Terms of Service
Apices Finance Company Limited
Effective Date:** March 11, 2026
Last Updated:** March 11, 2026
----------------------------------------------------------------------------------------------------------------------------------------------
1. Introduction and Acceptance of Terms
These Terms and Conditions ("Terms") constitute a legally binding agreement between you ("Customer," "Borrower," "Client," "you," or "your") and Apices Finance Company Limited ("Apices Finance," "Company," "we," "us," or "our"), a finance company duly registered and operating under the laws of the Federal Republic of Nigeria.
By accessing our services, submitting an application, opening an account, accepting a loan or credit facility, using our website, mobile applications, or engaging with us in any capacity, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions, together with our Privacy Policy and any other policies referenced herein.
If you do not agree to these Terms, you must not use our services or platforms.
2. Definitions
For the purposes of these Terms:
- "Account" means any account opened with Apices Finance for the provision of financial services
- "Applicable Laws" means all relevant Nigerian laws, regulations, and regulatory guidelines including but not limited to the Banks and Other Financial Institutions Act (BOFIA), Central Bank of Nigeria Act, and other financial services regulations
- "Business Day" means any day other than Saturday, Sunday, or a public holiday in Nigeria
- "Collateral" means any security, guarantee, or asset pledged to secure a loan or credit facility
- "Credit Facility" means any loan, advance, overdraft, or other credit arrangement provided by Apices Finance
- "Default" means failure to comply with any obligation under these Terms or any loan agreement
- "Interest" means the cost of borrowing charged on credit facilities
- "Platform" means our website, mobile applications, and any digital channels through which we provide services
3. Eligibility and Account Opening
3.1 Eligibility Requirements
To use our services, you must:
- Be at least 18 years of age or the age of majority in your jurisdiction
- Be a resident of Nigeria or have a valid legal status to transact business in Nigeria
- Have legal capacity to enter into binding contracts
- Provide accurate, complete, and current information as requested
- Comply with all applicable laws and regulations
3.2 Account Opening Process
- You must complete our application process and provide all required documentation
- We reserve the right to accept or reject any application at our sole discretion
- You must complete our Know Your Customer (KYC) and due diligence requirements
- Account opening is subject to identity verification and credit assessment
- We may request additional information or documentation at any time
3.3 Account Types
We offer various account and service types for:
- Individual customers
- Small and medium-scale enterprises (SMEs)
- Corporate clients
- Joint accounts (subject to specific terms)
3.4 Prohibited Customers
We do not provide services to:
- Individuals or entities engaged in illegal activities
- Persons subject to sanctions or regulatory restrictions
- Shell companies or entities lacking beneficial ownership transparency
- Any person or entity we determine poses unacceptable risk
---
4. Credit Facilities and Loan Products
4.1 Loan Application
- All loan applications are subject to credit assessment and approval
- Approval is at our sole discretion based on creditworthiness, capacity, and other criteria
- We may require guarantors, co-borrowers, or collateral
- Loan terms, amounts, interest rates, and repayment schedules are specified in individual loan agreements
4.2 Loan Disbursement
- Approved loans will be disbursed to your designated bank account or as otherwise agreed
- Disbursement is subject to fulfillment of all conditions precedent
- You authorize us to deduct applicable fees and charges before disbursement
- Disbursement may be in tranches as specified in the loan agreement
4.3 Interest Rates and Charges
- Interest rates are calculated based on the reducing balance or flat rate method as specified
- Interest accrues from the date of disbursement until full repayment
- We charge various fees including but not limited to: processing fees, management fees, late payment penalties, default interest, insurance premiums, legal fees, and valuation fees
- All fees and charges are disclosed in the loan agreement and fee schedule
- We reserve the right to vary interest rates and charges in accordance with market conditions and regulatory requirements
### 4.4 Repayment Obligations
- You must repay loans according to the agreed schedule
- Repayment may be by direct debit, standing order, bank transfer, or other agreed methods
