Contents
1. Information We Collect
Information you provide directly
- Full name, date of birth, gender and nationality
- Bank Verification Number (BVN) and National Identification Number (NIN)
- Phone number, email address and residential address
- Employment details, employer name and salary information
- Next of kin information
- Account and transaction data
Information we collect automatically
- USSD session data when you dial *367*626#
- Device information, IP address and browser type when using our website or app
- Location data (only when you grant permission in the app)
- Transaction history including amounts, dates and counterparties
Information from third parties
- Credit bureau data to assess loan eligibility
- BVN validation data from the Nigeria Inter-Bank Settlement System (NIBSS)
- Payroll verification from LGA payroll offices for civil servant products
2. How We Use Your Information
We use your personal data to:
- Open and manage your account and verify your identity as required by CBN KYC guidelines
- Process loan applications and determine creditworthiness
- Process transactions including transfers, repayments and deposits
- Communicate with you about your account, transactions and products
- Comply with legal obligations under Nigerian banking laws, the NDPA and anti-money laundering (AML) regulations
- Prevent fraud and protect the security of our systems and customers
- Improve our products and services through anonymised analytics
- Send you marketing communications about products you may find relevant (you can opt out at any time)
3. How We Share Your Information
We do not sell your personal data. We may share your data with:
- Central Bank of Nigeria (CBN) and other regulators as required by law
- Credit bureaus to report repayment history as required under CBN credit reporting guidelines
- NIBSS and interbank partners to process transactions
- Verified service providers who help us operate our platform (subject to strict data processing agreements)
- LGA payroll offices strictly for civil servant credit verification
- Law enforcement agencies when legally required to do so
All third parties who receive your data are contractually bound to protect it and may only use it for the specific purpose for which it was shared.
4. Data Retention
We retain your personal data for as long as your account is active and for a minimum of 7 years after account closure, as required by CBN and FIRS regulations. Credit bureau data is retained per the terms of applicable credit reporting guidelines.
You may request deletion of your data at any time. However, we may be legally required to retain certain records regardless of your request.
5. Your Rights
Under the Nigeria Data Protection Act 2023, you have the right to:
- Access the personal data we hold about you
- Correct inaccurate or incomplete data
- Delete your data (subject to legal retention requirements)
- Object to processing for marketing purposes
- Data portability — request a copy of your data in a readable format
- Withdraw consent where processing is based on your consent
- Lodge a complaint with the Nigeria Data Protection Commission (NDPC)
To exercise any of these rights, email privacy@magajingari.com or visit any of our agent locations.
6. Data Security
We implement industry-standard technical and organisational measures to protect your personal data, including:
- Encryption of data in transit and at rest
- Secure USSD sessions that do not expose your PIN to third parties
- Multi-factor authentication for account access
- Regular security audits and penetration testing
- Staff training on data protection and information security
Despite these measures, no system is 100% secure. If you suspect unauthorised access to your account, contact us immediately or dial *367*626# to freeze your account.
7. Cookies and Tracking
Our website uses cookies to improve your browsing experience and analyse site usage. Please see our Cookie Policy for full details on the types of cookies we use and how to manage your preferences.
8. Children's Privacy
Our banking services are intended for individuals aged 18 and above. We do not knowingly collect personal data from children under 18. If you believe we have inadvertently collected data from a minor, please contact us immediately and we will delete it promptly.
9. Changes to This Policy
We may update this Privacy Policy from time to time to reflect changes in our practices or applicable laws. We will notify you of material changes via SMS, email or a notice on our website. Continued use of our services after notification constitutes acceptance of the updated policy.
10. Contact Us
If you have any questions or concerns about this Privacy Policy or how we handle your data, please contact our Data Protection Officer:
- Email: privacy@magajingari.com
- Phone: +234 801 234 5678
- Address: Magajin-Gari Microfinance Bank Limited, Ilorin, Kwara State, Nigeria
You may also lodge a complaint with the Nigeria Data Protection Commission (NDPC) at ndpc.gov.ng.