Terms And Conditions
A. Please carefully read and understand these Terms and Conditions (“T&Cs”) and any amendments made thereto from time to time by NEWEDGE FINANCE LIMITED (“NFL”) before accessing the App or making use of any of the Services.

B. By accessing the App or requesting / using any of the Services, you agree to be bound by the T&Cs below.

C. These T&Cs, together with our Privacy Policy (as defined below) set out the complete terms and conditions which shall be applicable to your use of the App and access to any of the Services.

D. These T&Cs are subject to change without notice, from time to time in our sole discretion and your continued use of the App and the Services constitutes your agreement to be bound by the terms of any such amendment or variation. All amendments and variations to these T&Cs shall be posted on the App.

E. These T&Cs and any amendments or variations made thereto shall take effect on their date of publication. You are responsible for being familiar with the current version of the T&Cs posted on the App each time you access the App.

F. The use of the App may be monitored, tracked and recorded. Anyone using this App expressly consents to such monitoring, tracking and recording.

G. If you do not agree with these T&Cs or any portion thereof, please do not use this App or any of the Services.

H. You shall be deemed to have agreed and accepted these T&Cs once you click the “Sign-up” button immediately below these T&Cs. If you do not agree with these T&Cs, please do not click the “Sign Up” button on the App. Please note that you will not be able to access the Services if you decline the T&Cs.

For the purposes of these T&Cs and the preamble above, unless the context requires otherwise:

“App” means the Palmcredit mobile application owned and operated by NFL.

“Credentials” means your personal credentials used to access the App, including but not limited to your username, password and personal identification number (“PIN”).

“GPS” means Global Positioning System.

“Privacy Policy” means the NFL privacy policy that sets out the basis on which any personal data we collect from you, or that you provide to us, will be used by us.

“Services” means any form of financial services or products that NFL may offer you via the App and which you may from time to time subscribe to.

“Service Provider” means your financial institution, credit bureaus, mobile network operators and any other information bank available to NFL in Nigeria. The term may be construed to mean any or all of the above entities, as the context may require.

“SMS” means Short Messaging Service.

“Transaction Fees” includes any fees and charges payable for the use of any of our Services as published by NFL on the App or by such other means as NFL shall in its sole discretion determine.

“Third-Party Service Providers” means any entities provide NFL support for our Services, including, for example, website and application development, hosting, maintenance, backup, storage, virtual infrastructure, payment processing, analysis, identity verification, background and compliance reviews, fund administration, banking services, and other services for us, which may require them to access or use your Personal Information and Relevant Information.

“NFL”, “we” or “us” means NEWEDGE FINANCE LIMITED.

“You” or “User” means the person that intends to access the App, request for and receive the Services.
2.1 This App is owned and operated by NFL. NFL is a private limited liability company incorporated under the Laws of the Federal Republic of Nigeria.

2.2 Subject to you agreeing to abide by these T&Cs, we hereby grant you a revocable, non-transferable, non-exclusive licence to use the App and the Services. Except as expressly stated in these T&Cs, the App and the Services are for your personal and non-commercial use. We reserve all other rights. The App, or any portion of the App, may not be reproduced, duplicated, copied, modified, sold, resold, or distributed without our express written consent.

2.3 Except as expressly stated in these T&Cs, we do not grant you any rights in or to our intellectual property or that of any other party in the App. The licence granted in this section is subject to your compliance with these T&Cs. In the event that you breach any provision of these T&Cs, your rights under this section shall immediately terminate.

2.4 The works of authorship contained in this App, including but not limited to all design, text, sound recordings, and images, are owned, except as otherwise expressly stated, by NFL or one of its affiliates.

3.1 You shall not engage in any activities related to this App that are contrary to applicable law, regulation or the terms of any agreements you have with us.

3.2 In circumstances where locations of this App require identification for access, you shall establish commercially reasonable security procedures and controls to limit access to your password, PIN or other identifying information to authorised individuals.

3.3 You shall not use the App or any of the Services in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with these T&Cs, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the App, any Service or any related operating system.

3.4 You shall not infringe on NFL’s intellectual property rights or those of any third party in relation to your use of the App or any Service, including the submission of any material (to the extent that such use is not licensed by these T&Cs).

3.5 You shall not transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the App or any Service.

3.6 You shall not use the App or any Service in a way that could damage, disable, overburden, impair or compromise NFL’s systems or security or interfere with other users.

