Privacy Policy
Your privacy matters to us at NASFUNDS Cooperative. This policy explains how we collect, use, and protect your information.
Your data is safe
Encrypted at rest and in transit with bank-grade security.
Never sold
We never sell or rent your personal data to anyone.
You stay in control
Access, correct, export, or delete your data anytime.
NDPA compliant
We comply with Nigeria's Data Protection Act and NDPR.
Introduction
NASFUNDS Cooperative ("NASFUNDS", "we", "us" or "our") is committed to protecting the privacy and security of your personal information. This Privacy Policy describes the types of information we collect from you, how it is used, and the choices you have regarding your data.
By accessing or using the NASFUNDS platform, registering as a member, or otherwise providing us with your personal information, you consent to the practices described in this policy. Please read this document carefully and keep a copy for your records.
This policy applies to all visitors, prospective members, and active members of NASFUNDS, and to all services we provide — including savings accounts, loan products, member management, and financial reporting.
Information We Collect
We collect information that you provide directly and information gathered automatically as you use our platform.
Identity Information
Full name, date of birth, gender, nationality, and photograph.
Contact Details
Email address, phone number, home address, and next of kin.
Financial Information
Bank account details, savings balances, loan history, and transactions.
Verification Documents
Government-issued IDs and documents submitted for KYC compliance.
Usage Data
Device information, IP address, browser type, and pages you visit.
Communications
Records of messages, support inquiries, and preferences you share with us.
How We Use Your Information
We use your personal information for the following purposes:
Providing and operating our services
Processing savings deposits and withdrawals, loan applications and disbursements, and member account management.
Verifying your identity
Conducting Know-Your-Customer (KYC) checks and complying with Nigerian anti-money-laundering regulations.
Communicating with you
Sending account notifications, transaction alerts, service updates, and responding to your enquiries.
Improving our platform
Analysing usage patterns to enhance features, security, and overall member experience.
Legal and regulatory compliance
Meeting obligations under Nigerian cooperative, financial services, and data protection laws.
Important: We never sell, rent, or trade your personal information to third parties for marketing purposes. Your data belongs to you.
Data Security
We implement robust technical and organisational measures to protect your data against unauthorised access, alteration, disclosure, or destruction.
Encryption
AES-256 encryption at rest and TLS 1.3 in transit.
Two-Factor Auth
Optional 2FA adds an extra layer of account protection.
Audit Trails
Every access and transaction is logged and traceable.
No method of transmission or storage is 100% secure. While we strive to protect your data, we cannot guarantee absolute security. We will notify you of any data breach affecting you within 72 hours as required by law.
Data Retention
We retain your personal information for as long as your account is active or as otherwise needed to provide you with our services. Where we are required to retain information for longer periods to comply with legal, regulatory, tax, or accounting obligations, we will keep your data only for the period mandated by law.
Financial and transaction records are retained for a minimum of six (6) years as required under Nigerian financial regulations. Upon your request, we will securely delete or anonymise personal data that is no longer necessary for the purposes for which it was collected.
Your Rights
Under the Nigeria Data Protection Act 2023 (NDPA) and the NDPR, you have the following rights regarding your personal information:
Right of Access
Obtain a copy of the personal data we hold about you.
Right to Rectification
Correct any inaccurate or incomplete information.
Right to Erasure
Request deletion of your personal data, subject to legal obligations.
Right to Restriction
Restrict how we process your data in certain circumstances.
Right to Portability
Receive your data in a structured, machine-readable format.
Right to Withdraw Consent
Withdraw consent for processing at any time.
Right to Object
Object to processing for direct marketing or legitimate interests.
Right to Complain
Lodge a complaint with the Nigeria Data Protection Commission (NDPC).
To exercise any of these rights, contact our Data Protection Officer at privacy@nasfunds.co.ng. We will respond to your request within 30 days.
Children's Privacy
Our services are designed for adults aged 18 and above. We do not knowingly collect personal information from anyone under the age of 18. If you believe we have inadvertently collected information from a minor, please contact us and we will promptly remove it.
International Data Transfers
Your data is primarily stored on servers within Nigeria. Where data is transferred outside Nigeria — for example, to trusted cloud infrastructure providers — we ensure appropriate safeguards are in place, including standard contractual clauses and compliance with applicable data protection laws, to keep your information protected.
Changes to This Policy
We may update this Privacy Policy from time to time to reflect changes in our practices, technology, or legal requirements. When we make material changes, we will notify you via email and through the platform. The "Last updated" date at the top of this page will indicate when the policy was last revised. Your continued use of our services after changes take effect constitutes acceptance of the revised policy.
Contact Our Data Protection Officer
If you have questions, concerns, or requests regarding this Privacy Policy or how we handle your personal information, please don't hesitate to reach out.