Terms of Use

1. About NiyyahPay

Niyyah Digital Technology Ltd is a private limited technology company incorporated under the laws of the Federal Republic of Nigeria. NiyyahPay provides digital software solutions designed to enable disciplined savings, collective contribution rotations (Circles), personal expense management, and ethical, non-interest asset financing.

Important Regulatory Notice: NiyyahPay is a technology platform and financial technology operator. We are not a licensed bank, microfinance institution, or deposit-taking entity. All customer virtual bank accounts, custodial savings balances, and fund settlement operations are provided through and held in custody by our licensed banking and custodial partner, Safe Haven Microfinance Bank, an institution duly licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).

2. Eligibility

To be eligible to access or use the NiyyahPay platform, you represent and warrant that:

• You are at least eighteen (18) years of age and possess full legal capacity to enter into a binding contract under Nigerian law.
• You are a resident of Nigeria or a Nigerian citizen holding a valid Bank Verification Number (BVN) or National Identity Number (NIN).
• All information, identification credentials, and contact details submitted during onboarding or facility application are truthful, accurate, current, and complete.
• You have not been previously suspended, banned, or restricted from using NiyyahPay for violations of our policies or financial integrity rules.

NiyyahPay reserves the right, in its sole discretion, to reject an account registration or limit access to specific features if verification checks cannot be satisfactorily concluded.

3. Your NiyyahPay Account

To utilize core platform features, you must register a NiyyahPay account:

• Account Security: You are responsible for maintaining the confidentiality of your authentication details, including passwords, PINs, and one-time passcodes (OTPs). You agree not to disclose these credentials to any third party.
• No Account Sharing: Your NiyyahPay account is strictly personal and non-transferable. You may not authorize any third party to operate your account on your behalf.
• Notification of Compromise: You agree to immediately notify NiyyahPay at hello@niyyahpay.com if you suspect any unauthorized access, credential theft, or security breach involving your account.
• Liability for Activity: Subject to applicable consumer protection laws, you are solely responsible for all activities and transactions executed through your credentials prior to receipt of a verifiable compromise notice.

4. Savings Features

NiyyahPay provides digital goal-based savings and vault management tools:

• Target Goals: Users may set personalized milestone targets (e.g., business capital, school fees, equipment reserves) and configure automated or manual funding schedules.
• Locked Vaults: Users may choose to lock specific savings for a predetermined timeframe. Locked vaults cannot be broken or withdrawn prior to the designated maturity date, protecting users from impulse expenditures.
• Zero Compounding Interest: In accordance with Islamic financial principles, savings held on NiyyahPay do not accrue interest (Riba) or speculative yields. NiyyahPay provides disciplined capital preservation rather than investment solicitation.
• Withdrawals: Unlocked funds may be withdrawn to your verified personal bank account subject to standard settlement and anti-fraud verification windows.

5. Circles (ROSCA / Collective Contributions)

Circles are collaborative, structured savings pools (modern digital Ajo / Esusu / Adashe):

• Private vs. Public Circles: Circles may be formed privately among trusted individuals or joined through structured community groups. Group administrators and members agree on fixed contribution amounts, payout cycles, and rotation orders.
• Contribution Discipline: Every Circle member is strictly obligated to fund their agreed periodic contribution on or before the designated due date.
• Missed Payments & Default: Failure to make scheduled contributions jeopardizes collective trust. In the event of a missed payment, NiyyahPay reserves the right to restrict account features, apply late administrative recovery measures, or report persistent defaults to licensed credit bureaus and relevant authorities.

6. Asset Financing (Murabaha)

NiyyahPay provides non-interest asset financing based on the authentic Islamic Murabaha (cost-plus sale) contract:

• Vendor Procurement Model: Under Murabaha, NiyyahPay purchases the requested tangible asset (e.g., solar system, laptop, workstation, business equipment) directly from a verified merchant and sells it to the customer at an agreed, upfront price comprising the asset cost plus a fixed, transparent markup.
• Repayment Tenure: The customer pays an initial deposit and settles the remaining balance in structured periodic installments over an agreed tenure (2, 3, 4, or 5 months).
• Zero Compounding Penalties: Repayment amounts are fixed from day one. NiyyahPay never charges compounding interest, compounding penalties, or floating interest rates on delayed payments.
• Separate Agreement: Approval of any financing application is subject to underwriting, income verification, and execution of a specific Murabaha Asset Financing Agreement. Submitting an application on apply-financing does not guarantee financing approval.

7. Payments & Transactions

When funding your account, making Circle contributions, or paying financing installments:

• You authorize NiyyahPay and its payment gateway partners to debit your linked bank card or account for authorized amounts.
• You warrant that you have sufficient available funds in your linked source account to fulfill all authorized debit instructions.
• NiyyahPay is not liable for transaction failures, bank network outages, or third-party bank charges incurred as a result of insufficient funds.
• Transactions suspected of being fraudulent, irregular, or linked to illegal proceeds may be temporarily placed on hold, investigated, or reversed in compliance with Nigerian AML/CFT directives.

