List Of Contents

  1. Introduction
  2. Services
  3. User
  4. Account
  5. License
  6. Personal Information, Notification and Communication
  7. Confidentiality
  8. Fund/Portfolio Manager services
  9. Fee and Expenses
  10. Disclaimer and Limit of Liability
  11. Indemnification
  12. Anti-Money Laundering
  13. Termination
  14. User Limitations
  15. General Terms

1. Introduction

  • 1.1. E-Saver is a product of PFI Capital Limited (“PFI” or “We”). Please carefully read and understand these Terms and Conditions (“Terms”) [and any amendments made thereto from time to time by PFI] before accessing the App or making use of any of the Services.
  • 1.2. By accessing E-Saver (through the website or mobile application [“Platforms”]) or by using any of the services of E-Server (“Services”), you accept our Terms contained herein.
  • 1.3. These T&Cs, together with the Privacy Policy of E-Saver (our “Privacy Policy”) set out the complete provisions upon which we will provide you with our Services.
  • 1.4. These T&Cs are subject to change from time to time at our sole discretion. Any variation to these T&Cs shall be updated on this page and shall take effect on the date of publication. Your continued use of the Services constitutes your agreement to be bound by the new T&Cs including the amendment.
  • 1.5. Our contract including the contractual obligation with you and vice versa will become effective from the date of your acceptance of these T&Cs.

2. Our Services

  • 2.1. E-Saver is a product of PFI in collaboration with our Affiliates. E-Saver provides a saving and investment opportunity available on the Platforms. As licensed fund managers and advisors and with our trusted affiliates, we manage your saving and investment.

3. User

  • 3.1. By accessing E-Saver on any of the Platforms or any of our Services for any reason, you will be considered as a “User” under this Terms and Privacy Policy.
  • 3.2. By registering on any of our Platforms for the provision of our Services, you will be considered as a “Client” under this Terms and Privacy Policy. As a Client, you may be required to enter into an additional agreement with us for the provision of any specific Service. Such additional Agreement shall be in addition to this Terms and the Privacy Policy.
  • 3.3. E-Saver and its Services are intended solely for individuals who are 18 years or older. Any access to or use of our Services by any individual under 18 years is a violation of our Terms and unauthorised. By accessing or using our Services, you represent and warrant that you are 18 year or older.

4. Account

  • 4.1. As a Client, you will be required to open and operate an account (“Account”). You represent and warrant that all information provided in the registration form is complete and accurate
  • 4.2. This account is secured by a password of your choice. You are responsible for safeguarding your password and other information on your account. By using the Services, you represent to:
    • 4.2.1. keep your password confidential;
    • 4.2.2. notify us in writing immediately (using our contact details provided herein) if you become aware of any disclosure of your password; and
    • 4.2.3. be solely responsible for any activity under your Account whether or not you have authorised such activities or arising out of any failure to keep your password confidential, and that you may be held liable for any losses arising out of such a failure.
    • 4.2.4. Your Account shall be used exclusively by you and you shall not transfer your Account to any third party. If you transfer your Account or your password or you authorize any third party to manage or use your Account on your behalf or for any reason, you do so at your own risk.
  • 4.3. Except as expressly stated in these Terms, the Platform and the Services are reserved for personal and non-commercial use
  • 4.4. We may suspend or cancel your Account or decline a request for any Service, at any time in our sole discretion and without notice or explanation, providing that if we cancel any services you have paid for but not received, and you have not breached this Terms of Use, we will refund you the amount paid for the product.
  • 4.5. You may cancel your account on our Platform by contacting us as provided herein.

5. License

  • 5.1. We hereby grant you a revocable, non-transferable, non-exclusive license to use and operate an account under E-Saver using any of its Platform and the Services, subject to your conformity to the Terms. We reserve all the right to revoke this license for any reason and other rights over the Platform.
  • 5.2. The license granted to you above does not extend to the reproduction, duplication, modification, sale or resale or distribution without our express written consent.
  • 5.3. You covenant not to circumvent, disable, or otherwise interfere with security-related features of E-Saver or features that prevent or restrict the use or copying of any content or User information.

6. Personal Information, Notification and Communication

  • 6.1. You hereby agree and authorize us to conduct background checks and verify personal information provided by you on the Platform or in connection with your use of any of the Services against the information held about you by any relevant Service Provider.
  • 6.2. You hereby agree and authorize E-Saver to access and verify information on your device including, but not limited to, data relating to your phone (including, without limitation, your phone’s history), your device identification, the GPS on your device, your application list, your contact list.
  • 6.3. You agree to indemnify and hold PFI and the Service Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such personal information to third-party and other relevant organizations that we deem fit for disclosure.
  • 6.4. To provide you with our Services, we will need to provide you with various types of alerts via email, SMS, mobile notification, or in-account notifications. Our alerts may contain some of your personal information (excluding your password) or details on your portfolio. Depending on the nature of the alert, this information will be available to anyone in possession of your device.
  • 6.5. We may also market our similar products with you. You may unsubscribe from our marketing emails by following the instruction on the email.
  • 6.6. We will never request your password from you or include your password in any communication to you.

