Account Deletion Policy for Faveremit

Introduction

At Faveremit, we value your privacy and are committed to protecting your personal information. This Account Deletion Policy outlines the procedures for deleting user accounts on our platform in compliance with Nigerian laws, including the Nigeria Data Protection Regulation (NDPR).

Scope

This policy applies to all registered users of Faveremit who wish to permanently delete their accounts and associated personal data.

Steps to Request Account Deletion

• 1. Submit an Account Deletion Request

  To initiate the account deletion process, users must send a request via:

  • The in-app "Delete Account" feature located in the Settings menu, or
  • An email to support@faveremit.com with the subject line “Account Deletion Request.”
• 2. Verification of Identity

  For security purposes, users must verify their identity before their account can be deleted. This includes:

  • Providing a valid government-issued ID.
  • Confirming ownership of the email address or phone number linked to the account.
• 3. Processing the Request

  Upon receipt of a verified request:

  • Faveremit will process the deletion within 3 working days.
  • Users will receive an email notification once the account has been permanently deleted.

Data Retention and Deletion

• 1. Immediate Deletion

  Upon account deletion, Faveremit will:

  • Permanently remove all personal information linked to the account, including transaction history, saved cards, and preferences
  • Revoke access to the account and all associated services.
• 2. Retention for Legal Compliance

  Certain data may be retained as required by law, including:

  • Financial transaction records for up to seven years, in line with the Central Bank of Nigeria (CBN) guidelines.
  • Compliance records related to anti-money laundering (AML) and Know Your Customer (KYC) regulations.

Conditions That May Prevent Deletion

To access Faveremit’s services, customers must complete the KYC process by providing the following:

• 1. Outstanding Balances or Obligations

  Accounts with pending payments, unresolved disputes, or active transactions cannot be deleted until these issues are resolved.

• 2. Fraudulent or Illegal Activities

  If the account is linked to ongoing investigations for fraud or illegal activities, Faveremit will retain the data and cooperate with law enforcement as necessary.

Implications of Account Deletion

Faveremit’s KYC process includes the following steps:

• All stored balances, gift cards, and other resources will be forfeited upon account deletion. Users are advised to withdraw funds and use pending balances before submitting a deletion request.
• Deleted accounts cannot be restored. Users wishing to return to Faveremit will need to create a new account.

User Rights

Under the NDPR and applicable Nigerian laws, users have the right to:

• Request access to their personal data before account deletion.
• Rectify incorrect information in their account prior to deletion.
• Lodge a complaint with the National Information Technology Development Agency (NITDA) if their data privacy rights are violated.

Contact Us

If you have any questions or need further assistance with the account deletion process, please contact our support team:

• Email: support@faveremit.com