8. Fees & Charges

NiyyahPay is committed to absolute fee transparency:

There are no hidden fees. All applicable administrative fees, transfer charges, or Murabaha markups are clearly disclosed before you confirm any transaction, Circle enrollment, or financing agreement. NiyyahPay reserves the right to revise fee schedules periodically; any revisions will be published on our platform with reasonable advance notice.

9. Third-Party Services & Banking Partners

To deliver seamless services, NiyyahPay integrates with Central Bank of Nigeria-licensed institutions, card processors, identity verification providers, and logistics merchants. While we perform thorough due diligence on all partners, NiyyahPay is not responsible for external downtime, network delays, or service interruptions caused by third-party processors outside our direct technical control.

10. Acceptable Use Policy

You agree not to use the NiyyahPay platform for any unlawful, deceptive, or prohibited activities, including but not limited to:

• Engaging in money laundering, terrorism financing, advance fee fraud, or cybercrime.
• Impersonating any person, business, or entity, or using fraudulent identity credentials.
• Reverse engineering, decompiling, or attempting to extract the source code of NiyyahPay software.
• Introducing malicious code, viruses, trojans, or automated scripts that compromise platform infrastructure or user data.
• Utilizing the platform for transactions involving interest (Riba), gambling (Maysir), illicit substances, or goods violating Islamic ethical standards.

11. Intellectual Property

All intellectual property rights in and to the NiyyahPay platform—including logos, software, website architecture, visual designs, UI components, text copy, and trade dress—are the exclusive property of Niyyah Digital Technology Ltd. You are granted a limited, revocable, non-exclusive, non-transferable license to access the platform strictly for your personal, non-commercial use in accordance with these Terms.

12. Platform Availability

While we strive to provide reliable and uninterrupted service, we do not warrant that the platform will always be error-free or uninterrupted. We may schedule routine maintenance, deploy system upgrades, or experience temporary service degradation due to telecommunication outages or cloud infrastructure maintenance.

13. Financial Decisions & Advice Disclaimer

NiyyahPay provides financial management tools and software. The information, calculators, and educational content available on our platform do not constitute professional investment, legal, tax, or financial advice. You are solely responsible for evaluating your financial capacity and making your own informed decisions before entering into savings plans, Circle commitments, or asset financing contracts.

14. Faith & Shariah Principles

NiyyahPay is dedicated to offering financial solutions built around non-interest, faith-aligned values:

Our product structures (such as Murabaha asset financing and non-interest savings) are designed to adhere to core Islamic financial jurisprudence. While we consult Islamic finance practitioners and scholars in structuring our offerings, personal religious interpretations and school-of-thought rulings may vary. Users are encouraged to review product structures and consult trusted scholars if they have specific personal jurisprudence questions.

15. Privacy Reference

Your privacy is of utmost importance to us. Our collection, use, retention, and protection of personal data are governed by our Privacy Policy, which is incorporated into and forms an integral part of these Terms of Use.

16. Suspension & Termination

NiyyahPay reserves the right to suspend, restrict, or terminate your account immediately without prior notice if:

• You breach any provision of these Terms of Use or an executed Murabaha Financing Agreement.
• We are required to do so by a court order, law enforcement directive, or regulatory authority.
• We detect suspicious or fraudulent activity that presents security or legal risks to NiyyahPay or other users.

Termination of your account does not extinguish any pre-existing financial obligations, including outstanding asset financing balances or Circle contributions owed.

17. Limitation of Liability

To the maximum extent permitted by applicable Nigerian law, Niyyah Digital Technology Ltd, its directors, employees, and affiliates shall not be liable for any indirect, incidental, consequential, special, or punitive damages arising out of your access to, or inability to access or use, the platform. In no event shall our total aggregate liability for all claims related to the platform exceed the total administrative fees paid by you to NiyyahPay in the six (6) months preceding the event giving rise to liability.

18. Changes to These Terms

We reserve the right to modify or replace these Terms of Use at any time. When material changes are made, we will update the "Effective Date" at the top of this document and notify users through the application or via email. Your continued use of the platform following the posting of revised terms indicates your acceptance of the updated Terms.

19. Governing Law & Dispute Resolution

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

In the event of any dispute or claim arising from your use of NiyyahPay, you agree to first attempt to resolve the dispute amicably by contacting our support team at hello@niyyahpay.com. If the dispute cannot be resolved informally within thirty (30) days, it shall be submitted to the exclusive jurisdiction of the competent courts in the Federal Capital Territory, Abuja, Nigeria.

20. Contact & Inquiries

If you have any questions, inquiries, or legal notices regarding these Terms of Use, please reach out to our team: