Terms Of Use

1. Defined Meanings

1.1 In these Terms, unless the context requires otherwise:

1. “Company”, “we”, “our”, or “us” means Obiex Africa, its affiliates, and subsidiaries.
2. “Services” means the digital asset services, fiat services, and related offerings made available through our platform.
3. “User”, “you”, or “your” means the individual or legal entity using the Services, as the context requires.
4. “Virtual Assets” means cryptocurrencies, tokens, or other digital representations of value accepted on our platform.
5. “AML” means anti-money laundering; “CFT” means counter-terrorism financing.

2. Incorporation of Terms

2.1 These Terms are supplemented by and incorporate by reference our Privacy Policy, AML/CFT Policy, and any other notices, guidelines, or policies issued by us from time to time.

3. Services

3.1 We provide Services that may include buying, selling, exchanging, and transferring Virtual Assets, fiat currency processing, and related custodial or transactional services.

3.2 We reserve the right to modify, suspend, or discontinue any Service at our sole discretion without liability to you.

4. Account Registration

4.1 To access the Services, you must register an account and provide accurate, complete, and current information.

4.2 You are responsible for safeguarding your login credentials. Any activity conducted under your account shall be deemed authorised by you.

5. Access and Security

5.1 You agree not to circumvent, disable, or otherwise interfere with the security or integrity of the Services.

5.2 We may restrict access to the Services if we suspect unauthorised use, fraud, or breach of these Terms.

6. Eligibility

6.1 Use of the Services is limited to:

1. natural persons who are at least eighteen (18) years old, have full legal capacity, and are not subject to any legal or regulatory restrictions on the use of virtual asset services; and
2. (b) legal entities that are duly incorporated, validly existing, and in good standing under the laws of their jurisdiction, acting through duly authorised representatives.

6.2 You represent and warrant that you are not a resident, national, or agent of, and will not access or use the Services from, any jurisdiction or person subject to trade, economic, or financial sanctions administered by the United Nations, European Union, United States, United Kingdom, or any other competent authority.

7. Know Your Customer (KYC) and Verification

7.1. As a condition of accessing or continuing to use the Services, you agree to provide such information, documentation, and evidence as we may reasonably request to verify your identity, assess risk, and comply with our legal and regulatory obligations.

7.2 For individual users, verification may include, without limitation:

1. a valid government-issued identification document (e.g., National Identification Number card, international passport, driver’s licence);
2. proof of residential address (e.g., utility bill, bank statement, government correspondence); and
3. any additional information we may request, such as source of income, source of funds, or occupation details.

7.3 For legal entity users, verification may include, without limitation:

1. certificate of incorporation and constitutional documents;
2. details of directors, beneficial owners, and authorised signatories;
3. proof of registered or business address; and
4. any additional corporate or financial information reasonably required by us.

7.4. You agree that failure to provide accurate, complete, and up-to-date information, or failure to pass our verification checks, may result in refusal of access to the Services or immediate suspension in accordance with Section 12.

7.5. Where you are a legal entity that provides services to end-users through or in connection with our Services, you shall:

1. conduct appropriate KYC and due diligence checks on your customers in accordance with standards that are no less stringent than our own and in compliance with applicable laws;
2. maintain accurate, complete, and up-to-date records of such customer information;
3. upon our reasonable request, promptly provide us with copies of such KYC information, transaction details, or related documentation for compliance or regulatory purposes; and
4. accept full responsibility for the legality, accuracy, and completeness of any such customer information shared with us.

8. User Obligations

8.1 You must use the Services in accordance with applicable laws and these Terms.

8.2 You are solely responsible for the accuracy of information you provide and for all activities under your account.

9. Prohibited Activities

9.1 You shall not use the Services to:

1. engage in fraud, money laundering, terrorist financing, or any unlawful activity;
2. transmit harmful code, interfere with the Services, or attempt unauthorised access;
3. disguise or misrepresent the source of funds or transactions; or
4. breach any applicable sanctions laws.

10. Transactions

10.1 All transactions are final once recorded on the applicable blockchain or processed through our fiat channels, except as required by law or our internal policies.

10.2 We may delay, reverse, or refuse to process a transaction if we reasonably believe it is suspicious, fraudulent, or in breach of these Terms.

11. Fees and Charges

11.1 You agree to pay all applicable fees as published on our platform.

11.2 Fees may be amended at our discretion upon prior notice.

12. Intellectual Property

12.1 All intellectual property in the Services, including software, designs, logos, and trademarks, are owned by or licensed to us.

12.2 You are granted a limited, non-exclusive, non-transferable licence to use the Services solely for lawful purposes.

13. Suspension, Restriction, and Termination

13.1 We may suspend, restrict, or terminate your account or access to the Services if you:

1. breach these Terms;
2. fail to satisfy our KYC/AML requirements;
3. engage in prohibited activities; or
4. create legal, regulatory, or reputational risk for us.

13.2 We may hold or freeze your funds or transactions during investigations or compliance reviews. We will endeavour to resolve such matters promptly, but no specific timeframes are guaranteed.

14. Risk Disclosure

14.1 You acknowledge that Virtual Assets are volatile and subject to regulatory, technological, and market risks.

14.2 You accept sole responsibility for evaluating these risks before using the Services.

15. Limitation of Liability

15.1 To the maximum extent permitted by law, we shall not be liable for indirect, incidental, or consequential losses arising from your use of the Services.

15.2 Nothing in these Terms excludes liability for fraud, wilful misconduct, or gross negligence.

16. Indemnification

16.1 You agree to indemnify and hold us harmless against any claims, damages, liabilities, or expenses arising from your breach of these Terms or misuse of the Services.

17. Governing Law and Dispute Resolution

17.1 These Terms shall be governed by and construed in accordance with the laws of Nigeria.

17.2 Any dispute shall be resolved through arbitration in Lagos, Nigeria, under the Arbitration and Conciliation Act, with proceedings conducted in English.

18. Amendments

18.1 We may amend these Terms at any time by posting updated Terms on our platform. Continued use of the Services constitutes acceptance of the amendments.

19. Notices

19.1 Notices will be provided by email or through in-platform notifications.

19.2 Notices sent electronically are deemed received on the day of transmission.

20. Miscellaneous

20.1 If any provision of these Terms is held invalid, the remaining provisions shall remain enforceable.

20.2 Our failure to enforce any right shall not constitute a waiver.

20.3 These Terms constitute the entire agreement between you and us regarding the Services.