These Terms and Conditions (the "Terms") are applicable when you sign up on Merry-Go-Round (the "Services"). These Terms constitute a binding contract between Collo Africa (hereinafter referred to as "we", "us" and "our") and you. Please do not use the Service if you do not accept these Terms.
In order to use the Services, you must: (a) accept and agree to these Terms, our Anti Money Laundering Policy and our Privacy Policy; (b) register with us online; (c) be a Nigerian citizen (or a legal Nigerian resident) of at least 18 years of age; (d) have a bank account with a Nigerian financial institution; and (e) provide all information requested by us, such as your name, email address, mobile phone number, debit card credentials, BVN, NIN, and such other information as we may request from time to time.
To access the Services, you must register to create an account ("User Account"). You are responsible for safeguarding your password and other User Account information. You agree not to disclose your password to any third party, and you will notify us immediately if your password is lost or stolen or if you suspect any unauthorized use of your User Account.
Except as otherwise required by applicable law, you are responsible for all transactions and other activities authorized or performed using your username and password or mobile device, whether authorized or unauthorized by you.
To the extent permitted by applicable law, we may, in our sole discretion and without liability to you, terminate or suspend access to your User Account for any reason, including your breach of these Terms.
By using the Services, you consent to the collection, use, storage, and disclosure of your information as set forth in these Terms and our Privacy Policy, which is incorporated into these Terms by this reference.
Either you or the admin of your contribution circle will determine the contribution threshold, payment allocation, and periodicity of payment for your contributions. You agree that the payment mode for the Services will be via direct debit on your debit card, and you agree to fund your account to the amount expected to be debited.
As a pre-condition for using the Services, you agree to provide a signed debit mandate form linked to your BVN to ensure prompt fulfillment of your transfer obligations.
By accepting these Terms electronically, you represent that you have read and understand this consent to use electronic signatures and to receive all Communications electronically, and that your consent will remain in effect until withdrawn.
You must not use the Service to violate or infringe the rights of any other person. You must not breach any laws or regulations when using the Services or attempt to disrupt or interfere with the security or functionality of the Services.
If we suspect that you are using the Services for illegal activities (particularly fraud or money laundering), we reserve the right to block your account immediately without liability and report to the appropriate law enforcement agencies or regulator.
You agree to defend, indemnify, and hold us harmless from and against any and all claims, liabilities, damages, losses, costs, and expenses arising from your use of the Services, violation of these Terms, or any third-party rights.
All content, material and information included on our website and the Services page are, unless otherwise stated, our exclusive copyright works, protected by local and international copyright laws.
We do not charge a fee for the Services. However, you agree that you will be charged 0.5% for MGR Allocation. We reserve the right to change fees in the future and will notify you before doing so.
We are not a financial adviser, and the Services are not intended to provide financial advice. The Service is provided "as is" without warranty of any kind. We disclaim all warranties regarding the Service, including all implied warranties of merchantability and fitness for a particular purpose.
In no event shall we be liable for any direct, indirect, punitive, incidental, special, or consequential damages arising out of or in any way connected with the use or performance of the Service.
You represent and warrant that none of the cash or assets that will be the subject of any transaction using our Services has been or shall be derived from any activity deemed to be in contravention of The Money Laundering (Prevention and Prohibition) Act, 2022, or other applicable AML Laws.
These Terms shall be governed, construed, and enforced in accordance with the laws of the Federal Republic of Nigeria.
Any dispute which cannot be amicably resolved by the Parties within thirty (30) days shall be referred to arbitration in accordance with the Arbitration and Mediation Act 2023.
We may add to, terminate, or amend these Terms at any time. We will notify you of material changes by posting an updated version on our website or delivering notice electronically. Your continued use of the Services constitutes acceptance of the revised Terms.
If you have any questions, complaints, or concerns regarding these Terms, please contact us at community@colloafrica.com or WhatsApp +234 913 277 5707.