BettaLyfe
Terms & Conditions of Use

• You must be at least 18 years of age
• You must be resident or operating within the Federal Republic of Nigeria
• You must hold a valid BVN or NIN
• All information provided must be accurate, complete, and up to date
• You must not be barred from receiving financial services under any applicable Nigerian law

All users must complete KYC verification per the CBN three-tier KYC framework. BVN and NIN verification is performed in real time via NIBSS and NIMC. Self-declaration alone does not satisfy any KYC tier (CBN 2024 circular).

4.1 Your Virtual Bank Account

Upon successful KYC verification, you are issued a virtual bank account number by Providus Bank, a commercial bank licensed by the CBN. All funds in your wallet are:

• Held in trust by Providus Bank — a CBN-licensed deposit money bank
• Protected by NDIC deposit insurance coverage
• Segregated from BettaLyfe's own operational funds at all times

BettaLyfe Digital Services Limited is not a bank and does not hold your funds directly. Providus Bank holds all user funds under a sub-account arrangement.

4.2 Wallet Funding

A 0.5% infrastructure fee (capped at N500 per transaction) is applied by the payment API provider. This fee is charged by the provider, not by BettaLyfe.

4.3 Permitted Wallet Uses

• Purchase MyBettaCare health insurance premiums
• Pay utility bills (airtime, data, electricity, cable TV)
• Purchase BettaCredit service credits or Gift Cards
• Repay active loan products (via Unicorn MFB)

5.1 Nature of BettaCredit

BettaCredit is a prepaid service credit — not a bank deposit, e-money wallet, stored value instrument, or investment product. Purchasing BettaCredit means pre-paying for future BettaLyfe services. BettaCredit is:

• Redeemable exclusively for services on the BettaLyfe Platform
• Non-transferable to third-party bank accounts or other financial platforms
• Not a regulated financial instrument under CBN banking or payment regulations
• Not interest-bearing

5.2 Gift Cards

• Denominations: N1,000 minimum to N50,000 maximum per card
• Valid for 12 months from the date of purchase
• Can be gifted to any BettaLyfe user by sharing the card code
• Non-refundable once redeemed. Cannot be exchanged for cash under any circumstances.

5.3 BettaCredit Validity and Refunds

Unused BettaCredit balances are valid for 12 months from purchase. Refundable to your wallet (not as cash) on account closure in good standing if balance exceeds N500. Forfeited on accounts terminated for breach of these Terms.

6.1 Insurance Underwriters

MyBettaCare health insurance plans are underwritten and administered by:

• AXA Mansard Insurance Plc — a NAICOM-licensed insurer
• NEM Insurance Plc (NEM Health) — a NAICOM-licensed insurer

BettaLyfe Digital Services Limited acts as a technology distribution and enrolment partner only. BettaLyfe is not an insurer and does not underwrite any risk.

6.2 Plan Activation

Health coverage activates after full premium payment, completion of the enrolment form, and expiry of any applicable waiting period stated in your plan.

6.3 Policy Documents

The specific terms, benefits, exclusions, and limitations of each plan are set out in the Policy Certificate and Plan Schedule issued by AXA Mansard or NEM Health at enrolment. These documents govern your insurance contract and take precedence over any Platform descriptions.

6.4 Claims

All claims are assessed and settled by the licensed underwriter (AXA Mansard or NEM Health). BettaLyfe is not liable for insurance claims, claim denials, or disputes with the insurer.

6.5 Health Data Consent

By enrolling in MyBettaCare, you give explicit consent to BettaLyfe and the relevant insurer processing your health data for coverage purposes. You may withdraw this consent, but doing so will terminate your health coverage.

BettaLyfe's Personal Pension Plan (PPP) product is offered in partnership with licensed Pension Managers, a PFA licensed by PenCom. BettaLyfe acts as a technology interface and enrolment agent only. All pension activities are governed by the Pension Reform Act 2014 (as amended). You may access up to 40% of your Personal Pension Plan (PPP) balance for urgent financial needs, subject to your Pension Manager's processing timeline.

8.1 Lending Partner

All loan products on the BettaLyfe Platform are originated, underwritten, disbursed, and collected by Unicorn Microfinance Bank (Unicorn MFB), a microfinance bank duly licensed by the Central Bank of Nigeria (CBN). BettaLyfe acts solely as a technology origination and distribution channel. Your binding loan contract is directly with Unicorn MFB, not with BettaLyfe. BettaLyfe is registered with the Federal Competition and Consumer Protection Commission (FCCPC) in compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending (DEON) Regulations 2025.

