Privacy Policy
Your privacy matters to us. This policy explains exactly what data we collect, why we collect it, and how we keep it safe.
Last updated: June 2026
1. Who We Are
AkaAwo is a savings and contributions platform operating in Nigeria. When we refer to "AkaAwo", "we", "us", or "our", we mean the AkaAwo platform and the administrators who operate it. This Privacy Policy explains how we collect, use, store, and protect your personal information.
2. Information We Collect
We collect the following categories of personal information: identity information (full name, date of birth), contact information (phone number, email address), financial information (bank account details, BVN where required), account activity (contribution history, withdrawal requests, login timestamps), and device information (IP address, browser type, operating system).
3. How We Use Your Information
Your information is used to operate and manage your savings account, process contributions and payout disbursements, verify your identity and prevent fraud, send you transaction receipts and notifications, comply with applicable Nigerian financial regulations, and improve the platform's features and performance.
4. Legal Basis for Processing
We process your personal data on the following legal bases: performance of a contract (to deliver the savings service you enrolled in), compliance with a legal obligation (Nigerian financial regulations require us to verify identities and maintain records), and legitimate interests (fraud prevention, platform security, and service improvement).
5. Data Sharing
We do not sell your personal data. We may share your information with Nigerian banks and payment processors to facilitate payouts, regulatory authorities where required by law, and third-party service providers who assist us in operating the platform under strict confidentiality agreements. We do not share your data with advertisers or marketing platforms.
6. Data Retention
We retain your personal data for as long as your account is active and for a period of seven (7) years after the closure of your account, as required by Nigerian financial record-keeping regulations. After this period, your data is securely deleted or anonymised.
7. Data Security
We implement industry-standard security measures including encryption in transit (TLS), hashed password storage, JWT-based authentication with token rotation, and role-based access controls. While we take all reasonable steps to protect your data, no system is completely infallible and we encourage you to keep your credentials secure.
8. Your Rights
You have the right to access the personal information we hold about you, request correction of inaccurate data, request deletion of your data where there is no lawful reason for continued processing, and withdraw consent where processing is consent-based. To exercise any of these rights, contact your AkaAwo administrator or use the support section of the platform.
9. Cookies
AkaAwo uses essential session cookies to keep you securely logged in. We do not use advertising cookies or third-party tracking cookies. You may disable cookies in your browser settings, but this may affect the functionality of the platform.
10. Changes to This Policy
We may update this Privacy Policy from time to time. When we make material changes, we will notify you through the platform or via your registered contact details. Continued use of the platform after updates are posted constitutes your acceptance of the revised policy.
11. Contact Us
If you have questions, concerns, or complaints about how we handle your personal data, please contact your AkaAwo administrator or reach out through the support section of the platform. We are committed to resolving any privacy concerns promptly and fairly.