Terms & Conditions


These terms and conditions will serve as a basis of your banking relationship with us, Kilofe Nig Ltd operating as Baff. By choosing to open an account with us, you agree to the terms and conditions contained herein. You also confirm that you have provided us with the accurate and complete information required to create your account and that you have supplied all documentation, photographs, and information that allow us to comply with our regulatory obligations.

If you do not agree to these terms and conditions, please do not proceed and exit the application immediately. Also, please be informed that we can terminate your relationship with us if we believe that you have violated any of these terms.

About Us

Baff is a financial technology company. Our registered office is at A53/60 (Beside GTBank), Road 1, Ikota Shopping complex Ajah, Lagos, Nigeria.

The Objective Of Our Relationship With You

The objective of establishing a relationship with Baff is to receive special services on offer by Baff for its customers. Baff will manage a virtual bank account for the customer via our banking partners, as well as provide additional services like money transfers, bill payments.

You can operate and manage your virtual account via our Baff app and the prerequisite for opening an account is a smartphone, with an active phone number, that meets our minimum technology requirements for operating system (iOS/Android) and supports the latest version of our Baff app.

When are these terms applicable?

These terms are applicable when you choose to open an account with Baff and Baff generates an account number for you.

We may, at any time, modify the terms and conditions of our relationship but we will not do this without first informing you of such modification. All updates will be detailed on our website and our app. You will be able to access the latest version of our terms at any given time.

What is the scope of the relationship between Baff & the customer?

Opening an Account

You can open an account with us on the condition that you are at least 18 years old, a Nigerian citizen, meet our technology requirements defined above and have not yet opened an account with us. We do not knowingly engage with people who don’t meet these conditions.

When you choose to open an account, you agree to us using your information to make and receive payments on your behalf through your Baff account. If you would like us to stop doing this, we would have to close your account.

Verifying your identity

Banking regulations require us to verify your identity before we can open an account for you. At the very least, there needs to be an active phone number, your profile picture and BVN supplied. With more information supplied, such as valid identification documents, we will be able to open an account without any restrictions. Our accounts are tiered as follows:

Account Type Required Documentation
Basic Name, Phone Number, BVN
Full KYC Name, Phone Number, BVN, Valid ID (National ID Card, Voters Card, Drivers Licence, and National Passport)

In line with regulations, we perform due diligence on all accounts so it is your responsibility to keep your mailing address, email address, physical address and other contact information up-to-date in your profile.

Language and communication

English will be the primary language of our communication to you. We may use emojis or colloquialisms, but we will always communicate in English.

If you have any questions about your relationship with Baff, you can contact us via email using the details below:


By opening an account with us, you consent to receiving text (SMS), email and push notifications from us. These notifications are meant for your consumption only and we will not be held liable if you suffer any loss, or damage as a result of unauthorized access to the information sent.

In addition, by opening this account, you agree to opt out of mandatory SMS alerts directed by the CBN in favor of push notifications. You agree to indemnify Baff against all losses, damages, claims, demands and expenses whatsoever which may be incurred, imposed or suffered by the Bank as well as against all actions, proceedings or claims (including attorney's fees) whether civil or criminal, which may be brought against Baff by reason of such notifications.

Virtul Bank Account & Wallet

With the Baff virtual account, you will be able to fund your Baff account via bank transfers, cash at selected partner agents, and connecting an existing external account. You will be able to pay bills, make instant transfers, manage your Baff card and save as you spend. These activities are subject to the following limits:

Limit Basic (tier 1) Full (tier 3)
Daily Minimum Balance ₦0 ₦0
Maximum Single Deposit ₦50,000 N/A
Maximum Total Balance ₦300,000 N/A
Maximum Single Transaction Limit ₦50,000 ₦250,000
Daily Transaction Limit ₦1,000,000 ₦1,000,000

We issue Mastercard and Visa Card, pursuant to agreements with our banking partners. When we issue you a card, it must be used for only lawful transactions. The card will have an expiry date and is valid until the last day of the month shown on the card. Your card will be auto-renewed upon expiration unless your account is closed or the card is revoked.

The PIN issued with your card enables you to carry out transactions such as purchases, Point of Sale terminals and Web/Online platforms.

When you use your card for transactions on other channels which are not owned and controlled by the Bank, the rules of use of that channel apply in addition to these rules.

When things go wrong

To protect your money, we need you to keep your card, phone and PIN safe at all times. If you lose your card or spot any suspicious transactions on your account, please freeze your card and inform us as soon as possible. You are responsible for maintaining the security and confidentiality of your passwords, PINs, or any other identifier that you use to access your bank account and our services. Use a strong password and a unique code as your transaction PIN and limit its use to your Baff account. Do not allow anyone to have or use your password or transaction PIN details. If you share these details, we cannot and will not be liable for any loss or damage arising from your failure to comply.

Closing an account

You can close your account at any time and at no cost. If you’d like to do this, please get in touch with us. You will, however, remain liable for any obligations related to your account with us. Once the account is closed, you will not be able to access any Baff services.

Account Closure and Compliance

We reserve the right to close, suspend, freeze, or limit access to your account if:

Please note that the list above is not exhaustive.

As a financial services company, we are required to comply with the international sanction laws and regulations issued by various authorities, including but not limited to:

We also adhere to local laws and regulations applicable to issuing banks, including those issued by the CBN.

In addition, Baff is required to comply with all extant laws in Nigeria, including the rules, regulations, guidelines, circulars, and letters issued by the CBN and other regulatory bodies from time to time. In compliance with the applicable laws, Baff does not deal in cryptocurrencies and does not facilitate payments for cryptocurrency transactions and other related transactions.

You further confirm that your account shall be used solely for legal purposes and shall not be used for illegal or criminal activities, including but not limited to obtaining funds under false pretenses or any other fraudulent activity in contravention of extant laws in Nigeria.

Data Protection

By opening this account, you consent to us processing your personal information:

Marketing and Promotion

We may also use your personal or other information to share information with you on new products and services that may be of interest to you. By opening an account with us, you consent to us sending you updates about the Baff product. You can unsubscribe from our newsletter using the link provided for the purpose in each newsletter we send.

Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry

You consent to us applying restrictions on your account and reporting to law enforcement agencies, including the Economic and Financial Crimes Commission, the Nigerian Financial Intelligence Unit, the Nigerian Police Force, etc., if a fraudulent activity is associated with the operation of your account. You also consent to us reporting to Nigeria Inter-Bank Settlement Systems Plc (NIBBS) for an update on the Watchlist Database of the Nigerian Banking Industry and the CBN if a fraudulent activity is associated with the operation of your account.


By choosing to proceed, you agree that you understand that you are opening an account with Baff and that all the information you have supplied is for this purpose. You agree to abide by the above-listed terms and conditions, which govern our operations. You also agree that the information supplied is true and correct. By opening an account with us, you consent to our carrying out of regular identity and fraud prevention checks.

Finally, you agree to indemnify us for any loss suffered as a result of any false information or error in the information you have supplied us.