Master Loan Agreement

2. Definitions

For purposes of this Agreement:

• "Account" means the Borrower's Ricchezza Wallet and/or any bank account linked to the Borrower's BVN.
• "BVN" means the Bank Verification Number issued under the CBN BVN Framework.
• "CRMS" means the Central Bank of Nigeria Credit Risk Management System.
• "Credit Bureau" means any CBN-licensed credit reporting agency.
• "DPD" means Days Past Due.
• "GSI" means the Global Standing Instruction mechanism established by the Central Bank of Nigeria.
• "Loan Offer" means the electronic loan terms presented to the Borrower prior to acceptance.
• "Obligor Account" means any account linked to the Borrower's BVN across Nigerian financial institutions.
• "Borrower" means any individual or entity who applies for and accepts a loan through the Ricchezza platform.
• "Platform" means the Ricchezza mobile application, web interface, USSD service or any digital channel used for loan services.
• "Loan" means any credit facility granted by Ricchezza to the Borrower.

3. Grant of Facility

1. The Lender may, at its sole discretion, grant a Loan to the Borrower following credit assessment conducted via automated decision systems and/or internal underwriting processes.
2. The approved Loan amount, applicable interest or fees, tenure, and repayment date shall be communicated via the Loan Offer.
3. The Loan shall become effective upon the Borrower's electronic acceptance and disbursement into the Borrower's wallet.
4. The Lender reserves the right to reduce, withdraw, suspend or cancel any Loan Offer prior to disbursement and to review and adjust credit limits periodically.
5. The Borrower represents that they are at least 18 years old and legally capable of entering into binding financial agreements.
6. Ricchezza reserves the right to decline any loan application without obligation to provide reasons.

4. Interest, Fees and Repayment

1. The Loan shall attract interest and/or fees as specified in the Loan Offer.
2. Interest may be calculated on a flat-rate basis or a daily reducing balance basis.
3. Repayment shall be due on the Payment Due Date stated in the Loan Offer.
4. Upon default, the outstanding loan amount shall attract default interest or penalty charges at the rate specified in the Loan Offer until full repayment, subject to applicable regulatory limits.
5. All payments shall be made in Nigerian Naira.

5. Repayment Authorization and Direct Debit

The Borrower irrevocably authorizes Ricchezza to:

1. Debit the Borrower's Ricchezza Wallet on the Payment Due Date.
2. Initiate automated debit instructions for repayment of the Loan.
3. Apply any inbound wallet credits toward outstanding loan obligations.
4. Debit any linked repayment account or payment instrument.
5. Re-attempt debit multiple times without further notice until repayment is satisfied.
6. Restrict or suspend withdrawals where the Loan is overdue.

6. Global Standing Instruction (GSI)

In accordance with the CBN Global Standing Instruction (GSI) Guidelines, the Borrower hereby:

1. Irrevocably authorizes Ricchezza to initiate a Global Standing Instruction mandate through a participating financial institution and the Nigeria Inter-Bank Settlement System for recovery of outstanding loan obligations.
2. Consents that upon default of the Loan obligation, the Lender may instruct NIBSS to recover the outstanding principal, accrued interest, fees, and related charges from any and all accounts maintained by the Borrower across all Participating Financial Institutions linked to the Borrower's BVN.
3. Agrees that recovery may be made from savings, current, domiciliary, investment, or any deposit account linked to the Borrower's BVN, without further notice once default has occurred.
4. Acknowledges that the GSI mandate shall remain valid until the Loan obligation is fully liquidated and that the Lender may report the default to the CRMS and Credit Bureaus.
5. Waives any right of confidentiality in respect of recovery under the GSI framework, in line with applicable CBN regulations.
6. Understands that this GSI mandate is separate from, and in addition to, other recovery rights available to the Lender under law.

7. Set-Off Rights

Without prejudice to GSI rights, the Lender may:

1. Set off any outstanding Loan obligation against funds held in the Borrower's wallet, any deposit or savings account with the Lender, or any affiliated financial product.
2. Apply inbound transfers toward outstanding indebtedness.
3. Apply any funds received from the Borrower through the Ricchezza platform toward settlement of outstanding loan obligations.

8. Events of Default

An Event of Default occurs where:

• The Borrower fails to repay on the due date.
• False information is provided.
• Fraud or financial misconduct is detected.
• The Borrower becomes insolvent.
• Any representation or warranty proves untrue.
• Failure to comply with any repayment schedule.
• Death or incapacity affecting repayment ability.

9. Consequences of Default

Upon default, the Lender may:

• Activate GSI.
• Report to CRMS and Credit Bureaus.
• Engage recovery agents.
• Institute legal proceedings.
• Recover legal and enforcement costs.
• Restructure or accelerate the Loan.
• Freeze wallet operations.
• Recover reasonable legal, recovery and enforcement costs incurred in pursuing repayment.

10. Credit Reporting and Disclosure

The Borrower authorizes the Lender to:

• Conduct credit checks before and after disbursement.
• Share repayment behavior with CRMS and Credit Bureaus.
• Disclose information to regulatory authorities where required.
• Access and verify the Borrower's BVN information through authorized systems for credit assessment and recovery purposes.

11. Data Protection

Personal data shall be processed in accordance with:

• Nigeria Data Protection Regulation (NDPR).
• Applicable CBN Data Governance Guidelines.

The Borrower consents to cross-border data processing where necessary for service delivery.

12. AML/CFT Compliance

The Lender reserves the right to:

• Request enhanced due diligence documentation.
• Freeze accounts under AML investigation.
• Report suspicious activity to appropriate authorities.

13. Group Lending (Where Applicable)

Where the Borrower participates in a group facility:

• Each member remains individually liable.
• Default may affect group eligibility.
• Additional group undertakings may apply.

14. Limitation of Liability

To the extent permitted by law, the Lender shall not be liable for:

• System failures.
• Third-party banking delays.
• Force majeure events.

Ricchezza's total liability arising under this Agreement shall not exceed the outstanding principal amount of the Loan.

15. Indemnity

The Borrower agrees to indemnify the Lender against any loss, damage, or regulatory penalty arising from:

• Misrepresentation.
• Fraudulent conduct.
• Breach of this Agreement.

16. Amendment

Ricchezza may amend this Agreement from time to time by providing notice through the platform or registered communication channels.

17. Assignment

The Lender may assign its rights without the Borrower's consent. The Borrower may not assign obligations.

18. Governing Law

This Agreement shall be governed by the laws of the Federal Republic of Nigeria. The Courts of Nigeria shall have jurisdiction.

Execution

By selecting "I Agree" electronically, the borrower confirms the following legally binding declarations:

• Acknowledges full understanding of this Agreement;
• Provides legally binding electronic signature;
• Authorizes Direct Debit and GSI mandate in accordance with CBN regulations;