3.7 You shall not use any automatic device or manual process to access our Services or to monitor or copy our web pages, data or the content contained in this App or for any other unauthorised purpose without our prior expressed written permission.
4.1 The App and the Services offered by NFL can only be utilised by persons over the age of 18 and only for the purpose of accessing our Services.

4.2 The materials and information posted on the App may be printed for your use, provided, however, that they may not be duplicated, copied, re-disseminated or re-distributed to any other person or entity. Re-dissemination and re-distribution include without limitation, making any such materials and information available via the internet or via any other electronic means of access.

4.3 The information on the App, including research, is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation.

4.4 NFL reserves the right to decline your request for any of the Services or to revoke the same at any stage at NFL’s sole and absolute discretion and without providing any reason or giving any notice thereto.

4.5 NFL reserves the right (in its sole and absolute discretion) to provide, refuse to provide any of the Services and/or vary the terms of the provision of any Service depending on its assessment of your credit profile from time to time.

4.6 You agree to and shall release from and indemnify NFL against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to NFL having acted (or failing to act) in accordance with the whole or any part of any of your requests for a Service.

4.7 You shall not at any time operate or use the App or any of the Services in any manner that may be prejudicial to NFL.

4.8 You are strictly prohibited from unauthorised use of our systems or this App, including but not limited to unauthorised entry into our systems, misuse of passwords, or misuse of any information posted to this App.
NFL shall be entitled to set and charge Transaction Fees, in connection with your use of any of our Services and from time to time amend or vary its Transaction Fees for the Services. If NFL decides to charge Transaction Fees or where already applicable, vary or amend its Transaction Fees, the Transaction Fees payable on any new request for any of the Services shall be displayed on the App. NFL shall use reasonable endeavors to notify you of any changes in relation to Transaction Fees within a reasonable period before such changes are implemented.
6.1 You hereby agree and authorise NFL to conduct background checks and verify personal information provided by you on the App or in connection with your use of any of the Services against the information held about you by any relevant Service Provider.

6.2 The information that NFL may verify against the information held by the Service Providers includes (without limitation): your phone number, name, date of birth, Identification Number (“ID”) or Passport Number and such other information that will enable NFL to identify you (the “Personal Information”). You must provide complete and accurate information as part of the registration and service process.

6.3 You hereby agree and authorise NFL to access and verify information on your device including, but not limited to, data relating to your phone (including, without limitation, your phone’s history), your device identification, the GPS on your device, your application list, your contact list(NFL has right to alarm contacts to declare the loan if you are late with your payment), your call history, your SMS history and such other information as NFL shall require for purposes of providing you with the Services (the “Relevant Information”).

6.4 You hereby consent to NFL obtaining and verifying the Personal Information and the Relevant Information with the Service Providers and using the Personal Information and the Relevant Information to the extent necessary to provide the services or to enhance your experience on the App.

6.5 You hereby agree and authorise NFL to obtain and procure your Personal Information and Relevant Information from the relevant Service Provider and you further agree and consent to the disclosure and provision of such Personal Information and Relevant Information by the Service Provider.

6.6 You further agree to indemnify and hold NFL and the Service Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.

6.7 You hereby agree and authorize NFL to send promotional information and materials from time to time, either by mail to your contact address, email, SMS, Whatsapp or Facebook. This authorization shall survive during the term of the service and after termination of the service for any reason.

6.8 NFL may use third-party services to help understand use of the Services (“Third-Party Service Providers”). You hereby agree and authorise NFL to share your Personal Information and Relevant Information to the relevant Third-party Service Provider. They receive this information and their use of it is governed by their respective privacy policies.

If you request that we remove your Personal Data, we will convey that request to any third-party with whom we have shared your data. We are not, however, responsible for revising or removing your Personal Data obtained by any third party who has previously been provided your information by us in accordance with this policy or any third party to whom you have provided such information (whether by sharing your login and password, or otherwise).

6.9 NFL reserves the right to request for further information from you pertaining to your use of the App and request for any of the Services at any time. Failure to provide such information within the time required by NFL may result in NFL declining to provide you with the relevant Service.

