Terms and Conditions

Terms of Use - "The Agreement"

By opening an account with FundQuest, you are entering into an agreement between FundQuest Financial Services Limited and you. This agreement shall regulate the services provided by FundQuest Financial Services Limited (hereinafter referred to as ‘’FundQuest’’, ‘’the company’’ ‘’us’’ ‘’we’’ or ‘’our’’), a company duly registered in Nigeria with RC 1004646 and licensed by the Central Bank of Nigeria (CBN) to operate as a Finance Company with our registered office address at 235A, Ikorodu Crescent, Dolphin Estate, Ikoyi, Lagos State, Nigeria.

These Terms of Use (‘’Terms’’, ‘’Agreement’’) shall constitute a binding contract between FundQuest and You (‘’User’’ or ‘’Your’’).

By accepting this agreement, You agree to be bound by it. You have also agreed to our Privacy Policy and given consent to receiving electronic communication from the Company relating to Your account.


Parties to this Agreement

This parties to this Agreement are You (‘’User’’ or ‘’Your’’) and FundQuest Financial Services Limited (hereinafter referred to as (‘’FundQuest’’ ‘’the Company’’ ‘’Us’’ ‘’We’’ or ‘’Our’’) (individually ‘’a Party’’ collectively ‘’Parties’’)

This is a legally binding agreement between You and Us governing Your non-transferable (unless with Our prior written consent) use of the FundQuest E-Channels (consisting of FundQuest App, FundQuest website, Unstructured Supplementary Service Data [USSD]) and any other products that FundQuest may make available to You through the FundQuest application or website (hereinafter collectively called “Services”).


Definition of Terms

In this Agreement, the following terms are described as follows:

“You”, ‘’’Your’, ‘’ Customer’’ shall mean the person who agrees to this Agreement and requested to open an Account with FundQuest.

‘’FundQuest’’ ‘’The Company’’ ‘’We’’ ‘’Us’’ ‘’Our’’ shall mean FundQuest Financial Services Limited and any other person or any company to whom the rights and obligations of FundQuest have been transferred to.

‘’Account’’ shall mean Your account with FundQuest.

‘’Card’’ means a virtual or debit card issued to you by FundQuest for payments and other transactions.

‘’Credit Limit’’ means the maximum credit available to You upon opening an account with FundQuest.

‘’Disbursement Date’’ shall mean the day FundQuest disbursed a loan amount to your account.

‘’Loan’’ means the amount advanced to you by FundQuest which must not be less than NGN50,000.00 (Fifty Thousand Naira) only on the understanding that you will pay back on a particular date.

‘’Payment Due Date’’ means thirty (30) days after the loan has been disbursed except as otherwise agreed by Parties.

‘’Value Date’’ means the date an Investment or Loan contract becomes effective.

‘’Maturity Date’’ means the date an Investment or Loan contract matures.

‘’Residual Fee’’ means the fee payable at the end of a lease term.

‘’Tenor’’ means the duration of the Loan or Investment contract.

‘’Equity Contribution’’ means the sum contributed as a percentage of ownership in the cost of an Asset.


Customer’s Consent

By clicking ‘’I agree to the Terms and Conditions’’ on our e-channel (site or application) You consent and agree as follows:

  • That We are authorized to collect, use, process and share your personal information/data.
  • That we
  • and/or any of Our agent/partner have authority to debit Your Account including Your salary account, or any other bank account linked to Your Bank Verification Number (‘’BVN’’) for repaying any loan and accrued interest, advanced to you.
  • To provide information to Credit Bureau Agencies as mandated by us and as may be required from time to time.
  • To periodically review your credit ratings/reports.
  • We can provide materials and other information about Your legal rights and duties to You electronically.
  • Your electronic signature on this Agreements has the same effect as if You signed them using ink on paper or any other physical means.
  • We can send all important communications, billing statements and demand notes and reminders (collectively referred to as “Disclosures”) to You electronically via our website or to an email address that You provide to Us while applying for this Loan.
  • To us restricting your account and reporting to law enforcement agencies, including but not limited to the Economic and Financial Crimes Commission, the Nigerian Financial Intelligence Unit, the Nigerian Police Force, if a fraudulent activity is associated with the operation of your account.
  • To us reporting to Nigeria Inter-Bank Settlement Systems Plc (NIBBS) for 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.
  • To receiving certain other communication from us, such as newsletters, special offers, questionnaires, customer surveys or other announcements via email, SMS or other methods.
  • You consent that we can share your information for any purpose permissible under the law. Under the Nigeria Data Protection Regulation 2019 (NDPR), there are certain occasions when we must obtain your explicit consent to use your information.
  • This consent applies to this transaction, to all future Disclosures on this Account, to all future transactions in which You use our services.


