Privacy policy

AB Microfinance Bank Nigeria Limited (“AB Microfinance Bank”, “the Bank”, “we”, “us”, “our”) is a licensed financial institution regulated by the Central Bank of Nigeria. This Privacy Notice explains how we collect, use, share, protect your personal information when you use our product, services or digital platforms including our website, mobile apps or other service channels, and otherwise process your personal information when you visit our branches, use our mobile application, access our website, or use any of our financial products and services.

As our customer or data subject, you can be assured that we treat your personal information with confidentiality and care.

CONSENT TO PROCESSING OF PERSONAL DATA

By providing your personal data to AB Microfinance Bank Nigeria Limited, you acknowledge that you have read and understood this Privacy Policy and you consent to the collection, use, storage, disclosure, and other processing of your personal data in accordance with this Policy and applicable laws.

Your personal data may be processed by for purposes including, but not limited to:

• Opening, maintaining, and administering your bank accounts;
• Providing banking, financial, and related services;
• Verifying your identity and conducting due diligence and regulatory checks;
• Complying with applicable legal and regulatory obligations;
• Improving our products, services, and customer experience;
• Preventing fraud, money laundering, terrorism financing, and other unlawful activities; and
• Communicating with you regarding our services, updates, or other relevant information.

Where consent is relied upon as the lawful basis for processing, such consent shall be freely given, specific, informed, and unambiguous, and may be provided in writing, electronically, or through other affirmative action.

You have the right to withdraw your consent at any time, subject to legal or contractual restrictions and reasonable notice. Withdrawal of consent shall not affect the lawfulness of processing carried out prior to such withdrawal.

Where you withdraw consent for processing that is necessary for the provision of certain banking services, AB Microfinance Bank Nigeria Limited may be unable to continue providing those services.

Requests to withdraw consent or exercise any data protection rights may be directed to our data protection officer.

WHAT CONSTITUTES CONSENT?

You also provide consent when you:

• Sign account opening forms or loan agreements
• Carry out banking transactions(including deposits, withdrawals transfers and payment)
• Agree to terms and conditions
• Accept the use of biometric authentication
• Grant mobile app permissions
• Submit identity verification documents
• Contact our customer service channels for complaints or dispute resolution

You provide consent when you voluntarily give us your personal information to access our services, whether online, through our mobile app, or at any of our branches.

Where we rely on your consent to process your personal data, you may withdraw that consent at any time by sending an email to:

📧 dpo@ab-mfbnigeria.com

Withdrawal of consent does not affect the lawfulness of processing carried out before the withdrawal.

THE INFORMATION WE COLLECT

We collect personal information necessary to provide banking services and to comply with regulatory requirements. This may include:

• Name, address, phone number, email address, and Date of Birth
• Bank Verification Number (BVN)
• Tax Identification Number (TIN)
• Means of identification
• Photographs
• Mother’s maiden name
• Employment and income details
• Transaction records and account history
• Loan and credit information

During account opening or upgrade processes (including electronic KYC verification), we may collect your location information with your permission to verify your address. When you visit our branches, CCTV cameras may capture your image for security and safety purposes.

When you use our mobile application or ATM services, device and technical information such as IP address, device ID, and operating system may be collected for security and system administration purposes.

In certain situations, we may process sensitive personal data such as biometric information (e.g., fingerprints or facial recognition) strictly in accordance with applicable laws and with appropriate safeguards.

HOW WE COLLECT YOUR INFORMATION

We collect your personal information when:

• You open or operate an account
• You apply for a loan or other financial products
• You use your debit card or mobile banking services
• You contact customer support
• You submit a complaint or dispute
• We conduct regulatory due diligence or AML/CFT checks
• We obtain credit history information from credit bureaus
• You log into online banking platforms

We may also collect information about your device for security monitoring and fraud prevention. This information does not directly identify you unless combined with other personal data.

BASIS FOR PROCESSING YOUR INFORMATION

We process your personal data on one or more of the following legal bases:

• To perform a contract with you
• To comply with legal and regulatory obligations
• For the performance of statutory duties
• For legitimate business interests (such as fraud prevention and service improvement)
• To protect public interest
• Where you have given prior consent

HOW WE USE YOUR INFORMATION

We use your information to:

• Provide banking products and services
• Manage transactions and carry out your instructions
• Detect and prevent fraud, money laundering, and terrorism financing
• Comply with regulatory reporting requirements
• Improve customer experience
• Send important service updates
• Provide marketing communications (where permitted)
• Record conversations for quality assurance and verification
• Conduct automated credit assessments where necessary

Where automated decision-making significantly affects you (such as credit approval decisions), you have the right to request human review, express your opinion, and contest the decision.

SHARING OF PERSONAL DATA

AB Microfinance Bank may share your personal information with trusted third parties and service providers as part of delivering our financial services, in line with the Nigeria Data Protection Act, 2023, other applicable data protection laws and international standards and best practices.

We may also disclose your personal data under the following circumstances:

• When required by law, regulation, or legal proceedings.
• To law enforcement agencies, regulators, or other government authorities.
• Where disclosure is necessary to prevent physical harm, financial loss, or to support investigations into suspected or actual unlawful activities.
• If it is essential to safeguard the vital interests of any individual.
• To enforce our Terms and Conditions.
• To protect the Bank’s assets, services, and legal rights.
• For purposes of auditing, compliance checks, and corporate governance.

