TERMS AND CONDITIONS
The terms of Service for Efx.com.ng are below listed; if you do not agree
or cannot adhere to any terms set forth below you may not access any
Efx.com.ng service. It is your responsibility to ensure that you are aware
of what is constituted within the Efx.com.ng terms of service.
This website, Efx.com.ng, is operated and controlled by Kopes Limited.
Throughout the site, the terms “we”, “us” and “our” refer to Kopes Limited,
owner of the website, this is inclusive of all information posted and
services provided to the user. By visiting our site and/or engaging in the
purchase and sale of digital currencies, or in any other ways not listed
engaging with the website, the user is binding themselves to the following
terms and conditions.
In order to use our payment and exchange services you must first open
Efx.com.ng account by registering your details on our Website. As part of
order additional services, you may be asked to accept additional terms and
If you are an individual, you must be 18 years or older to use our services
and by opening Efx.com.ng account you declare that you are 18 years or
older. This does not apply to products for which we set a different age
limit. We may require at any time that you provide evidence of your age.
By transacting on Efx.com.ng you agree that the shown prices are only
estimates, and that the actual price you will get in buying or selling will
be the effective e-currency market price plus any commissions at the time
of completion of the transaction. Listed prices are subject to change
without any notice. We shall not be liable for any changes to price.
In no event will we be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from loss of data or profits arise out of, or in
connection with, the use of this website.
Every effort is made to keep the website up and running smoothly. However,
Efx.com.ng takes no responsibility for, and will not be liable for, the
website being temporarily unavailable due to technical issues beyond our
You may only open one Efx.com.ng account unless we explicitly approve the
opening of additional accounts.
You may only open Efx.com.ng account if it is legal to do so in your
country of residence. By opening Efx.com.ng account you represent and
warrant to us that opening Efx.com.ng account does not violate any laws or
regulations applicable to you. You shall indemnify us against any losses we
incur in connection with your breach of this section.
You may only add payment instruments (such as bank accounts, credit cards
or debit cards) to your Efx.com.ng account if you are the named holder of
that payment instrument. We take any violation of this requirement very
seriously and will treat any attempt to add a payment instrument of which
you are not the named holder as a fraudulent act.
All information you provide during the signup process or any time
thereafter must be accurate and truthful.
Within 14 days of the date of opening your Efx.com.ng account, you may
close your Efx.com.ng account at no cost by contacting Customer Service;
however, if you have uploaded funds into Efx.com.ng account for
transactions not completed, you may be required to provide identification
documents before being able to get refunds. Transactions and fees for
transactions undertaken before you close your Efx.com.ng account (including
those transactions that are not revocable and have been initiated but not
completed before closure of your Efx.com.ng account will not be refunded.
Key clauses to note in this agreement:
Clause #1- Managing& Protecting
i) You are responsible for taking all reasonable steps to keep safe and not
share with anyone the personalized security details of your Efx.com.ng
account, including your email, username, passwords, login and other
security details relating to your Efx.com.ng account and including any PIN
codes or other security features of a device on which your Efx.com.ng
account is enabled.
ii) If you forget any of your registration details you should contact us
via email@example.com for instructions on how to retrieve them.
iii) The Efx.com.ng account is personal to you and only you should use it
and the associated exchange and payment services
iv). You should contact us without undue delay on becoming aware of the
loss, theft, misappropriation or unauthorized use of:
a) Your Security Details; or
. b) A device you use to access your Efx.com.ng account where your Security
Details are embedded, retained or pre-configured on that device.
v) Failure to comply with these terms may affect your ability to claim any
losses in the event that we can show that you have intentionally failed to
keep the Security Details safe or you have acted fraudulently or with gross
negligence or notified us with undue delay after becoming aware of a cause
for concern. In all other circumstances your maximum liability shall be as
set out below at clause 3.
Clause #2 - Service Limits
A Transaction may be restricted:
i) in accordance with any spending limits applied to your Efx.com.ng
account as notified to you at the point your Efx.com.ng account is opened
or if we subsequently agree a different limit;
ii) If we have reasonable grounds for concern regarding the security of
your Efx.com.ng account.
iii) In the event of suspected unauthorized or fraudulent use of your
Efx.com.ng account; or
iv) Where executing them would conflict with law or regulation.
v) For anti-money laundering and anti-fraud reasons we reserve our rights
to change particular payment restrictions (including from those published
or included herein) without notice and to the extent required to meet our
vi) A breach or violation of any of the Terms will result in an immediate
termination of your Services. We reserve the right to refuse service to
anyone for any reason at any time.
vii) We shall not be liable to you unauthorized use of the Payment and
exchange Services for any reason set out in this clause 4.
