Privacy Policy

Welcome to Penaid Limited’s privacy notice. Penaid Limited is herein referred to as “Penaid”, “we”, “our”, or “us”.  As trusted providers of financial services to pensioners and students, we take our legal obligations very seriously.  We respect your privacy hence, this privacy notice will inform you about how we look after your personal information when you visit our website and inform you of your privacy rights and ways the law protects you.  

Introduction

This notice is aimed at keeping you informed of all information that we record about you when you visit our site. It states the conditions under which we may process any information that we collect from you, or that you provide to us. It includes information that could identify you (“personal information”) and information that may not. In the context of the law and for this notice, “process” means to collect, store, transfer, use or work on information. 

We are sorry to note that if there are one or more points below with which you are not happy, your only recourse is to exit our website immediately.

We do not esteem lightly the protection of your confidentiality and privacy. We know that all visitors to our website are entitled to be assured that their data will not be used for any purpose against their wish and will not get into the hands of a third party by accident.

We agree to preserve the confidentiality of the data you provide to us and hope that you do the same.

Our policy aligns with the Nigerian law on General Data Protection Regulation (GDPR).

The law mandates that we tell you about your rights and our obligations regarding the processing and control of your data.  We also like you to know that we do not share, sell, or disclose to a third party, data collected through our website. 

 1. The data we collect from you

We are mandated by the law to process different categories of your personal information and to also notify you of the basis for each category.  If the basis on which we process your personal information is no longer valid, useful or relevant, then we shall immediately stop processing your data.  If this condition changes under the law we shall notify you of the change and of any new basis under which we have determined that we can continue to process your information. 

 2.1 The data we act on based on our contractual obligation to you

In a case where you create an account on our website, buy a product or service from us, or otherwise agree to our terms and conditions, please note that a contract is formed between you and us.  To fulfil our obligations under that contract, we must process the data you provide us with. Some of this information may be personal information. 

We may use it to: 

Verify your identity for security purposes.  Provide you with our services. 

Provide suggestions and advice on products,services and ways to obtain the most while using our website. 

This information is processed by us on the basis that there is a contract between us, or that you have requested we use the information before we enter into a legal contract. 

In addition to this, we may classify this information in a general way and use it to provide class information, for instance, to monitor our performance for a particular service we provide. 

We shall continue to process this information until the contract between us is completed or is terminated by either party under the terms of the contract.

2.2 Information we process with your consent 

We will only use your data when and where the law allows us to. Through certain actions when there is no contractual relationship between us, including when you browse our website or require us to provide you more information about our business, such as job opportunities and our products and services, you provide your consent to us to process information that may be personal. 

We intend to obtain your explicit consent to process your information where possible. For example, we will ask you to agree to our use of cookies. 

Sometimes you might give your consent consciously, for example when you reach out to us by e-mail to which you would reasonably expect us to reply. 

Until you have consented to our use of your information for a specific purpose, we cannot and do not use your information in any way that would identify you personally. We may aggregate it in a general way and use it to provide class information, for instance, to monitor the performance of a particular page on our website. 

Except you have given us full permission to do so, we may from time to time pass your name and contact information to selected associates whom we consider may provide services or products you would find useful. 

We will continue to process your data on this basis until you retrieve your consent, or it can be reasonably assumed that your consent is no longer valid, relevant or exists. 

You may withdraw your consent at any time by instructing us by sending an email to  GDPR@penaid.ng. Please note that if you do so, you may not be able to use our website or our services further. 

2.3 The data we process for legitimate interests 

We may process your data on the basis there is a legitimate interest, either to you or to us, in doing so.  In a case we process your information on this basis, we do after giving careful attention and consideration to: 

If processing (or not processing) might cause you harm.  If you would expect us to process your data, and whether you would consider it reasonable to do so. 

For instance, we may process your data on this basis for: 

Record-keeping for the proper and necessary administration of our business.  Responding to unsolicited communication from you to which we believe you would expect a response.  Protecting and asserting the legal rights of any party.  Insuring against or obtaining professional advice that is required to manage business risk.  Protecting your interests where we believe we have a duty to do so. 

2.4 The data we process based on a legal obligation 

We are subject to the law like everyone else. On some occasions, we must process your data to comply with the statutory obligation. 