To meet obligations under applicable laws and regulatory frameworks. All third parties must keep shared data confidential and secure, and use it only for the stated purposes.

WHO WE SHARE YOUR INFORMATION WITH

We may share your information with:

• The Central Bank of Nigeria
• Nigeria Deposit Insurance Corporation
• Nigeria Data Protection Commission
• Credit bureaus
• Law enforcement agencies
• Courts and tribunals
• External auditors and professional advisers
• Technical service providers and partners

Where we engage third parties, we ensure appropriate data processing agreements and safeguards are in place.

DATA QUALITY AND ACCURACY

AB Microfinance Bank Nigeria Limited ensures that personal data it collects and processes is accurate, complete, current, and relevant for its intended purpose.

The Bank will:

• Regularly verify that data is reliable and up to date;
• Promptly review and correct information when requested by a data subject;
• If a correction request is disputed, note the disagreement alongside the data; and
• Notify relevant parties if corrections affect decisions previously made using the data.

CROSS-BORDER DATA TRANSFERS

As part of our operational requirements, we may transfer personal data outside Nigeria. Where this occurs, we ensure appropriate safeguards are implemented in accordance with the NDPA to protect your information.

SECURITY OF YOUR INFORMATION

We maintain physical, electronic, and procedural safeguards to protect your personal information from unauthorized access, misuse, alteration, or destruction.

These include:

• Encryption technologies
• Access control systems
• Multi-factor authentication
• Regular security assessments
• Staff confidentiality obligations
• Vendor compliance monitoring

DATA BREACH NOTIFICATION

If a personal data breach occurs that is likely to pose a risk to your rights and freedoms, we will notify the Nigeria Data Protection Commission within the legally required timeframe.

Where the breach presents high risk, affected individuals will be informed without undue delay.

HOW LONG WE KEEP YOUR INFORMATION

At AB Microfinance Bank, we retain your personal information only for as long as necessary for :

• Fulfill contractual obligations
• Comply with regulatory requirements
• Resolve disputes
• Enforce legal rights

HOW LONG WE KEEP YOUR DATA

We are required by financial regulations to hold on to certain personal information for a period defined by law. The exact duration depends on the regulatory framework in Nigeria and any other jurisdiction where we operate. Once the legally mandated timeframe has passed, we ensure that your data is securely deleted or destroyed in line with government directives and banking standards.

It is important to note that some laws may oblige us to retain your information even after your account or banking relationship with us has ended. This is to meet statutory, audit, and compliance obligations.

When the information is no longer required, it is securely deleted or anonymized

YOUR RIGHTS

Under the Nigeria Data Protection Act (2023), you have the right to:

• Be informed about how your data is processed
• Access your personal data
• Correct inaccurate information
• Request deletion (subject to legal limitations)
• Restrict or object to processing
• Withdraw consent
• Request data portability
• Lodge a complaint with the Nigeria Data Protection Commission

EXERCISE OF DATA SUBJECT RIGHTS

Data subjects may exercise these rights under the Nigeria Data Protection Act, 2023 by submitting a written request to the Bank through the contact details provided below.

Upon receipt of a request, AB Microfinance Bank Nigeria Limited shall:

• Acknowledge receipt of the request within a reasonable timeframe;
• Verify the identity of the requesting data subject to prevent unauthorized disclosure;
• Review the request in accordance with applicable data protection laws and regulatory requirements; and
• Respond to the request within the timeframe prescribed under applicable law.

Where the Bank is unable to comply with a request due to legal, regulatory, or contractual obligations, the data subject shall be informed of the reasons for such refusal

To exercise your rights, please contact:

dpo@ab-mfbnigeria.com

THIRD-PARTY DATA PROCESSORS AND VENDOR COMPLIANCE

Where AB Microfinance Bank Nigeria Limited engages third-party service providers or vendors who process personal data on its behalf, the Bank ensures that such parties are subject to appropriate contractual and regulatory safeguards.

These safeguards include:

• execution of Data Processing Agreements (DPAs);
• confidentiality and non-disclosure obligations;
• compliance with applicable data protection laws and regulatory standards;
• implementation of adequate technical and organisational security measures; and
• periodic monitoring and assessment of vendor compliance with data protection obligations.

Third-party service providers shall process personal data strictly in accordance with the Bank’s instructions and only for the purposes for which the data was disclosed.

CHILDREN’S PRIVACY

Our services are not intentionally directed at children under the age of 18 except where accounts are opened with parental or guardian consent in accordance with the applicable laws and regulations.

COOKIES

We use cookies and similar technologies to enhance your browsing experience, analyze website traffic, and improve our services. You may disable cookies in your browser settings; however, this may affect certain functionalities

UPDATES TO THIS PRIVACY NOTICE

We may update this Privacy Notice from time to time to reflect changes in legal requirements or operational practices. Updated versions will be published on our website with the effective date.

CONTACT US

If you have any questions about this Privacy Notice or how your personal data is handled, please contact:

Data Protection Officer (DPO)
AB Microfinance Bank Nigeria Limited

📧 dpo@ab-mfbnigeria.com
📞 (+234)9024969999
📞 (+234) 902 496 9778

If you are not satisfied with our response, you may lodge a complaint with the Nigeria Data Protection Commission (NDPC).