Legal
Terms and Conditions
Please read these terms carefully before using Kova.
Last Updated: 11 March 2026
About Kova and These Terms
Kova Technologies Ltd ("Kova", "we", "us", or "our") is a company registered under the Companies and Allied Matters Act (CAMA) 2020, headquartered at 278 Ikorodu Road, Anthony, Lagos, Nigeria. Kova operates as a technology platform for collective finance. Kova is not a bank, deposit-taking institution, or licensed financial institution. We work with licensed third-party partners for payment processing and identity verification. By creating an account or accessing our Services, you agree to these Terms, our Privacy Policy, and any referenced policies. Please read them carefully before using the platform.
Eligibility
To use Kova, you must:
All information you provide must be accurate and kept up to date. False or incomplete information may result in account suspension or termination.
Account Management
Creating Your Account
You will provide your full name, email address, phone number, date of birth, and a password. Identity verification through licensed KYC providers is mandatory before making contributions. Verification includes BVN, government-issued ID, proof of address, and biometric data. Your transaction limits depend on your verification tier.
Account Security
You are responsible for maintaining the confidentiality of your credentials. Notify us immediately at support@kova.finance if you suspect any unauthorized access. Kova is not liable for any loss resulting from unauthorized access caused by your failure to secure your credentials.
Groups and Goals
Any verified user may create a Group and becomes the "Organizer." A "Goal" is a shared financial objective with a target amount, purpose, and optional deadline — functioning as an independent shared wallet within the Group.
Contribution Tiers
| Tier | Role | Authority |
|---|---|---|
| Deciding Contributor | Higher contribution | Must approve all payouts |
| Active Contributor | Standard contribution | View and contribute only |
| Silent Contributor | Lower / flexible contribution | View and contribute only |
Organizer Authority
The Organizer manages membership and initiates disbursement requests but cannot unilaterally access funds. All disbursements require approval from Deciding Contributors.
Leaving a Group
Members may exit a Group at any time. Historical contribution data remains visible to other members. Existing contributions are not automatically refunded upon exit. Organizers must transfer the Organizer role before leaving.
Group Agreement and Funds
Nature of Contributions
Contributions are voluntary transfers of funds towards the stated Goal purpose. They are not deposits, investments, loans, or savings products.
Fund Custody
Funds are managed through licensed financial partners. Kova maintains internal ledgers tracking contributions in real time. Custody arrangements may evolve; material changes will be communicated to users.
Disbursement Process
Disbursements require the Organizer to initiate a request, approval from Deciding Contributors, and sufficient balance in the Goal.
Refunds
Contributions are generally irrevocable. Limited exceptions apply: full refunds if a Goal is cancelled before disbursement, or corrections for technical errors reported within 48 hours.
Disputes
Kova provides tools for transparent tracking but does not mediate interpersonal disputes between group members.
Information Visibility in Groups
When you join a Group, certain information is visible to other members to enable transparency.
Visible to Group Members
Your name, contribution tier, contribution status and amounts, approval votes, and group activity dates.
Always Private
Bank details, BVN, identity documents, phone number, email address, activity in other groups, and overall financial position.
Fees and Pricing
Payment Methods and Transactions
Kova accepts bank transfer and USSD only. Card payments are not accepted. Third-party processors handle payment execution. Kova is not responsible for delays caused by external processors. Failed transactions that are not recorded in Kova do not impact your Goal. If your bank debits you but the transaction is not recorded, contact support@kova.finance with your transaction reference and bank statement. Transaction discrepancies must be reported within 30 days.
Prohibited Activities
You may not use Kova for any of the following:
Violations may result in immediate account suspension or termination, and may be reported to relevant authorities.
Bank Transfer Reversals
By making a contribution, you authorize the corresponding bank debit and agree not to initiate a reversal except in cases of genuine unauthorized third-party access to your bank account. Fraudulent reversals may result in account suspension, legal recovery action, and reporting to law enforcement. Contact support@kova.finance before taking any banking action related to a Kova transaction.
Intellectual Property
Kova owns all intellectual property in the platform, including the mobile app, website, software, branding, designs, and content. You receive a limited, non-exclusive, non-transferable, revocable licence to use the Services for personal, non-commercial purposes only. You may not reproduce, distribute, modify, or create derivative works from any Kova intellectual property without our prior written consent.
Privacy and Data Protection
Your use of the Services is also governed by our Privacy Policy, which is incorporated into these Terms by reference. We comply with the Nigeria Data Protection Act (NDPA) 2023. Please review our Privacy Policy at kova.finance/privacy for full details on how we handle your personal data.
Disclaimers
The Services are provided "as is" and "as available." To the fullest extent permitted by law, Kova disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement. We do not guarantee uninterrupted, error-free, or completely secure access to the Services. We will provide reasonable notice of planned downtime where possible. Goal success depends entirely on group members. Kova does not guarantee that Goals will be funded or that members will contribute on time.
Limitation of Liability
To the fullest extent permitted by Nigerian law, Kova excludes liability for: • Indirect, incidental, special, consequential, or punitive damages • Disputes between group members • Delays or errors by third-party payment processors • Events beyond our reasonable control Our aggregate liability to you shall not exceed the total service fees you paid to Kova in the 12 months preceding the event giving rise to the claim. These limitations do not apply to liability arising from fraud, willful misconduct, or any liability that cannot be excluded under Nigerian law.
Indemnification
You agree to indemnify and hold harmless Kova Technologies Ltd and its officers, directors, employees, and agents from any claims, losses, damages, liabilities, and expenses (including legal fees) arising from: • Your use of the Services • Your violation of these Terms • Your violation of any applicable law • Disputes with other group members • Your negligence or misconduct
Account Suspension and Termination
Suspension by Kova
We may immediately suspend your account for Terms violations, prohibited activities, provision of false information, ongoing investigations, or legal requirements.
Termination by Kova
We will ordinarily provide 30 days' written notice of termination. Immediate termination may occur in the same circumstances as suspension.
Termination by You
You may close your account by contacting support@kova.finance. You must leave all Groups and resolve any outstanding obligations before closure.
Effect of Termination
Upon termination, your access ceases. Active goal contributions are not automatically refunded. Your data is retained as required by law. Obligations that survive termination include fund obligations, intellectual property rights, disclaimers, limitation of liability, and indemnification.
Changes to These Terms
We may update these Terms from time to time. Material changes will be communicated with at least 30 days' notice via email or in-app notification. Continued use of the Services after the effective date constitutes acceptance of the updated Terms. The current version is always available at kova.finance/terms. Last Updated: 11 March 2026
Governing Law and Disputes
These Terms are governed by the laws of the Federal Republic of Nigeria. If a dispute arises, the parties will first attempt to resolve it through good-faith negotiation. If unresolved within 30 days, the dispute will proceed to binding arbitration before a sole arbitrator under the Lagos State Arbitration Law 2009. Arbitration will be conducted in Lagos, Nigeria, in the English language.
General Provisions
Contact
If you have questions about these Terms, please contact us: General Support: support@kova.finance Data Protection Officer: dpo@kova.finance Address: 32 Sanusi Adekunle, Greenfields Estate, Lagos, Nigeria Website: kova.finance