the Services will immediately cease. If you wish to terminate your account, you may do so by following the instructions provided in our mobile application or website.

10. Governing Law and Dispute Resolution

10.1. These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.

10.2. Any dispute, controversy, or claim arising out of or relating to these Terms or the breach, termination, or invalidity thereof shall be settled amicably through negotiation. If an amicable settlement cannot be reached within thirty (30) days, the dispute shall be referred to arbitration in Lagos, Nigeria, in accordance with the provisions of the Arbitration and Conciliation Act (Cap A18, Laws of the Federation of Nigeria 2004). The decision of the arbitrator(s) shall be final and binding on both parties.

11. Changes to These Terms

We reserve the right to modify or replace these Terms at any time. If a revision is material, we will provide at least 30 days’ notice prior to any new terms taking effect. What constitutes a material change will be determined at our sole discretion. By continuing to access or use our Services after those revisions become effective, you agree to be bound by the revised terms.

12. Miscellaneous

12.1. Severability: If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions of these Terms will remain in full force and effect.

12.2. Waiver: No waiver of any term of these Terms shall be deemed a further or continuing waiver of such term or any other term, and our failure to assert any right or provision under these Terms shall not constitute a waiver of such right or provision.

12.3. Entire Agreement: These Terms, together with our Privacy Policy and any other agreements explicitly referenced herein, constitute the entire agreement between you and Tekla Factoring &

13. Contact Us

If you have any questions about this Terms & Conditions, please contact us: