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.
Baff is a financial technology company. Our registered office is at 225 Ikorodu road, Lagos, Nigeria.
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.
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.
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.
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.
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.
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 | ₦100,000 | ₦1000,000 |
We issue Mastercard and Visa Card, pursuant to agreements with our banking partners. When issued, cards must be used for lawful transactions only. Cards are valid until the last day of the expiry month and auto-renew unless revoked or the account is closed.
The PIN enables purchases on POS terminals and online platforms. When using your card on third-party channels, their rules apply as well.
Keep your card, phone, and PIN secure. If you notice suspicious activity or lose your card, freeze it and notify us immediately. You're responsible for your login credentials and transaction PIN.
You may close your account at any time, free of charge, but remain liable for obligations. Once closed, services are no longer accessible.
We comply with sanctions from OFAC, EU, UN, HMT, and local Nigerian regulations including those from the CBN. Baff does not support cryptocurrency transactions.
Your personal data may be processed for service delivery, analytics, and international use under privacy policies. Consent is required when laws differ in other jurisdictions.
We may contact you with offers and updates. You can unsubscribe anytime using the provided link in our messages.
In the event of fraud, your account may be restricted and reported to enforcement bodies and regulators including the CBN and NIBBS.
By opening an account, you confirm the truth of your submitted info and agree to our terms. You also agree to indemnify Baff for any losses from false information.