Requirements to use the Services

To use the services,

  1. You must:

(a) accept and agree to these Terms and our Privacy Policy;

(b) register with us on the Website and App;

(c) be a Nigerian citizen (or a legal Nigerian resident) of at least 18 years of age (or older if you reside in a state where the majority age is older);

(d) have a Bank Account with a Nigerian financial institution; and

(e) provide all information requested by us, such as your name, email address, mobile device number, online credentials for your Bank Account, and such other information as we may request from time to time (collectively, “User Information”).

  1. You represent and warrant that all User Information you provide us from time to time is truthful, accurate, current, and complete, and you agree not to misrepresent your identity or your User Information.
  2. You agree to promptly notify us of changes to your User Information by updating your profile on the Website or FundQuest App; provided, however, that you must notify us at least three Business Days before any changes to your Bank Account information, including, but not limited to, the closure of your Bank Account for any reason by calling 0700 386 378 378 or emailing contact@fundquestnigeria.com or by updating your profile via the Website or FundQuest App. If we approve your registration, you will be authorized to use the services, subject to these Terms.
  3. If We approve your registration, you will be authorized to use the Account, subject to these terms:
  4. For our compliance purposes and in order to provide the services to you, you hereby authorize us to, directly or through a third-party, obtain, verify, and record information and documentation that helps us verify your identity and Bank Account information.
  5. When you register for the services and from time to time thereafter, we may require you to provide and/or confirm information and documentation that will allow us to identify you, such as:
  • A copy of your government-issued photo ID, such as a passport, voter’s card or driver’s license;
  • A copy of a utility bill, bank statement, affidavit, or other bill, dated within three months of our request, with your name and Nigerian street address on it; and
  • Such other information and documentation that we may require from time to time.
  • A copy of your government-issued photo ID, such as a passport, voter’s card or driver’s license;
  • A copy of a utility bill, bank statement, affidavit, or other bill, dated within three months of our request, with your name and Nigerian street address on it; and
  • Such other information and documentation that we may require from time to time.
  1. You agree that other third parties shall be entitled to rely on the foregoing authorization, agency, and power of attorney granted by you.
  1. You understand and agree that the services are not endorsed or sponsored by any third-party account providers accessible through the Services. We make no effort to review information obtained from the financial institution holding your Bank Account and other third-party websites and databases for any purpose, including, but not limited to, accuracy, legality, or non-infringement.


Dispute Resolution

All matters arising out of this Agreement shall be governed by the laws of the Federal Republic of Nigeria. Parties shall endeavor to amicably settle any dispute or differences arising from or in connection with this Agreement through mutual discussions in line with a standard Dispute Resolution Framework.

Where the Parties are unable to resolve the dispute through mutual discussions, the dispute or difference of opinion shall be referred to mediation conducted by their legal representatives or financial auditors, where financial matters are involved. Failing which the dispute shall finally be referred to arbitration in accordance with the Arbitration and Conciliation Act Cap. A18, Laws of the Federation of Nigeria 2004, or any amendment thereto.

The place of arbitration shall be Lagos State, Nigeria and there shall be a sole arbitrator who shall be appointed jointly by the parties. Where the parties fail to jointly agree on the appointment, they shall approach the Lagos Multi-Door Court House to appoint a sole arbitrator who shall be competent to adjudicate on the issue in dispute.

The language to be used in the arbitral proceedings shall be English. The arbitral award shall be final and binding between the Parties. The reference of any dispute to arbitration shall not prevent the Parties from seeking any form of protective reliefs/injunctions/specific performance from a court of law via motion or other originating processes for the protection of any res pending the constitution of the Arbitral Panel and/or final award.


General terms


You agree that We may communicate with You by sending notices, messages, alerts, and statements in relation to this Agreement in the following manner:

(a). To the most recent physical address, we hold for you in our records

(b). By delivery to any email address provided by You during the application process.

(c). By delivery of an SMS to any mobile telephone number, you have provided to FundQuest.

(d). By posting such notice on our website.

(e). Through push notifications on Your mobile device


Event of default

  1. Default in terms of this Agreement will occur if:
  2. You fail to make any scheduled repayment in full on or before the payment due date in accordance with the repayment plan given to you by us when you take a Loan;
  3. Any representation/information, warranty or assurance made or given by you in connection with the application for use of your Account or any information or documentation supplied by you is later discovered to be materially incorrect; or
  4. You do anything which may prejudice our rights in terms of this Agreement or causes us to suffer any loss or damage.
  5. In the event of any default by you subject to clause 1 above –
  6. We may, without notice to or demand on you (which notice or demand you expressly waives), set-off, appropriate or apply any balance outstanding on your investment account held by us, or any indebtedness at any time owed by us to or for your account, against Your obligations to FundQuest, whether or not those obligations have matured.
  7. We reserve the right to assign our right, title and interest under the Agreement to an external Collections Agency/Agent who will take all reasonable steps to collect the outstanding Loan amount.
  8. We also reserve the right to institute legal proceedings against you and we will inform You before such proceedings commence.
  9. You shall be responsible for all legal costs and expenses incurred by us in attempting to obtain repayment of your outstanding Loan balance.


