Terms of Service

Welcome to MamaSave. These Terms of Service (“Agreement” or “Terms”) form a legally binding contract between you (“User”, “Member”, “Contributor” or “you”) and MamaSave Eliozu Multipurpose Co-operative Society Limited (MamaSave Cooperative Ltd) (“the Cooperative”, “MamaSave”, “we”, “us” or “our”), the entity that operates the MamaSave savings and member services platform, accessible via mamasave.ng and our associated mobile applications. Technology and payment gateways are powered by Pearl Systems Ltd.

By creating an account, accessing our portal, or engaging our field collection agents, you acknowledge that you have read, understood and agree to be bound by these Terms, alongside our Privacy Policy. If you do not agree, you must immediately stop using the platform and services.

To register and use MamaSave services, you must satisfy the following conditions:

• You must be an individual resident in the Federal Republic of Nigeria, or a legally registered micro-enterprise operating within a designated local market zone.
• You must be at least 18 years of age and have the legal capacity to enter into binding financial contracts.
• You must provide true, accurate, current and complete registration details, including your full legal name, an active Nigerian mobile number and any required government-issued identifiers.
• You may not open or maintain more than one active MamaSave account. Multiple accounts mapped to a single individual or device are treated as a material safety violation and may trigger automatic suspension.

Opening an account enrols you as a member of the Cooperative and makes you subject to its registered bye-laws.

MamaSave is a member-owned cooperative operating a digital savings ledger, micro-savings tracking tool and community contribution pipeline. You acknowledge and agree that:

• The Cooperative is a registered multipurpose cooperative society using financial technology. It is not a commercial bank or a licensed deposit money bank.
• All core banking services, dedicated virtual account management, fund collection and settlement infrastructure are provided exclusively through our licensed partner commercial banks, microfinance banks and payment service providers authorised by the Central Bank of Nigeria.
• Member funds are held with our licensed partner institutions and are subject to the protections available under Nigerian financial law.

Contribution rules. Members may join periodic savings plans such as daily Akawo, fixed goals, or group cycles. Contributions are logged electronically through automated bank transfers to your assigned virtual account, or through cash handled by our authenticated field collection agents.

Agent ledger tracking. If you hand cash to a MamaSave field collection agent, ensure the agent logs the transaction in their app in your presence. Your transaction is only validated once you receive an automated SMS or app notification generated by our servers. We accept no liability for unlogged cash handovers made outside the verified app framework.

Payouts and cycle completion. Withdrawals and payouts follow the rules of your selected plan. Early termination or premature liquidation of an active cycle may attract an administrative break fee or forfeiture of accrued yield bonuses, as disclosed before you lock the plan.

Rotational schemes. In turn-by-turn and Committee of Friends circles, payout order is fixed at circle creation. Failure to contribute on schedule may lead to suspension from the circle and recovery of amounts owed.

MamaSave provides a community funding framework allowing members to pool resources for communal development, emergency relief or peer support.

• Contributions to a community link are voluntary and final.
• Funds raised through a community link are paid out to the verified destination wallet established when the pool was created.
• We make no representation about the character, purpose or performance of individual campaign owners. Verify peer authenticity before sending funds.

In line with the Central Bank of Nigeria’s Know-Your-Customer and AML/CFT directives, we use third-party identity validation services to cross-reference your profile details against your Bank Verification Number and National Identification Number records.

• By submitting your BVN or NIN, you grant lawful permission for us to pull validation data to protect your account against identity theft.
• We will never use your BVN for unauthorised purposes, disclose it to unauthorised parties, or alter your commercial banking records.

You agree that you will not use MamaSave to carry out or support any of the following:

• Depositing or moving funds derived from illegal sources, scams, fraud or extortion.
• Sharing your account credentials, transaction passwords or security PINs with anyone, including field agents or support staff.
• Using scrapers, malicious scripts, emulators or multi-account spoofers designed to bypass our device limitation controls.
• Verbal abuse, harassment or intimidation directed at our field collection agents or helpline staff.

