Legal Document

Terms of Service

Last Updated: April 18, 2026

1. Introduction

Welcome to MyCashNG (“Platform”, “we”, “our”, “us”), a financial infrastructure platform that enables users to create, manage, and facilitate loan agreements between individuals.

By accessing or using MyCashNG, you agree to be bound by these Terms of Service (“Terms”). If you do not agree, you must not use the Platform.

2. Nature of the Service

MyCashNG provides tools that allow users to:

  • Create loan agreements
  • Share loan offers via links
  • Facilitate disbursement and repayment of loans

IMPORTANT:

  • MyCashNG is not a bank, lender, or credit provider
  • We do not originate or fund loans
  • We do not guarantee repayment of any loan
  • All loan agreements exist strictly between users

3. Definitions

  • “User”: Any individual or entity using the Platform
  • “Lender”: A user who creates and funds a loan
  • “Borrower”: A user who accepts and receives a loan
  • “Loan Agreement”: A contract created between lender and borrower
  • “Wallet”: A stored value account used to fund and receive payments
  • “Payment Processor”: Third-party provider facilitating payments (e.g. Paystack)

4. Eligibility

To use MyCashNG, you must:

  • Be at least 18 years old
  • Provide accurate and complete information
  • Comply with all applicable laws in Nigeria

5. User Responsibilities

Lenders agree to:

  • Independently assess borrower risk
  • Define loan terms (amount, duration, interest, penalties)
  • Fund loans through the Platform wallet

Borrowers agree to:

  • Provide accurate personal and financial information
  • Repay loans according to agreed terms
  • Accept responsibility for penalties where applicable

6. Loan Creation and Acceptance

  • Lenders may create loan offers and share them via unique links
  • Borrowers must review and accept all terms before disbursement
  • Upon acceptance, the loan agreement becomes binding between the lender and borrower only

7. Wallet and Payments

  • Users fund wallets via our integrated payment processor (e.g. Paystack)
  • MyCashNG does not store card or sensitive payment details
  • Payment processing is subject to the terms of the payment processor

We are not responsible for:

  • Payment delays
  • Processor errors
  • Bank-related failures

8. Disbursement of Loans

Loans may be disbursed:

  • Automatically upon borrower acceptance, or
  • Manually by the lender

Disbursement is executed based solely on user instructions.

9. Repayment and Enforcement

Borrowers are required to repay loans as agreed.

The Platform may provide:

  • Payment reminders
  • Automated repayment tools
  • Enforcement mechanisms for eligible (“Pro”) users

HOWEVER:

  • MyCashNG does not guarantee successful recovery of funds
  • Enforcement tools do not constitute legal enforcement or debt collection services

10. Interest and Penalties

Lenders may set:

  • Interest rates
  • Penalty interest for late payments

Users are responsible for ensuring such terms comply with applicable laws in Nigeria.

11. Fees

  • MyCashNG charges transaction-based fees for use of the Platform
  • Additional fees may apply via payment processors

All applicable fees will be disclosed before transaction completion.

12. Prohibited Use

Users must not:

  • Engage in fraud or misrepresentation
  • Use the Platform for illegal lending activities
  • Impersonate others
  • Circumvent fees or system controls

13. Risk Disclosure

Lending carries inherent financial risk.

By using MyCashNG, you acknowledge that:

  • Borrowers may default
  • You may lose funds
  • The Platform does not insure or guarantee any transaction

14. Limitation of Liability

To the fullest extent permitted by law, MyCashNG shall not be liable for:

  • Loan defaults or non-payment
  • Disputes between users
  • Loss of funds due to user decisions
  • Payment processor failures

15. Dispute Resolution

  • Disputes between lenders and borrowers must be resolved independently
  • MyCashNG may provide limited support but is not obligated to intervene

16. Termination

We may suspend or terminate accounts that violate these Terms or engage in fraudulent or abusive behavior.

Users may discontinue use at any time.

17. Changes to Terms

We may update these Terms at any time. Continued use of the Platform constitutes acceptance of updated Terms.

18. Governing Law

These Terms are governed by the laws of Nigeria.

19. Contact Information

For inquiries, contact:
Email: support@MyCashNG.com