Lovonus: Privacy Policy

By agreeing and accepting to our terms and conditions or any other terms that reference this privacy policy, you certify that you have read, “Understood, and Agree" to the collection, use, disclosure, and protection of the information you provide when using the mobile application on behalf of yourself and any organization you represent. Do not access or use the Platforms or Services if you disagree with this Privacy Policy. Our Terms and Conditions now include and integrate this Policy.

PRIVACY RIGHTS OF USERS

The rights of the User with regard to the collection, use, storage, sharing, and protection of their personal data on the mobile application and in relation to the Services are outlined in this Policy.

The Platform's access security procedures will treat any information that a User creates, such as a Username, Password, BVN and NIN, as confidential. And won't be revealed to any outside parties.  If Lovonus Microfinance Bank suspects a fraudulent transaction, Anti-money laundering or a bogus login password, it has the power to revoke any user-chosen username or password.

Kindly alert Lovonus microfinance bank at the address below as soon as possible if a user knows or suspects that someone else knows their security data:

LOVONUS MICROFINANCE BANK LIMITED

IT Data Protection Officer

Iddo Ultra Modern Shopping Complex

Iddo, Ottoway, Lagos, Nigeria,

info@LovonusMfb.com

You declare and accept that you have thoroughly read and comprehended the terms of use and privacy policy by using our mobile application (the "Lovonus Mobile APP").

Your rights in relation to Your Personal Data are as follows:

(I) The right to have access to Your Personal Data

(II) The right to be informed about the processing of Your Personal Data;

(III) The right to rectify any inaccurate Personal Data or any information about provided

(IV) The right to review modifies or erases Your Personal Data and any other information we have about you;

 (V) The right to lodge a complaint to a supervisory authority within Nigeria.

USERS’ PERSONAL INFORMATION

Lovonus collects and use any information you supply when you interact with the mobile app, you share personal details like your name, Bank Verification Number, Valid Identification, address and picture. By using the mobile app to transact, you also share details of your transactions with us. Additionally, we may request explicit permission to see other information like your address book, location, photos and data from your camera.

· Details you give when you sign up on the Mobile App, like your BVN, name, date of birth, gender, phone number, residential address, and email address.

· Images would also be collected for the purpose of KYC and other features like adding your profile picture.

· Information you give us through the in-app chat so we can help you.

· We shall also access your contact list information to enable you to perform certain functions like sending airtime and data to a person on your contact list.

· We may collect internet protocol (IP) address, browser type, device ID, internet service provider (ISP), information about your computer and software, links materials You request, your approximate location, referring/exit pages, date/time stamp, and other metadata. Platforms may embed Javascript code into page loads, which instructs Users’ web browsers to make web requests back to our servers to collect information about the User page views and other activities.

· We also use persistent cookies to collect, store and track information. The Platform uses persistent cookies to store the User’s login ID (but not the User’s password) to make it easier for the User to login when the User returns to the Application. We encode our cookies so that only us can interpret the information stored in them.

GOVERNING PRINCIPLES

Lovonus will always comply with the principles outlined below for the purpose of collecting, storing and using a User’s personal information.

· Data shall be collected and processed with a specific, legitimate and lawful purpose which shall be consented to by the User before collection and processing;

· Data collection and processing shall be adequate, accurate and with consideration for the dignity of the human person;

· Data shall only be stored for the period which is reasonably needed and as required by the relevant and applicable laws; and 

· Data shall be secured against all foreseeable hazards and breaches such as theft, cyber attack, viral attack, dissemination, and manipulations of any kind.

The lawful basis we rely on for processing your Personal Information are:

· Your consent: where you agree to us collecting your Personal Information by using our Services.

· We have a contractual obligation: Without your Personal Information, we cannot provide our Services to you.

Lovonus also has a legal obligation to ensure full compliance with all Anti-Money Laundering and Counter-Terrorist Financing Laws. Lovonus protects against fraud by checking your identity with your Personal Information.

SHARING AND PROTECTION OF USERS’ PERSONAL INFORMATION TO THIRD PARTIES

Lovonus provides such information to our subsidiaries, affiliated companies or other trusted third-party service providers or persons for the purpose of processing personal information on our behalf, including validating user credentials, securing data storage, marketing, customer service, fraud detection and other applicable services. Lovonus requires that these parties agree to process such information based on our instructions and in compliance with this Privacy Policy and any other appropriate confidentiality and security measures we consider essential and relevant subject to applicable law. Lovonus requires that these third-parties providers use PII and PID only in connection with the services they perform for Lovonus.

Lovonus may share User information with law enforcement agencies, government officials, or other third parties in the event of a court order or similar legal procedure, regulatory disclosure or when Lovonus believes in good faith that the disclosure of User information is necessary or advisable to report suspected illegal activity or to protect Lovonus property or legal rights.

Except as expressly disclosed in this Privacy policy, Lovonus will not sell or disclose User information to third parties. Lovonus may disclose aggregated or other types of non-personally identifiable information to third parties for various purposes.

SECURITY OF USERS’ PERSONAL INFORMATION

Lovonus has implemented physical, technical, and procedural safeguards to protect User information from unauthorized access, disclosure, alteration, or destruction. Lovonus uses computer safeguards such as firewalls and data encryption and authorizes access to personally identifiable information only for those employees, contractors, and agents who require it to fill their job responsibilities.

Lovonus utilizes a higher duty of care to protect User information, such as credit card or bank account numbers, if disclosure of a particular type of User information could cause direct financial loss; Lovonus further encrypts such information and transmits it under Secure Socket Layer (SSL).

Lovonus shall only retain personal information reasonably required to keep providing Services to you. Where we no longer provide services to you, your information will be stored on our servers to the extent necessary to comply with regulatory obligations and for the purpose of fraud monitoring, detection and prevention. Where we retain your Personal Information, we do so in compliance with limitation periods under the applicable law.

LOCATION

All Personal Information you provide to us is stored on our secure servers as well as secure physical locations and cloud infrastructure for the purposes of providing seamless services to you, including but not limited to ensuring business continuity, the data that we collect from you may be transferred to or stored in cloud locations at globally accepted vendors’ data centre. Whenever your information is transferred to other locations, we will take all necessary steps to ensure that your data is handled securely and in accordance with this privacy policy.

DATA CONFIDENTIALITY RIGHTS

REPORTING A PERSONAL DATA BREACH

Lovonus is required to comply with the Nigeria Data Protection Regulation 2019 (“NDPR”) and other relevant laws and regulations regarding reporting requirements in relation to data breaches and report any personal data breach where there is a risk to the rights and freedoms of a User. Where a personal data breach results in a high risk to a User, such a User also has to be notified unless subsequent steps have been taken to ensure that the risk is unlikely to materialize, security measures were applied to render the personal data unintelligible (e.g. encryption) or it would amount to disproportionate effort to inform the User directly. In the latter circumstances, a public communication must be made, or an equally effective alternative measure must be adopted to inform such a User, so that he/she can take any necessary remedial action.

CHANGES TO THIS POLICY

We may amend this Privacy Policy at any time by posting a revised version on this page. The revised version will be effective at the time we post it unless we provide additional notice or an opportunity to “opt-in” because changes are material or retroactive. If you keep using our Services, you consent to all amendments to this Privacy Policy.

You always be updated for any changes in our policy from our Data Protection Officer.

GOVERNING LAW

This Policy is made according to the provisions of NDPR and any other relevant Nigerian laws, regulations or international conventions applicable to Nigeria. 

April 2024