6.10 You hereby authorize NFL to access and query your credit information from any of the licensed credit bureaus and to receive credit reports/scores from any of the licensed credit bureaus on behalf of you in order to assess your credit worthiness, wherever and whenever you apply for a new Service and during the persistence of such Service in order to assist NFL to accomplish its objectives and to enforce its rights under this agreement. You further consent to your credit information being shared with the licensed credit reference bureaus. This consent shall not be withdrawn during the period in which your application is pending to or You have an outstanding balance with NFL. This consent shall automatically terminate upon clearance of all existing loans by You to NFL and as long as You have no outstanding facilities with NFL.

NFL reserves the right to supply consumer credit information and information about you to credit bureaus. You acknowledge that information on your non-compliance with these T&Cs may be transferred to credit bureaus; and the credit bureaus may provide NFL with a credit profile and credit scores based on your creditworthiness.
7.1 You shall be responsible for obtaining and maintaining all telephone, computer hardware, software, and other equipment needed to access and use this App and receive the Services (the “Devices”).

7.2 You shall be responsible for ensuring the proper performance of your Devices. NFL shall neither be responsible for any errors or failures caused by any malfunction of your Devices, nor shall NFL be responsible for any computer virus or related problems that may be associated with the use of the App, the Services and your Devices.

7.3 You shall follow all instructions, procedures and terms contained in these T&Cs and any document provided by NFL concerning the use of the App and the Services.

7.4 You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Devices and for keeping your Credentials secret and secure. You shall ensure that your Credentials do not become known or come into possession of any unauthorised person. NFL shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold NFL harmless from any losses resulting from any disclosure of your Credentials.

7.5 You shall take all reasonable precautions to detect any unauthorised use of the App and the Services. To that end, you shall ensure that all communications from NFL are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorised use of and access to the App will be detected. You shall immediately inform NFL in the event that:

(a) you have reason to believe that your Credentials are or may be known to any person not authorised to know the same and/or have been compromised;

(b) you have reason to believe that unauthorised use of the Services has or may have occurred or could occur and a transaction may have been fraudulently initiated or compromised.

7.6 You shall at all times follow the security procedures notified to you by NFL from time to time or such other procedures as may be applicable to the use of the App and the Services from time to time. In particular, you shall ensure that the Services are not used by anyone other than a person authorised to do so.
8.1 NFL may at any time, upon notice to you, terminate or vary your use of the App and access to any of the Services and, in particular, but without prejudice to the generality of the foregoing, NFL may cancel credits which it has granted to you and require the repayment of any outstanding debts resulting from the grant of such credit within such time as NFL may determine.

8.2 Without prejudice to NFL’s rights under clause 8.1 above, NFL may, at its sole discretion, suspend your use of the App or any of the Services:

(a) if you use the App or any of the Services for unauthorised purposes or where NFL detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the App and the Services;

(b) if NFL is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;

(c) if NFL reasonably suspects or believes that you are in breach of these T&Cs which you fail to remedy (if capable of being remedied) within 48 hours after the service of notice by email, SMS or other electronic means requiring you to do so;

(d) where such a suspension is necessary as a consequence of technical problems or for reasons of safety; to facilitate an update or upgrade to the contents or functionality of the Services or the App from time to time;

(e) if NFL decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.

8.3 Termination shall not affect any accrued rights and liabilities of either party.
9.1 Access to this App or the Services may from time to time be unavailable, delayed, limited or slowed due to, among other things:

(a) hardware failure, including among other things, failures of computers (including your own computer), servers, networks, telecommunication lines and connections, and other electronic and mechanical equipment;

(b) software failure, including among other things, bugs, errors, viruses, configuration problems, incompatibility of systems, utilities or applications, the operation of firewalls or screening programs, unreadable codes, or irregularities within particular documents or other content;

(c) overload of system capacities;

(d) damage caused by severe weather, earthquakes, wars, insurrection, riots, terrorism, civil commotion, act of God, accident, fire, water damage, explosion, mechanical breakdown or natural disasters;

(e) interruption (whether partial or total) of power supply or other utility of service;

(f) strike or other stoppage (whether partial or total) of labour;

(g) governmental or regulatory restrictions, exchange rulings, court or tribunal orders or other human intervention;

(h) failure of any public or private telecommunications system;

(i) any other cause (whether similar or dissimilar to any of the foregoing) whatsoever beyond our control.