For instance, we may be under the obligation to give information to legal authorities upon their request or if they possess a proper authorisation such as a search warrant or court order. 

This may include your personal information. 

3. Specific uses of information you provide to us

Information provided relating to loan applications.

When you send us data in connection with a loan application, we may store it for up to three years in case we decide to reach you at a later date. 

This data will be used only for purposes directly in connection with your loan. After your loan application and repayment process has ended, we will store your details for five years before trashing or deleting them. 

3.1 Information received on the agreement that it will be shared with a third party  

Our website gives you room to post information with a view to that information being read, copied, downloaded, or used by others.

Examples include: 

Referring to a friend. 

Sharing a message or tagging content on a website after clicking on links to a third-party website (e.g. Facebook, Linked In, Twitter, YouTube). 

Conveying agreement or disagreement by clicking on an icon next to another visitor’s message or thanks after clicking on a link to a third-party website (e.g. Facebook, LinkedIn, Twitter, Instagram). 

3.2 On complaints regarding our website

We make efforts to moderate new website content, but we are not always able to do so immediately when content is published. 

Should you complain about any content on our website, we will investigate your complaint. If we feel it is justified or we believe the law requires us to do so, we shall trash the content while we investigate. 

If we find or perceive your complaint is vexatious or without any grounds, we will not correspond with you about it. 

3.3 Information concerning payments and/or charges 

Information concerning payment or charge arrangements is never taken by us or sent to us through our website. 

We store this information on your instruction the first time you provide it to us to make repeat use of our services hassle-free. 

We also keep it to help us prevent fraud and restrict access to only authorised staff for your protection. 

3.4 Information regarding communications with our support team 

When you reach us, either by telephone, through our website or by email, we will collect the information you have given to us to reply with the details you need.

We store your request and our response to increasing the efficiency of our organisation. 

We store personally identifiable data associated with your messages, such as your name and email address to increasingly be able to track our communications with you to provide top-notch service. 

4. How we use information collected through automated systems when you visit our website

4.1 Cookies 

The term cookies mean small text files that are placed on your computer’s hard drive by your web browser when you visit any website. They allow data collected on one web page to be stored until it is needed for use on another, allowing a website to provide you with a personal experience and the website owner with data about how you use the website so that it can be improved. 

Some cookies may last for a specified time, such as one day or until you close your browser. Others last infinitely.

Your browser should allow you to delete any cookie you choose. It also should allow you to prevent or limit their use. Our website uses cookies. They are placed by software that operates on our servers, and by software operated by third parties whose services we make use of. 

The first time you visit our website, we ask you whether you wish us to use cookies. If you choose not to accept them, we will not use them for your visit except to record that you have not agreed to their use for any other purpose. 

If you choose to prevent cookies through your browser settings or not to use them at all, you will not be able to use all the functionality of our website. 

We use cookies in the following ways: 

First, to track how you make use of our website.  To take records if you have seen some messages we intentionally display on our website.  To record your answers to questionnaires and surveys on our site while you complete them 

4.2 Personal identifiers from your browsing activity 

We record requests by your web browser to our servers for web pages and other content. 

We take records of information such as your geographical location, Internet service provider and IP address. We also record information about the software you use in browsing our websites, such as the type of computer or device and the screen resolution. 

We use this data in aggregate to assess the popularity of the web pages on our website and how we are doing in the area of providing content to you. 

When combined with other information, we know about you from previous visits, the data possibly could be used to identify you personally, even if you are not logged in to our website.

4.2 Our use of re-marketing 

Remarketing simply means placing a cookie on your computer when you browse our website to serve to you an advert for our products or services when you visit some other website. 

We may use a third party to provide us with remarketing services. If you have consented to our use of cookies, you may see advertisements for our products and services on other websites.

5. Other matters

5.1 Compliance with the law 

Our privacy policy has been collated to conform with the law of every country or legal jurisdiction in which we aim to do business. If you think it fails to meet the law of your jurisdiction, we would like to hear from you. 

However, ultimately it is your decision as to whether you wish to use our website. 

5.2 Review of this privacy policy 

We may update this privacy notice from time to time as we deem fit. The terms that apply to you are those posted here on our website on the day you use our website. We advise you to print a copy for records purposes. 

If you have any questions concerning our privacy policy, please contact us.