Clause #3 - Liability
i) Efx.com.ng shall not be liable for indirect or consequential loss or
damage (including without limitation loss of business, profits or
revenues), incurred in connection with this agreement or arising out of, or
in connection with, the use of this website.
ii) Incorrect or defective execution of Transactions.
a) We will be liable to you for the incorrect execution of a Transaction to
an account not provided by you for the transaction. Unless we can prove to
you and, where relevant, that the receiving account was as provided by you
when initiating the transaction.
iii) We shall not be liable:
a) For any incorrectly executed transactions or unauthorized transactions
that you notify to us with undue delay after you become aware of them, or
in any event that are notified to us more than 3 months following the debit
b) For any Transaction that is executed incorrectly, but that we executed
in accordance with the Unique Identifier provided to us by you, provided
that we shall take reasonable efforts to recover any funds involved in the
Clause #4 - Unauthorized Transactions.
i) You will be liable for any losses arising from unauthorized Transactions
where you acted:
a) With intent or gross negligence in notifying us with undue delay of any
loss, theft, misappropriation or unauthorized use of your Security Details,
including the loss of a device on which remote access to your Efx.com.ng
account is enabled;
b) Fraudulently; or
c) With intent or gross negligence in failing to use the Efx.com.ng account
in accordance with these Terms and Conditions.
d) Where you have failed to keep the Security Details safe, from the
misappropriation of your Security Details or of a device on which your
security details are retained, embedded or pre-configured.
Clause #5 Transaction Time frame
i) The maximum time for a Transaction to be executed and completed is one
Business Day after the point of receipt of a valid payment order. Where a
payment order isreceived after the relevant cut-off time, the point of
receipt shall be deemed to fall on the next Business Day. The relevant
cut-off time for Efx.com.ng payments is 12pm on a Business Day and the
relevant cut off time for Faster Payments on a Business Day is 5pm. However
if transaction cannot be completed within the frame time, we will
communicate immediately by email or phone call
ii) Business Day shall be Monday to Friday, 0900hrs to 1800hrs, excluding
bank and public holidays in Nigeria.
Clause #6 Terms and Conditions
i) We may update or amend these Terms and Conditions from time to time.
Notice of any changes will be given on the website or by notification by
e-mail or by means of mobile device at least 2 months in advance. By
continuing to use the Payment Services after the expiry of the 2 month
notice period you acknowledge that you indicate your acceptance to be bound
by the updated or amended Terms and Conditions. If you do not wish to be
bound by them, you should terminate the Terms and Conditions before the 2
ii) These Terms and Conditions and all information are originally provided
to you in English. If a document is translated into another language you
agree that this is done for your own benefit and if there are any
discrepancies between the translated version and the English language
version the text of the English language version shall prevail.
iii) At any time during the contractual relationship you shall have the
right to receive, on request, these Terms and Conditions free of charge.
iv). When you accept these Terms and Conditions, we will request certain
information so that we may identify you and can comply with all applicable
KYC and anti-money laundering requirements. We shall keep records of such
information and documents in accordance with all applicable legal and
v) Before executing a Transaction or carrying out a Payment Service, we may
at our discretion carry out various checks with a view to the avoidance of
money laundering and/or fraud.
Clause #7 Miscellaneous
i) We do not intend that any of the terms of this Agreement will be
enforceable by a person not a party to it.
ii) Any waiver or concession we may allow you will not affect our strict
rights and your obligations under this Agreement.
iii) The Customer agrees that they will not use the Payment Services in an
illegal manner and you agree to indemnify us against any claim or
proceeding brought about by such illegal use of the Payment Services.
iv) This Agreement and the documents referred to in it, constitute the
entire agreement and understanding between you and us and supersede any
previous agreement between us relating to the subject matter of this
v) Statements, notices and other communications to you may be sent to the
mail or e-mail address provided by you or by postings on the website or
other reasonable means. Statements, notices and other communications you
make to us may be made to the Efx.com.ng Customer Care Team.
vi)If any provision of this Agreement shall be found by any Court or
administrative body of competent jurisdiction to be invalid or
unenforceable, the invalidity or unenforceability of such provision shall
not affect the other provisions of this Agreement and all provisions not
affected by such invalidity or unenforceability shall remain in full force
Contact us at firstname.lastname@example.org for any concerns about the Terms of