- You authorize us to debit your account for loan repayments
- Payments are applied first to penalties and charges, then interest, then principal
- Early repayment may be permitted subject to notice and applicable fees
- Partial payments may be accepted but do not waive the full obligation
4.5 Default and Consequences
Default occurs when you:
- Fail to make payment when due
- Breach any term of the loan agreement
- Provide false or misleading information
- Become insolvent or bankrupt
- Die (for individual borrowers without adequate insurance)
Upon default, we may:
- Declare the entire loan immediately due and payable
- Charge default interest and penalties as specified
- Report to credit bureaus
- Commence legal action and recovery proceedings
- Realize collateral and security
- Set-off against any deposits or accounts you hold with us
- Engage debt collection agencies
- Exercise any other remedies available under law
---
5. Collateral and Security
5.1 Security Requirements
- We may require collateral to secure credit facilities
- Acceptable collateral includes real property, equipment, inventory, receivables, guarantees, and other assets we deem acceptable
- You must provide clear and marketable title to collateral
- All collateral must be properly documented, valued, and registered
5.2 Insurance
- You must maintain adequate insurance on all collateral at your expense
- We must be named as beneficiary or loss payee on insurance policies
- Failure to maintain insurance constitutes default
5.3 Perfection of Security
- You authorize us to register security interests with relevant authorities
- You must execute all documents necessary to perfect our security
- All costs of perfecting security are borne by you
5.4 Realization of Security
- Upon default, we may realize security without further notice
- We may sell collateral publicly or privately at our discretion
- Any surplus after satisfaction of debt will be returned to you
- Any deficiency remains your obligation
---
6. Representations and Warranties
You represent and warrant that:
- All information provided to us is true, accurate, complete, and not misleading
- You have legal capacity and authority to enter into agreements with us
- There are no legal impediments to your borrowing or pledging collateral
- You are not involved in any litigation that would affect your ability to repay
- Your financial statements and information are accurate
- You will use loan proceeds only for stated purposes
- You will not engage in any illegal activities with our services
These representations and warranties are deemed repeated each time you transact with us.
---
7. Customer Obligations
You agree to:
7.1 General Obligations
- Provide accurate and complete information at all times
- Notify us immediately of any changes to your contact information, employment, or financial circumstances
- Maintain sufficient funds for repayments
- Comply with all applicable laws and regulations
- Use our services only for lawful purposes
- Cooperate with our monitoring and review processes
7.2 Financial Obligations
- Use loan proceeds only for approved purposes
- Maintain accurate financial records
- Provide financial statements and information as requested
- Notify us of any material adverse changes to your financial condition
- Not incur additional debt that would impair your ability to repay us
7.3 Collateral Obligations
- Maintain collateral in good condition
- Not dispose of, encumber, or lease collateral without our consent
- Permit our inspection of collateral
- Maintain adequate insurance
8. Our Rights and Remedies
8.1 Right to Set-Off
We may set-off any amounts you owe us against any deposits or funds you maintain with us or any amounts we owe you.
8.2 Right to Information
We may request financial statements, tax returns, bank statements, and other information at any time. Failure to provide such information may constitute default.
8.3 Right to Vary Terms
We reserve the right to vary these Terms, interest rates, fees, and charges by giving you reasonable notice as required by law. Continued use of our services after such notice constitutes acceptance.
8.4 Right to Refuse Service
We may refuse to provide services, decline applications, or terminate relationships at our discretion, particularly where we suspect fraud, money laundering, or other illegal activities.
8.5 Assignment
We may assign, transfer, or securitize our rights and obligations under loan agreements without your consent. You may not assign your rights or obligations without our prior written consent.
9. Data Protection and Confidentiality
9.1 Data Collection and Use
Our collection, use, and protection of your personal information is governed by our Privacy Policy, which forms part of these Terms.