9.2 If access to this App or any of our Services is unavailable, delayed or limited, or if this App does not operate quickly and efficiently, you may be unable to transmit your instructions relating to any of the Services, or such instructions may not be promptly executed or you may be unable to retrieve information on a timely basis. While NFL will aim to minimise service interruptions, NFL shall not be liable for any such loss or damages incurred due to any interruption or disruption to the provision of the Services or your access to the App.
10.1 The App (including all information and materials contained on the App) is provided on an "as is" basis.

10.2 We may discontinue or make changes to the information, products or services described on the App at any time without prior notice to you and without any liability to you. We do not undertake any obligation or responsibility to update or amend any information on this App. We reserve the right to terminate any or all products or services offered on the App without prior notice to you. Where there are changes to any Service which may affect you, we will notify you of such changes using the inbuilt messaging platform on the App.

10.3 NFL shall not be liable for any delay, difficulty in use, computer viruses, malicious code or other defect in this App, any incompatibility between the App and the User's files and the User's browser or other site accessing program, or any other problems experienced by the User due to causes beyond our control.

10.4 NFL does not warrant the accuracy, adequacy, or completeness of the information and materials contained on the App and expressly disclaims liability for errors or omissions in such materials and information.

10.5 NFL only provides the Services for individual use, and small and medium business financing needs, and we shall not be liable to you for any loss of profit, loss of business, business interruption, or loss of business opportunity as a result of your unauthorised use of the Services.

10.6 NFL shall not be liable for any losses or damage suffered by you as a result of or in connection with:

(a) any fraudulent or illegal use of the Services, the App and your Devices;

(b) your failure to comply with these T&Cs and any document or information provided by NFL concerning the use of the App and the Services.

10.7 If for any reason other than a reason mentioned in clause 9.1, the Services are interfered with or unavailable, NFL’s sole liability under these T&Cs shall be to re-establish the Services as soon as reasonably practicable.

10.8 Save as provided in clause 10.7 above, NFL shall not be liable to you for any interference with or unavailability of the App or the Services, howsoever caused.

10.9 Under no circumstances shall NFL be liable to you for any loss of profit, opportunity or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the use of, inability to use, or disruption to the App or any portion thereof; or the provision of the Services.
11.1 If you wish to contact NFL in writing, or if any condition in these T&Cs requires you to give notice to NFL, you can send this to us by e-mail to or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.

11.2 If we have to contact you or give you notice in writing, we will do so by posting such notice on our App; or by e-mail or SMS to the mobile phone number or e-mail address you provide to us when you register on the App.
12.1 No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by these T&Cs or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.

12.2 If any provision or part of a provision of these T&Cs shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of these T&Cs, all of which shall remain in full force and effect.

12.3 You acknowledge that in accepting these T&Cs, you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these T&Cs or our Privacy Policy.

12.4 You hereby agree that we may assign, transfer, sub-contract or otherwise deal with our rights and/or obligations under these T&Cs. You may not, without our prior written consent, assign, transfer, sub-contract or otherwise deal with any of your rights and/or obligations under these T&Cs.
13.1 Disputes

NFL and the User shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with these T&Cs or the use of the App.

13.2 Arbitration

13.2.1 Subject to the provision of clause 13.1 above, any dispute, difference or question whatsoever and howsoever arising out of or in connection with these T&Cs, save as specifically provided herein, shall be referred for final determination to arbitration in accordance with the Arbitration and Conciliation Act Cap A18 Laws of the Federation of Nigeria, 2004 for the time being in force, or any statutory re-enactment or modification thereof.

13.2.2 The Arbitral tribunal shall comprise one (1) arbitrator to be appointed jointly by the Parties failing which the arbitrator shall be appointed by the Chairman for the time being, of the Chartered Institute of Arbitrators UK (Nigeria Branch).

13.2.3 Such arbitration shall take place in Nigeria; and to the extent permissible by law the determination of the arbitrator shall be final and binding upon the parties and shall not be subject to any appeal.

13.2.4 Nothing in this clause 14.2 shall restrict either party’s freedom to commence legal proceedings of any nature for the purposes of seeking preliminary injunctive relief or interim or conservatory measures from any court of competent jurisdiction pending the final decision or award of any arbitrator.
These T&Cs shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
15.1 NFL shall only use your personal information in accordance with our Privacy Policy. Please take the time to read our Privacy Policy, as it includes important terms which apply to you.

15.2 Upon clicking the “Sign Up” button below, you will be deemed to have accepted both these NFL’s T&Cs & Privacy Policy.