7. Confidentiality

  • 7.1. All information and documents obtained by E-Saver which are not published or otherwise publicly available shall be kept confidential and not disclosed to third parties or the public. This restriction shall not apply to any information disclosed to legal advisers, or to a third party to the extent that this is required, by any court of competent jurisdiction, or by a governmental or regulatory authority in Nigeria. This covenant shall survive termination of this Agreement.

8. Fund/Portfolio Manager services

  • 8.1. The Client hereby appoints PFI as its portfolio manager and grants a limited Power of Attorney with discretionary trading authority to manage and trade the assets in the Account. PFI accepts this appointment under the terms and conditions set forth in this Terms [including any subsequent amendment].
  • 8.2. Our authority will include the ability to manage your account utilizing your selected investment model to:
    • 8.2.1. buy, sell and trade securities;
    • 8.2.2. invest in and trade in pooled investment vehicles (“Funds”)
    • 8.2.3. manage cash balances within your Account and
    • 8.2.4. periodically rebalance your portfolio
  • 8.3. You acknowledge that:
    • 8.3.1. PFI will deliver the Services exclusively through the Platform;
    • 8.3.2. PFI may provide Services in person, over the phone, or through any other medium, other than through the Platform; and
    • 8.3.3. with respect to Accounts where we have the discretion to effect trades without your prior consultation or approval, you may contact PFI by email during its business hours regarding technical questions about the Platform or Services.
  • 8.4. You acknowledge that PFI does not provide:
    • 8.4.1. comprehensive financial planning services, and its Services are not a complete investment program;
    • 8.4.2. tax, accounting or legal advice. You are encouraged to consider additional asset classes, strategies and investments to supplement your overall plan; and to consult with your tax advisor regarding any tax consequences related to your account.

9. Fee and Expenses

  • 9.1. Advisory Fee
  • 9.2. Other Fees
  • 9.3. Fee Payment

    By agreeing to these Terms, you authorize PFI to deduct any fees applicable to your Account directly from your Account (the “Account Fees”).

    Payment of fees generally will be made first from Account assets in cash, next from the liquidation of cash equivalents, and finally from the liquidation of securities held in your Account. Until you terminate your Account, you will be deemed to reaffirm continuously your agreement that PFI may deduct the Account Fees from your Account.

10. Disclaimer and Limit of Liability

  • 10.1. You understand and acknowledge that the investment results you could obtain from investment information and financial insights provided by PFI cannot be guaranteed and that PFI cannot be held responsible. All investments entail a risk of loss and that you may lose money.
  • 10.2. Investment management services may be offered to individuals who become Clients, at the sole discretion of PFI. Your election to engage our savings and investment services are subject to your explicit enrolment and acceptance of these Terms.
  • 10.3. As a User, you agree and understand that your use of E-Saver is for educational purposes only and is not intended to provide legal, tax or financial planning advice. You agree as a User that you are responsible for your own investment research and investment decisions, that PFI is only one of many tools you may use as part of a comprehensive investment education process, that you should not and will not rely on PFI as the primary basis of your investment decisions and, except as otherwise provided for herein, PFI will not be liable for decisions/actions you take or authorize third parties to take on your behalf based on the information you receive as a User of PFI or information you otherwise see on our website.
  • 10.4. You understand and agree that we provide the Services for other Clients. You further understand that we and our affiliates may take investment action on behalf of such other Clients, which differ from investment action taken on behalf of your account.
  • 10.5. You recognize that there may be loss or depreciation of the value of any investment and the assets due to the fluctuation of market values, and accordingly, the value of your Account will change and may decrease. You represent that we have not made any guarantee, either oral or written, that your investment objective will be achieved or that the value of any Account assets will not decline. Nothing in this Agreement may be interpreted to limit or modify our fiduciary duties to you and nothing in this Agreement shall be deemed a waiver of any right or remedy that you may have under the applicable laws.
  • 10.6. Your use of the E-Saver Platform, and the personal information you provide is at your sole discretion. PFI's website and all materials, information, products and services included therein, are provided on an AS IS and AS AVAILABLE basis without warranties of any kind from PFI.
  • 10.7. PFI expressly disclaims all warranties of any kind, express, implied or statutory, relating to its website, content and/or user information, including without limitation the warranties of title, merchantability, fitness for a particular purpose, non-infringement of proprietary rights, course of dealing or course of performance.
  • 10.8. PFI disclaims any warranties, express or implied:
    • 10.8.1. regarding the availability, security, accuracy, reliability, timeliness and performance of the Platform, content and/or user information;
    • 10.8.2. that the Platform will be error-free or that any errors will be corrected;
    • 10.8.3. that the Platform will be free from electronic viruses; or
    • 10.8.4. regarding the performance of or the accuracy, quality, currency, completeness or usefulness of any information provided on the Platform including but not limited to information obtained through social media.
  • 10.9. No advice or information, whether oral or written, obtained by you from the Platform, shall create any warranty not expressly stated in these Terms. If you choose to rely on such information, you do so solely at your own risk.
  • 10.10. PFI shall also not be liable for any act or failure to act by any third party.