9.2 Credit Bureau Reporting
You authorize us to:
- Obtain your credit reports from credit bureaus
- Report your credit information and payment history to credit bureaus
- Share information with other financial institutions for credit assessment
9.3 Confidentiality
We maintain confidentiality of your information except where disclosure is:
- Required by law or regulation
- Necessary for providing services
- To credit bureaus, guarantors, or service providers
- With your consent
10. Compliance and Regulatory Requirements
10.1 Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)
- We comply with all AML/CTF laws and regulations
- You must provide information for customer due diligence
- We monitor transactions for suspicious activities
- We report suspicious transactions to relevant authorities
- We may freeze accounts or refuse transactions where we suspect illegal activities
10.2 Know Your Customer (KYC)
- You must provide valid identification and supporting documents
- We conduct ongoing KYC reviews
- You must update your information when changes occur
- Failure to comply with KYC requirements may result in service suspension
10.3 Tax Compliance
- You are responsible for all tax obligations arising from our services
- We may withhold taxes as required by law
- We may report information to tax authorities as required
11. Platform Usage and Digital Services
11.1 Access and Security
- You are responsible for maintaining the confidentiality of login credentials
- You must notify us immediately of any unauthorized access
- We are not liable for losses arising from unauthorized access due to your negligence
- You must use strong passwords and security measures
11.2 Acceptable Use
You must not:
- Use our platforms for illegal purposes
- Attempt to gain unauthorized access to our systems
- Transmit viruses, malware, or harmful code
- Interfere with the proper functioning of our platforms
- Violate intellectual property rights
- Engage in fraudulent activities
11.3 Service Availability
- We strive to maintain platform availability but do not guarantee uninterrupted service
- We may suspend services for maintenance, upgrades, or security reasons
- We are not liable for service interruptions beyond our reasonable control
12. Communications
12.1 Methods of Communication
We may communicate with you through:
- Email
- SMS/text messages
- Phone calls
- Postal mail
- In-app notifications
- Website notices
12.2 Electronic Communications
- You consent to receive communications electronically
- Electronic communications have the same legal effect as written communications
- You must maintain a valid email address and phone number
12.3 Your Communications to Us
Communications to us should be sent to:
Apices Finance Company Limited
Address: B1, B2/B3 Innovation Plaza,
Plot 770, Chioma Ejikeme Cresent, Wuye, Abuja
Email: info@apicesfinance.com
Notice is deemed received when delivered to the above addresses.
13. Limitation of Liability
13.1 Scope of Limitation
To the fullest extent permitted by law:
- We are not liable for indirect, consequential, or punitive damages
- Our liability for any claim is limited to the amount of fees you paid in the 12 months preceding the claim
- We are not liable for losses caused by events beyond our reasonable control (force majeure)
- We are not liable for your business losses, lost profits, or lost opportunities
13.2 Exceptions
Nothing in these Terms limits our liability for:
- Fraud or fraudulent misrepresentation
- Death or personal injury caused by our negligence
- Matters that cannot be excluded or limited under Nigerian law
14. Indemnification
You agree to indemnify, defend, and hold harmless Apices Finance, its officers, directors, employees, agents, and affiliates from any claims, damages, losses, liabilities, and expenses (including legal fees) arising from:
- Your breach of these Terms
- Your violation of any law or regulation
- Your violation of third-party rights
- Your use of our services
- Information you provide to us
15. Termination
15.1 Termination by You
You may terminate your relationship with us by:
- Repaying all outstanding obligations in full
- Providing written notice
- Closing all accounts
- Returning all property belonging to us
15.2 Termination by Us
We may terminate services immediately if:
- You breach these Terms
- You engage in fraudulent or illegal activities
- Your account remains inactive for an extended period
- Required by law or regulation
- We determine continuation poses unacceptable risk
15.3 Effect of Termination
Upon termination:
- All outstanding obligations become immediately due
- You must return all property belonging to us
- Provisions that by their nature should survive will survive termination
- We may retain records as required by law
16. Force Majeure
We are not liable for failure to perform obligations due to circumstances beyond our reasonable control, including but not limited to: natural disasters, war, terrorism, civil unrest, government actions, strikes, pandemics, telecommunications failures, power outages, or other force majeure events.