8.2 Interest Rate and Annual Percentage Rate (APR)

Loan interest rates are determined by Unicorn MFB based on your credit profile and loan tenor. Rates are clearly disclosed to you in the Loan Agreement before you accept any offer. The maximum effective Annual Percentage Rate (APR) — including all interest, fees, and charges — will not exceed 36% per annum on this Platform. The actual rate applicable to your loan will be shown in your personalised loan offer.

8.3 Fees and Charges

All fees are disclosed in plain language in your Loan Agreement prior to disbursement. No hidden charges apply.

8.4 Representative Example

8.5 Loan Eligibility

To apply for a loan you must: (a) hold a verified BettaLyfe account with minimum Tier 2 KYC; (b) pass Unicorn MFB's credit assessment; (c) execute a Loan Agreement with Unicorn MFB before any funds are disbursed.

8.6 Repayment

Your repayment schedule, due dates, and exact amounts are set out in the Loan Agreement provided before acceptance. Repayment is made via your BettaLyfe wallet. You may repay early at any time without penalty.

8.7 Default and Consequences

Failure to repay per your Loan Agreement may result in: automatic deduction from your BettaWallet balance, reporting of your credit performance to licensed credit bureaus, restriction of your BettaLyfe account, and legal recovery action by Unicorn MFB. BettaLyfe will never contact your phone contacts, access your call logs or messages, or use abusive recovery practices. Debt collection will be conducted lawfully and respectfully in compliance with the FCCPC DEON Regulations 2025.

8.8 Data Used for Loan Processing

BettaLyfe collects and shares with Unicorn MFB only the personal and financial data strictly necessary to assess and process your loan application. This includes your BVN-verified identity data, account transaction history, and credit bureau data. No access to your phone contacts, photos, or private messages is collected or requested. Your explicit consent is obtained before any data is shared. You may withdraw consent at any time, which will halt any pending loan processing.

Airtime, data, electricity, and cable TV payments are processed through licensed payment aggregator partners. BettaLyfe is not the primary utility provider. Disputes over utility service delivery should be directed to the relevant utility company.

By using BettaLyfe, you acknowledge that:

• All transactions are monitored for suspicious activity per the Money Laundering (Prevention and Prohibition) Act 2022
• BettaLyfe is required to report suspicious transactions to the NFIU within 24 hours
• Providing false registration or transaction information is a criminal offence under Nigerian law
• BettaLyfe may freeze or suspend your account pending AML investigation without prior notice
• You will not use the Platform for money laundering, terrorism financing, or any illegal purpose

BettaLyfe reserves the right to introduce or modify fees with at least 14 days' prior notice to users.

• Providing false, misleading, or fraudulent registration or transaction information
• Using the Platform for money laundering, terrorism financing, or any illegal activity
• Processing transactions on behalf of third parties without authorisation
• Attempting to reverse-engineer, hack, scrape, or interfere with the Platform
• Impersonating BettaLyfe staff, agents, or any licensed partner

All content, trademarks, brand names, logos, and software on the Platform are the exclusive property of BettaLyfe Digital Services Limited. BettaLyfe and BettaWallet are trademarks of BettaLyfe Digital Services Limited.

BettaLyfe is a technology platform facilitating access to financial services. We are not a bank, insurer, or pension fund administrator. BettaLyfe shall not be liable for:

• Indirect, incidental, or consequential losses
• Service interruptions caused by third-party infrastructure
• The independent acts of Providus Bank, AXA Mansard, NEM Health, Unicorn MFB, or Pension Managers

1. Step 1: Customer Support — support@bettalyfe.com (response within 5 business days)
2. Step 2: Complaints Officer — complaints@bettalyfe.com (if unresolved in 14 days)
3. Step 3: Refer to the relevant regulator — CBN, NAICOM, PenCom, or NDPC as applicable
4. Step 4: Arbitration under the Arbitration and Conciliation Act of Nigeria

These Terms are governed exclusively by the laws of the Federal Republic of Nigeria. All disputes are subject to the jurisdiction of Nigerian courts.