Roja App · Legal & Governance

Terms of Use

This Terms of Use Agreement (“Agreement”) governs your access to and use of the Roja mobile application and related services (collectively, the “Platform”) operated by Roja Technologies Incorporated (EIN 38-4363777), 447 Broadway St, 2nd Floor Suite 3062, New York NY 10013, operating in Nigeria as Roja Technologies Limited (RC 8656145), 3 Carlton Court, Abuja, FCT, Nigeria (collectively referred to as “Roja,” “we,” “our,” or “us”).

By accessing or using the Platform, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use. If you do not agree, you must discontinue use of the Platform.

P2P Credit AgreementRegulated Escrow & Insurance ProtectionRC 8656145 · EIN 38-4363777

Definitions

• Lender: A registered user who provides funds to borrowers through the Roja Platform.

• Borrower: A registered user who obtains funds through peer-to-peer (P2P) transactions on the Platform.

• Escrow Bank: A licensed Nigerian deposit money bank responsible for holding and disbursing funds in escrow.

• Insurance Provider: An authorized insurance service provider offering credit protection coverage.

• Direct Debit: A debit authorization initiated by Roja through an authorized financial institution to facilitate automated loan repayments.

Eligibility and Registration

To use Roja, you must:

1. Be at least 18 years old and have full legal capacity.
2. Be a Nigerian resident with a valid BVN, NIN, and active bank account.
3. Complete Know-Your-Customer (KYC) verification, including facial recognition and identity validation.
4. Agree to provide accurate and complete information during registration.

Roja reserves the right to suspend or terminate any account found to contain false, incomplete, or misleading information.

Service Description

Roja provides a P2P lending platform that connects lenders and borrowers. Roja does not operate as a bank or deposit-taking institution. All monetary transactions are executed through regulated financial institutions and managed in escrow accounts.

Borrowers agree to pay service fees and lenders agree to applicable commissions as specified in the Platform. Roja facilitates these payments through automated settlement processes.

Roja does not operate as a bank or deposit-taking institution. All funds are secured in regulated escrow facilities.

User Obligations

Users agree to:

1. Use the Platform only for lawful and personal financial purposes.
2. Maintain the confidentiality of login credentials.
3. Notify Roja immediately of unauthorized account activity.
4. Refrain from engaging in fraudulent, abusive, or misleading behavior.

Loan and Repayment Terms

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Borrowers are responsible for timely repayment of all loans according to the schedule specified in their agreement.

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Lenders acknowledge that all disbursements and repayments occur via escrow.

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Roja’s service fee (4% of principal) shall be collected as part of the borrower’s first repayment installment.

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Lenders’ commissions (10% of rewards) shall be deducted automatically upon repayment.

Insurance Coverage

Each loan transaction includes a mandatory insurance premium (minimum of 1.4% of principal) payable by the lender. This premium is transferred directly to an authorized insurance service provider during disbursement. Insurance coverage applies only under verified borrower default conditions as defined by the insurer’s policy.

Data Collection and KYC Compliance

Users authorize Roja to collect and process personal and biometric information (including facial images, BVN, NIN, and bank statements) for identification, fraud prevention, and compliance with Central Bank of Nigeria (CBN) regulations.

Fees and Charges

Roja may charge service fees, processing fees, or commissions as disclosed in-app. All fees are non-refundable unless otherwise stated. Fees may be revised with prior notice.

Limitation of Liability

Roja shall not be liable for:

1. Any financial losses arising from borrower default, except where insurance applies.
2. System downtime, third-party API failures, or force majeure events.
3. Indirect, incidental, or consequential damages.

Maximum Aggregate Liability: Maximum aggregate liability under this Agreement shall not exceed the total fees paid by the user within the 6 months preceding the claim.

Dispute Resolution

All disputes shall first be resolved amicably between parties. Where unresolved, disputes shall be referred to arbitration in Abuja, Nigeria, in accordance with the Arbitration and Conciliation Act.

Termination

Roja may suspend or terminate access to the Platform for breach of these Terms or for regulatory reasons. Users may close their accounts at any time, subject to completion of ongoing transactions.

Governing Law

This Agreement shall be governed by the laws of the Federal Republic of Nigeria.

Contact Information

For inquiries or complaints, contact:

Roja Technologies Limited

3 Carlton Court, Abuja, FCT, Nigeria.

compliance@getroja.com