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terms & conditions
If you continue to browse and use this website, you agree to comply with and be bound by the following terms and conditions of use, which together with our privacy policy governs KiaKia's relationship with you. If you disagree with any part of these terms and conditions, please do not use our website. It is the responsibility of the user to read the sections below and to ensure that they fully understand the conditions, and by no means will KiaKia or any representative of KiaKia be held accountable for failure by a user to do so. If you have queries or you are unsure of the content, please feel free to contact us before you commence any activity on the website. Also note that accessing each product adds further unique terms and conditions that impacts your relationship with KiaKia. KiaKia promotes responsible borrowing and lending, please DO NOT expose yourself to credit if you know you cannot afford it.
1. Definitions & Interpretations
1.1 Definitions:
For the purposes of the Terms:
"Terms" means these terms, consisting of:
  • these terms of use; and
  • any other relevant specific terms, policies, disclaimers, rules and notices agreed between the parties, (including any that may be applicable to a specific section or module of this web site);
  • KiaKiaTM means KiaKia Bits Ltd. KiaKia Bits is a licensed Direct and P2P lending platform.
  • Visitor or You means any person who visits this web site.
  • User means a person that has signed up on the KiaKiaTM platform, and holds a client account, for the purpose of borrowing.
1.2 Interpretations.
  • A word defined or assigned a meaning in the Terms will start with a capital letter. All headings are inserted for reference purposes only and must not affect the interpretation of the Terms. Whenever including or include, or excluding or exclude, together with specific examples or items follow a term, they will not limit its ambit.
  • Terms other than those defined within the Terms will be given their plain English meaning. References to any enactment will be deemed to include references to the enactment as re-enacted, amended, or extended from time to time. A reference to a person includes a natural and juristic person and a reference to either party includes the party’s successors or permitted assigns.
  • Unless otherwise stated in the Terms, when any number of days is prescribed in the Terms the first day will be excluded and the last day included. The rule of construction that an agreement must be interpreted against the party responsible for its drafting or preparation does not apply.

    West African Time or GMT +1 will be used to calculate any times.

  • Conflict.
    If there is a conflict of meaning between these terms of use and any other relevant specific terms, policies, disclaimers, rules and notices agreed between the parties, the specific terms will prevail in respect of your use of the relevant section or module of the web site.
  • ABOUT KiaKiaTM: This web site is owned, managed, and administered by KiaKia Bits Ltd. KiaKiaTM is a business that specializes in money lending through virtual means such as the Internet.
    KiaKiaTM is fully compliant with the money lending legislative requirements of Nigeria and promotes responsible lending and borrowing. KiaKiaTM also strives to provide superior administration and management of client accounts.
1.3 Use of The Website
  • License to use this website
    KiaKiaTM grants each Visitor a limited, revocable license to use this web site subject to the Terms. Any person wishing to use this web site contrary to the Terms must obtain prior written consent from KiaKia Bits Ltd. The information offered on this web site is for the Visitor’s guidance only.
    The information offered is for quotation purposes only, and is subject to change on final submission of an application. KiaKiaTM has taken every care to ensure that the information provided on this web site is reliable by using sources we believe to be accurate. However, the accuracy of the information (including rates, fees, and charges),cannot be guaranteed.
  • Sufficient particulars.
    In order for KiaKiaTM to provide a Visitor with appropriate advice and/or quotations on products, it is important that a Visitor provides KiaKiaTM with sufficient particulars of their financial affairs. Failure to make a full disclosure could result in the advice of KiaKiaTM being compromised and may result in a Visitor thus making a financial commitment to a product inappropriate to their needs and objectives.
  • Framing.
    No person, business, or web site may frame this web site or any of the pages on this web site.
  • Linking.
    Visitor(s) may link to the web site only by linking to the home page of this web site. KiaKiaTM prohibits Visitor from “deep linking” to any other pages in a manner that would incorrectly suggest endorsement or support of Visitor by KiaKia or suggests a Visitor is the owner of any intellectual property belonging to KiaKia.
  • Spiders and Crawlers.
    No person, business, or web site may use any technology (including spiders or crawlers) to search and gain any information from this web site.
  • Modify.
    KiaKiaTM may modify, suspend, or discontinue the provisioning of this web site to the public (WITH or WITHOUT notice) and will not be liable for any claims.
  • Furthermore, KiaKiaTM also reserves the right to modify the terms and conditions that govern the relationship with users (with or without notice) and will not be liable for any claims that result in terms of such a change.
1.4 Capacity of customer.
Each Visitor represents and warrants that Visitor :
  • is old enough under applicable law to enter into the Terms;
  • possesses the legal right, full power, and authority to enter into the Terms;
  • will submit true, accurate and correct information to KiaKiaTM and this web site.
