Terms of service.

EFFECTIVE DATE: 10 June 2026 · LAST REVIEWED: 10 June 2026

1. About these terms

These terms govern your use of the website at https://mavifinance.com.ng, the MAVI mobile applications, and any product or service offered by MAVI Finance Limited ("MAVI", "we", "us"). By using any of these you agree to these terms. If you don't agree, please don't use our services.

2. Eligibility

To borrow from MAVI you must:

• Be at least 18 years old
• Be a Nigerian citizen or legal resident
• Have a valid BVN and a Nigerian bank account in your name
• Have verifiable income (salary, business, or pension)
• Not be on a sanctions list or have an active fraud-related criminal proceeding

3. Loan agreements

Each loan you take is a separate contract between you and MAVI Finance Limited, governed by the loan agreement you accept at the time of disbursement. The loan agreement specifies:

• The principal amount
• The interest rate, fees, and total repayable
• The repayment schedule and tenure
• The direct-debit mandate authorising automatic repayment
• Default and late-payment terms

By accepting a loan agreement you authorise MAVI to debit your nominated bank account on each due date until the loan is fully repaid.

4. Interest and fees

Interest rates and fees are clearly disclosed before you accept a loan. They are calculated using the reducing-balance method on the principal outstanding. Late-payment fees, where applicable, are capped at the maximum permitted under CBN guidelines for the licence under which we operate.

5. Repayment and direct debit

Repayments are collected automatically from the account you nominate via either:

• Single-account mandate via Remita on the account you specify, or
• BVN-wide mandate via Mono, covering every account linked to your BVN

If a debit fails because of insufficient funds, MAVI may retry on subsequent days. Persistent default leads to credit-bureau reporting and may be referred to a debt-recovery partner.

6. Your responsibilities

• Provide accurate, complete information during application
• Inform us promptly of changes to your contact details, employer, or salary account
• Make repayments on time
• Use loans only for lawful purposes
• Keep your login credentials and PIN confidential

7. Default

You are in default if a scheduled repayment is more than 30 days overdue. Default has consequences:

• Reporting to credit bureaus (CRC, FirstCentral, CreditRegistry)
• Application of late-payment fees
• Referral to recovery partners after 90 days
• Possible legal action to recover the debt and associated costs

8. Privacy

Your data is handled in accordance with our Privacy Policy, which forms part of these terms.

9. Limitation of liability

MAVI is not liable for losses caused by events beyond our reasonable control (network outages, force majeure, third-party provider failures). Where we are liable, our liability is capped at the lesser of the loan principal in question or ₦5,000,000.

10. Termination

You may close your MAVI account at any time, provided you have no outstanding loan balance. We may terminate or suspend your account if you breach these terms, default on a loan, or where we reasonably suspect fraudulent or illegal activity.

11. Governing law

These terms are governed by the laws of the Federal Republic of Nigeria. Disputes are subject to the exclusive jurisdiction of the FCT High Court, Abuja.

12. Changes

We may update these terms occasionally. The "Last reviewed" date reflects the most recent change. Material changes will be notified by email at least 14 days before they take effect.

13. Contact

MAVI Finance Limited
Abuja, FCT, Nigeria
hello@mavifinance.com.ng
+234 800 000 0000