11. Indemnification

  • 11.1. You hereby indemnify us and undertake to keep us indemnified, against any and all losses, damages, costs, liabilities and expenses (including but not limited to legal expenses and any amounts paid by us to any third party in settlement of a claim or dispute) incurred or suffered by us and arising directly or indirectly out of your use of our Platform or any breach by you of any provision of this Terms of Use.
  • 11.2. PFI shall not be liable for any loss affecting the assets held by it on behalf of the Client, where such losses are the result of unforeseen adverse market conditions, government restrictions, exchange or market rulings or suspension of trading.

12. Anti-Money Laundering

  • 12.1. You represent and warrant the following and shall promptly notify PFI if any of the following cases to be true and accurate:
    • 12.1.1. to the best of your knowledge based on appropriate diligence and investigation, none of the cash or assets that will be managed by PFI has been or shall be derived from or related to any activity that is deemed to be in contravention of the Money Laundering (Prohibition) Act 2011 (“AML Laws”);
    • 12.1.2. No contribution or payment by you to PFI shall cause PFI to be in violation of the AML Laws
  • 12.2. We are under an obligation to comply with AML Laws and where we discover you are in breach of AML Laws, we will make reports to the relevant authorities and act as instructed by the authorities.

13. Termination

  • 13.1. You can terminate this arrangement anytime by deleting your account with E-Saver. We may terminate or suspend your access to E-Saver, at any time without prior notice to you if your account is found to be fraudulent or for any other reason.

14. User Limitations

You shall not:
  • 14.1. infringe on the intellectual property rights of, or violates the privacy rights of, any third-party (including without limitation copyright, trademark, patent, trade secret, or other intellectual property rights, moral right, or right of publicity);
  • 14.2. introduce any software viruses or any other computer code, files, or programs designed to (i) interrupt, destroy, or limit the functionality of any computer software; or (ii) interfere with the access of any user, host or network, including without limitation overloading, flooding, spamming, mail-bombing, or sending a virus to E-Saver;
  • 14.3. use any meta tags or other hidden text or metadata utilizing a PFI name, trademark, URL or product name;
  • 14.4. forge any TCP/IP packet header or any part of the header information in any posting, or in any way use PFI to send altered, deceptive, or false source-identifying information;
  • 14.5. Interfere with or disrupt (or attempt to interfere with or disrupt) any E-Saver web page, server, or network, or the technical delivery systems of PFI's providers, or disobey any requirements, procedures, policies, or regulations of networks connected to E-Saver;
  • Attempt to probe, scan, or test the vulnerability of any E-Saver system or network or breach or impair or circumvent any security or authentication measures protecting E-Saver;
  • 14.7. Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software used to provide E-Saver;
  • 14.8. Attempt to access, search, or meta-search PFI or content thereon with any engine, software, tool, agent, device, or mechanism other than software and/or search agents provided by PFI or other generally available third-party web browsers, including without limitation any software that sends queries to PFI to determine how a website or web page ranks;
  • 14.9. Violate the terms of use or any other rule or agreement applicable to you or PFI's inclusion in, reference to, or relationship with any third party or third-party site or service, or your use of any such third-party site or service; Collect or store personal information about other users without their express permission;
  • 14.10. Impersonate or misrepresent your affiliation with any person or entity, through pretexting or some other form of social engineering, or commit fraud;
  • 14.11. Solicit any User for any investment or other commercial or promotional transaction;
  • 14.12. Violate any applicable law, regulation, or ordinance;
  • 14.13. Scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work);
  • 14.14. Use, launch, or permit to be used any automated system; or
  • 14.15. Use the E-Saver or content thereon in any manner not permitted by these Terms of Use

15. General Terms

  • 15.1. In the event that any provision in these Terms is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect. The failure to enforce any right or provision of these Terms will not be deemed a waiver of such right or provision.
  • 15.2. PFI may assign any rights hereunder without your consent. The relationship of the parties under these Terms of Use is that of independent contractors, and these Terms of Use will not be construed to imply that either party is the agent, employee, or joint venture of the other.
  • 15.3. The use of E-Saver shall be limited to Nigeria and the laws of the Federal Republic of Nigeria shall govern the relationships.