17. Dispute Resolution
17.1 Negotiation
In the event of any dispute, the parties agree to first attempt resolution through good faith negotiation.
17.2 Mediation
If negotiation fails, the parties may submit the dispute to mediation before a mutually agreed mediator.
17.3 Arbitration
Any dispute not resolved through negotiation or mediation may be submitted to arbitration under the Arbitration and Conciliation Act of Nigeria. The arbitration shall be conducted in Lagos, Nigeria, with one arbitrator, and the decision shall be final and binding.
17.4 Legal Action
Alternatively, either party may commence legal proceedings in the courts of Nigeria with jurisdiction.
17.5 Regulatory Complaints
You may also lodge complaints with relevant regulatory authorities including the Central Bank of Nigeria and Consumer Protection Council.
18. Governing Law and Jurisdiction
These Terms are governed by and construed in accordance with the laws of the Federal Republic of Nigeria. The courts of Nigeria shall have exclusive jurisdiction over any disputes arising from these Terms, without prejudice to arbitration provisions.
19. Intellectual Property
19.1 Our Intellectual Property
All intellectual property rights in our platforms, content, trademarks, logos, and materials belong to Apices Finance or our licensors. You may not use, reproduce, or distribute our intellectual property without prior written consent.
19.2 Limited License
We grant you a limited, non-exclusive, non-transferable license to access and use our platforms solely for obtaining our services. This license terminates upon cessation of your relationship with us.
20. Miscellaneous Provisions
20.1 Entire Agreement
These Terms, together with our Privacy Policy and any loan agreements, constitute the entire agreement between you and Apices Finance regarding the subject matter herein.
20.2 Severability
If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
20.3 Waiver
Our failure to enforce any provision does not constitute a waiver of that provision or any other provision.
20.4 Amendment
We may amend these Terms from time to time by providing reasonable notice. Continued use of our services after such notice constitutes acceptance of the amended Terms.
20.5 Third-Party Rights
These Terms do not create rights for any third parties.
20.6 Language
These Terms are executed in English. In case of translation into other languages, the English version shall prevail.
20.7 Headings
Headings are for convenience only and do not affect interpretation.
20.8 Counterparts
Agreements may be executed in counterparts, each of which constitutes an original.
21. Complaints and Feedback
21.1 How to Complain
If you have any complaints regarding our services, please contact us at:
Customer Service Department
Apices Finance Company Limited
Email: complaints@apicesfinance.com
]
21.2 Complaint Handling
- We acknowledge complaints within 2 business days
- We investigate and respond within 15 business days
- If unsatisfied, you may escalate to our management or regulatory authorities
21.3 Feedback
We welcome feedback and suggestions for improving our services. Please contact us at feedback@apicesfinance.com.
---
22. Contact Information
Apices Finance Company Limited
Address: B1, B2/B3 Innovation Plaza,
Plot 770, Chioma Ejikeme Cresent, Wuye, Abuja
General Inquiries: info@apicesfinance.com
Customer Service: support@apicesfinance.com
Complaints: complaints@apicesfinance.com
Website: www.apicesfinance.com
Regulatory Information:
Licensed by: Central Bank of Nigeria
License Number:
23. Acknowledgment and Acceptance
By using our services, submitting an application, or signing any agreement with Apices Finance Company Limited, you acknowledge that:
- You have read and understood these Terms and Conditions in their entirety
- You have had the opportunity to seek independent legal advice
- You agree to be bound by these Terms
- You understand the risks associated with borrowing
- You have the capacity and authority to enter into binding agreements
---
Apices Finance Company Limited
...partner for financial prosperity
© 2025 Apices Finance Company Limited. All Rights Reserved.
Version 1.0 | Effective Date: December 29, 2025