If Visitor is younger than 18 years of age, the visitor warrants that the Visitor has the consent of its legal guardian to enter into the Terms or that the Visitor has obtained legal status in another manner.
2. Before you apply
  • Be aware and advised that we take the credibility of our site users very seriously, hence we use industry's most advanced data integrity authentication validation systems. Users of this site must ensure that personal data are AUTHENTIC and GENUINE to prevent avoidable blacklisting, denial of service and possible criminal prosecution WHEN and WHERE necessary.
  • Be advised that our primary means of identification for all our website users (borrowers and attesters) is the BVN (Bank Verification Number).
  • Our loans are designed for both short-term consumer and long term business purposes. Our short term loans are designed to provide financial credits for urgent and unexpected consumer needs before your next employment or business income. Our loan rates could be as high as 240% APR (Annual Percentage Rate).
  • KiaKia is neither a deposit money bank, finance clearing house, micro-finance bank nor fund manager. We are a licensed direct and peer-2-peer lending platform. KiaKiaTM nor any of our affiliate services will never solicit nor ask you for fund deposits with us. Please, kindly contact us to report if anyone contacts you soliciting for funds.
  • We will never ask you to share your debit card details either via email, SMS or phone call.
3. Index of Terms
  • AFFORDABILITY ASSESSMENT: It is a calculation performed by the lender to determine the exact loan repayment amount that a customer qualifies for.
  • ADMINISTRATION FEES: Money that the lender requires to administer or maintain the agreement.
  • ACCOUNT STATEMENT: A summary of your financial transactions (monies paid and owed) over a certain period of time.
  • ATTESTATION: A process of authentication and verification of the digital information on the financial credibility and reputation of a loan application data submitted by a borrower.
  • ATTESTER: A credible person who can authenticate and vouch for the financial credibility and reputation of a borrower.
  • BANK ACCOUNT VERIFICATION: Checking with the bank that you are indeed the owner of the bank account you used in your application.
  • BANK VERIFICATION NUMBER (BVN): This is the unique ten-digit biometric information number for identifying and verifying all individuals that have account(s) in any Nigerian commercial bank and consequently, and also a means of authenticating the identity of customers at point of transactions.
  • CREDIT BUREAUX: Institutions that hold, issue and investigate reports on consumers' credit information.
  • CREDIT CHECK: The process of looking into the credit record of a loan applicant to determine if they are financially healthy enough to qualify for a loan.
  • CREDIT AGREEMENT: The physical document representing a legal agreement between a borrower and a lender where a lender gives the borrower money and the borrower has to pay it (and any additional fees and interest) back to the lender.
  • DIRECT DEBIT MANDATE: An instruction given to your bank to pay funds across to a third party (in this case Remita), at a fixed amount, on an agreed date.
  • DEFAULTING ON A PAYMENT: Not providing the money you owe to the lender on the agreed upon date.
  • DEBT ENFORCEMENT (Debt recovery): The legal procedures a lender can take to collect monies that are overdue.
  • DEBT COLLECTIONS COMPANY (Recovery Company): A company that is hired by the lender to assist in collecting overdue payments.
  • EARLY REPAYMENT: Paying the full outstanding debt amount before the agreed upon date.
  • FINANCIAL ARREARS: When you fall behind on your repayments, you go into financial arrears.
  • INTEREST: The amount that the lender charges a borrower on the outstanding balance of their credit agreement. The percentage rate at which this is calculated every period (daily, monthly, yearly), is called the Interest Rate.
  • LOAN INSTALMENT: The repayment amount due over the time period the borrower agreed to. It is a one-off payment.
  • OVER-INDEBTEDNESS: A borrower is over-indebted when he/she can not afford to repay their debt payments at the end of the month.
  • ONLINE LOAN: A loan that you can apply for online (via an internet enabled computer or phone). The process is usually paperless and you do not have to visit the branch or office of the lender.
  • PENALTY INTEREST: If the borrower defaults on his/her loan repayment, the lender is allowed to penalize the borrower by adding more interest to the outstanding amount.
  • TRUST POINTS: This is a unique incentive system which KiaKiaTM uses to reward and encourage borrowers to be responsible and remain creditworthy. A Trust Point is gained by a borrower when he or she has made a timely repayment, and is structured such that timely loan repayment (on or before due date) earns the borrower 5 Trust points.
  • UNSECURED LOAN: A loan that is not supported by the assets (like property or a vehicle) of the borrower and is only backed by the promise of the borrower that he/ she will repay the money owed.
Fix an appointment
PLOT 395A Etang Obuli Crescent, off Idris Ibrahim Crescent, Obafemi Awolowo Way, Jabi, Abuja.
At KiaKia, we understand the terrain, versatility and socio-cultural dynamics of the average Nigerian MSME. We leverage careful research and experience by our very agile and young workforce, enabling us to operate with speed, enhanced decision-making process and providing critically needed credit at the right offer and timing.