Closing of an Account

  1. You may request to close Your Account at any time by contacting Us. Your request may take up to 30 business days to process.
  2. If You owe any payment to FundQuest, FundQuest will not close your Account until that payment has been made, but We may limit Your ability to make additional transactions using Your Account.
  3. You may not close Your Account to evade an investigation. You will remain liable for all obligations related to Your Account even after the account is closed.
  4. FundQuest will retain Your information in accordance with our Privacy Policy (available on the FundQuest website) and any applicable state or federal law, rule or regulation.


Limitation of Liability

To the extent not prohibited by law, under no circumstances shall We, Our subsidiaries, partners, shareholders, directors or affiliates, be liable to You for:

  1. personal injury or any indirect, incidental, consequential, special or exemplary damages, arising from or relating to this Agreement, the use of or inability to use a FundQuest Account, the services, Our or Your liabilities to third parties arising from any source; or
  2. except as required under applicable law, any indirect, incidental, consequential, special or exemplary damages, arising from or relating to the conduct of you or anyone else in connection with the use of a FundQuest Account or the services, including, but not limited to, damages arising from Your failure to provide Us with accurate information or a third party’s failure to correctly verify such information. You agree that if any lawsuit or court proceeding is permitted under this Agreement, the aggregate liability of us and our affiliates and suppliers to You for all claims arising out of or related to this Agreement or your use or inability to use the services will not exceed the amount of any affected order(s) giving rise to such damages. These limitations will apply even if the above stated remedy fails of its essential purpose.



You agree to release, indemnify and hold the Company, Our Shareholders, Directors, Affiliates and their respective Officers, Employees and Agents from and against any claims, liabilities, damages, losses and expenses, including without limitation reasonable legal and accounting fees, arising out of or in any way related to:

(a) Your access to, use of, or inability to use your FundQuest Account or the Services;

(b) Your breach or alleged breach of this Agreement;

(c) Your violation of any rights of a third party, including but not limited to any negligent or willful misconduct of Your employees, contractors, or agents, or a breach of any contracts or other relationships between You and third parties;

(d) Your violation of any applicable law; or

(e) Your failure to provide and maintain true, accurate, current and complete

information in Your FundQuest Account. You shall cooperate as fully as reasonably required in the defense of any such claim. FundQuest reserves the right, at its own expense, to assume the exclusive defense and control of any matter subject to indemnification by You. You agree not to settle any matter without the prior written consent of FundQuest. For the avoidance of doubt, this indemnification, defense and hold harmless obligation will survive this Agreement and the termination of Your use of the Services.



  1. This Agreement represents the entire understanding between You and FundQuest with respect to the subject matter hereof and supersedes any prior agreement. You and FundQuest acknowledge and agree that We have not made any representations, warranties or agreements of any kind except as expressly set herein forthwith.
  2. We may amend this Agreement from time to time. If we make any changes to this Agreement that We deem to be material, We will notify You in advance of such changes via the email address associated with Your Account. If you do not agree with the changes, do not use the Services.
  3. Notwithstanding any other provision in this Agreement, neither FundQuest, its affiliates, officers, directors, employees, attorneys or agents shall have any liability with respect to, any claim for any special, indirect, incidental, consequential damages suffered or incurred by you in connection with, arising out of, or in any way related to, a breach of this Agreement.
  4. The failure of FundQuest to exercise or enforce any right or provision of these Terms of Use shall not constitute a waiver of such right or provision in that or any other instance.
  5. We may transfer, assign or sell this Agreement, and any rights under this Agreement, to a third party without Your consent. You agree that We may appoint third party collections agencies to collect any amounts owing to Us under this Agreement without Your consent. You hereby waive demand, notice of non-payment, protest and all other notices or demands whatsoever, and hereby consent that without notice to and without releasing the liability of any party, the obligations evidenced by this Agreement may from time to time, in whole or part, be renewed, extended, modified, accelerated, compromised, settled, cancelled or released by Us.
  6. You hereby authorize and consent to all lawful access, use or disclosure of Your particulars, data and information in the application by the Us for purposes necessary to provide You with the services.
  7. FundQuest may at any time vary and revise these Terms and Conditions by updating this document. The most updated version of this document will be available for Your review under the “FundQuest Terms and Conditions” link that appears on the FundQuest website and mobile application.
  8. You acknowledge that all intellectual property rights in FundQuest belongs to FundQuest or its licensors and that rights in the application/website are licensed (not sold or assigned) to You in accordance with this Agreement, and that you have no rights in, or to, the mobile application/website other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the mobile application in source-code form.


Contact Us

If you have questions, comments or concern regarding Terms and Conditions, please email us at contact@fundquestnigeria.com or 0700 386 378 378.