Breach of this section carries zero tolerance and may lead to immediate account freezing, loss of service access, and a formal report to the Economic and Financial Crimes Commission or the Nigeria Police Force.

The Cooperative currently operates as a savings, wallet and wealth-building engine. Where the platform contains modules relating to member lending or cash advances, those features are controlled by a global administrative switch.

Unless a credit feature is explicitly enabled following receipt of all applicable state moneylender or federal regulatory approvals, lending features remain decoupled and inaccessible. The presence of disabled credit screens in the software creates no active lending contract or credit obligation.

Availability. While we use enterprise-grade cloud infrastructure to run mamasave.ng and process transaction webhooks, we do not guarantee uninterrupted uptime. Maintenance, telecom network drops or banking switch downtime may cause temporary delays in balance updates.

Liability cap. To the maximum extent permitted by Nigerian law, the Cooperative, its officers, employees and partners shall not be liable for indirect, incidental, special or consequential damages, loss of profit or revenue caused by platform latency, transaction delays by external banking networks, or user-side negligence such as a compromised device or leaked PIN.

In all cases, our cumulative maximum liability to any member for a verified loss arising directly from our platform calculation errors is capped at the total service fees paid by that member to MamaSave in the three (3) months preceding the incident. This cap does not limit a member’s entitlement to their verified savings balance.

The MamaSave brand name, the domain mamasave.ng, the application software, logos, interface designs, code, graphics and database architecture are proprietary intellectual property licensed for use by the Cooperative. Nothing in this Agreement grants you a licence or right to copy, modify, distribute or reverse-engineer the platform or its source code without explicit written consent.

You agree to indemnify, defend and hold harmless the Cooperative, its partner financial institutions, officers and field agents from any third-party claims, liabilities, damages, losses or legal costs arising from your misuse of the platform, breach of these Terms, or infringement of another member’s data privacy rights.

Daily agent briefing. Field collection agents receive an automated daily briefing of market zone expectations at approximately 7:00 AM West Africa Time.

Settlement cut-off. All physical cash matching logged digital requests must be routed and deposited into the Cooperative’s settlement account before the daily operational cut-off at 5:00 PM WAT. Late transactions resolve on the next business cycle.

We may suspend or close an account where we suspect fraud, misrepresentation, or breach of these Terms or the Cooperative bye-laws. Verified member balances remain payable to the member, subject to lawful deductions and completion of identity checks.

You may leave the Cooperative and close your account at any time, subject to settling outstanding obligations in any active rotational circle or locked plan.

Applicable fees are published on our Fees page and displayed before you confirm a transaction. We may update these Terms to reflect changes in the law, regulation or our services. Material changes will be notified in the app or by email before they take effect, and continued use of the platform after that date constitutes acceptance.

Governing law. These Terms are governed and enforced in accordance with the laws of the Federal Republic of Nigeria, including applicable cooperative societies legislation.

Internal resolution. In the event of a dispute or ledger disagreement, you agree to first lodge a formal dispute with compliance@mamasave.ng. Both parties will spend a minimum of fourteen (14) business days attempting amicable resolution.

Judicial recourse. Where mediation fails, the dispute shall be submitted to the exclusive jurisdiction of the High Court of Rivers State, where the Cooperative maintains its registered corporate headquarters.

If any provision of these Terms is found unlawful, void or unenforceable by a court of competent jurisdiction, that provision shall be severed without affecting the validity of the remaining provisions. Together with the Privacy Policy, the AML/CFT Policy and the Cooperative bye-laws, this document represents the entire agreement between you and the Cooperative regarding your use of MamaSave.

For questions about these Terms, platform rules or account closure, contact our administrative team:

• Parent Legal Entity: MamaSave Eliozu Multipurpose Co-operative Society Limited
• Digital Platform Name: MamaSave
• Official Corporate Website: https://mamasave.ng
• Enquiry & Support Email: support@mamasave.ng
• Compliance & Disputes Email: compliance@mamasave.ng
• Registered Corporate Address: 74 G.U. Ake Road (Eliozu Road), Eliozu, Port Harcourt, Rivers State