By accessing, viewing the Platform or using the Services through any means, you accept our terms and conditions and agree to be bound.

1. Introduction

Cowrywise Financial Technology Limited (“Cowrywise”) is registered with the Securities and Exchange Commission in Nigeria as a fund/portfolio manager. Cowrywise provides an automated savings and investment platform available on its website at and/or through its mobile applications.

1.1 Definitions

This agreement will be effective on your acceptance of its terms electronically or otherwise through the platform.

1.1.2 “APIs" means programmatic web application programming interfaces and associated tools and documentation that provide access to certain data displayed on the Platform.

1.1.3 “Applicable Law” means, any constitution, statute, law, rule, regulation, ordinance, judgement, order, decree of the Federal Republic of Nigeria, or any published directive, guideline, requirement or other governmental restriction that has the force of law, whether in effect as of the date hereof or as of any date thereafter in the Federal Republic of Nigeria.

1.1.4 “Client” means a party using and utilising our Services through our Platform.

1.1.5 “Cowrywise” means Cowrywise Financial Technology Limited.

1.1.6 “Partner Program” refers to contractual relationships entered into between Cowrywise and third-party service providers to enhance or build on Cowrywise’s product offerings.

1.1.6 “Platform” means collectively, Cowrywise’s website, mobile applications, and blog and includes any updates or replacements as may be applicable.

1.1.7 “Services” means the management of a Client’s savings and investments made through the Platform and/or other services as may be agreed between the parties but subject always to the terms of our licence.

1.1.8 “Terms of Use” means these terms of use.

1.1.9 “Users” means persons other than Clients who access the Platform through any means.

1.2 Purpose

We offer an automated savings and investment service as a licensed fund/portfolio manager. As a Client, we will use best efforts and reasonable care to manage your savings and investments made through our Platform on your behalf to maximize your returns.

These Terms of Use set out the terms and conditions under which Cowrywise will provide the Services to its Clients and under which Users may access the Platform.

In order to operate and make available the Services and utilise the Platform, Cowrywise collects, uses and discloses certain personal information about you. Cowrywise collects, uses, discloses and protects that information as described in our privacy policy, and which is hereby incorporated into these Terms of Use.

Please read the privacy policy carefully before accessing the Platform or using the Services.

References to "you" or "your" are references to any person accessing or using the Platform, and/or Services by any means.

1.3 Scope of Terms of Use

Subject to the provisions of clause 7 (Termination), these Terms of Use remain in effect until you discontinue your use of the Services/access to the Platform and all financial obligations with regard to your use of the Services have been fulfilled.

Cowrywise reserves the right to amend, modify or change any portion of the Terms of Use without prior notice to you and without your consent. Where any portion of the Terms of Use are amended or modified, such changes shall be effective immediately.

We suggest that you review these Terms of Use periodically for such changes and/or modifications. You acknowledge that by accessing our Platform and using the Services after such change/modifications, you agree to these terms as modified.

If you do not agree with these Terms of Use, please do not proceed with utilising the Platform and our Services. Please note that if you are an existing Client, these Terms of Use will apply in addition to those contained in any agreement entered into between Cowrywise and third parties in relation to provision of the Services.

2. Obligations
2.1 Eligibility

The Platform and Services are intended solely for individuals who are:

  • 18 years of age or older. (in the case of individuals) or validly registered/incorporated in Nigeria (in the case of businesses);
  • Nigerian citizens/legal residents in Nigeria;
  • Hold valid bank verification numbers.

Any access to the Platform or use of the Services by any person or entity who does not meet up with the above criteria is not allowed or permitted, and shall be in violation of these Terms of Use.

2.2 Your Access

In order to access certain features of the Platform, you must register to create an account ("User Account"). When you register, you will be asked to choose a password which you will be required to provide in order to access your User Account.

Cowrywise has physical, electronic, and procedural safeguards that comply with regulatory standards under Applicable Law to guard Users and Clients' non-public personal information (see privacy policy). You are responsible for safeguarding your password and other User Account information. You agree not to disclose your password to any third party and you will notify Cowrywise immediately if your password is lost or stolen or if you suspect any unauthorised use of your User Account.

As a User, you agree that you shall be solely responsible for any activities or actions under your User Account and that Cowrywise is irrevocably authorised to comply with any instructions received on the Services on your behalf for your use of the Services. Such instructions shall be irrevocably deemed to have been authorised by you.

You agree that the information you provide to us on account registration through our Platform will be true, accurate, current, and complete.

If you wish to develop enhancements to the Services, then you must do so via the API linked to the Partner Program. Access to the API for the Partner Program requires you meet our Partner Program eligibility criteria and enter into a signed partnership agreement with Cowrywise. You may not scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work) as explained in clause 8 (Cowrywise "Dos" and "Don'ts"). If you wish to learn more about becoming a Partner, please contact

If you do not use the Services/Platform for a certain period of time, Applicable Law may require us to report the funds in your User Account as unclaimed property. If this occurs, we may try to locate you or your next of kin at the address shown in our records. If we are unable to locate you, we may be required to deliver any funds in your User Account to the applicable state as unclaimed property. The specified period of time to report and deliver funds to a state varies by state.

In the event of death, payments of all monies/interest in a User Account shall be made in accordance with Applicable Law.

2.3 Alerts, Notifications and Service Communications

By creating a User Account, you automatically sign up for various types of alerts via e-mail and mobile notification. We never include your password in these communications, but we may include your name, or email address and information about your portfolio(s) if you are a Client. Anyone with access to your e-mail or mobile device will be able to view these alerts. You may unsubscribe from marketing oriented emails at any time.

2.4 Confidentiality

All information and documents obtained by Cowrywise or its employees, consultants or agents 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 deemed by Cowrywise as required, by any court of competent jurisdiction, or by a governmental or regulatory authority in Nigeria. This covenant shall survive termination of these Terms of Use.

3. Fund/Portfolio Manager services

The Client hereby appoints Cowrywise as its fund/portfolio manager and grants a limited power-of-attorney with discretionary trading authority to manage and trade the assets in your User Account. Cowrywise accepts this appointment under the terms and conditions set forth.

Our authority will include the ability to manage your User Account utilising your selected Cowrywise investment model to:

  • buy, sell and trade securities;
  • invest in and trade in pooled investment vehicles ("Funds")
  • manage cash balances within your User Account and
  • periodically rebalance your portfolio

You acknowledge that:

  • Cowrywise will deliver the Services exclusively through the Platform;
  • All Client assets/investments are held with a licensed custodian for safekeeping in order to minimise the risk of their misappropriation, misuse, theft, and/or loss and in accordance with Applicable Law;
  • In addition to the Platform, Cowrywise may provide Services in person, over the phone, or through any other medium; and
  • With respect to User Account where we have discretion to effect trades without your prior consultation or approval (“Discretionary Accounts”), you may contact Cowrywise by email during its business hours regarding questions about the Platform or Services.

As part of the User Account opening process, you will be required to complete a questionnaire (the “Questionnaire”) that will provide us with certain information regarding your financial situation, including but not limited to information regarding your financial situation, goals, objectives and risk tolerance. Cowrywise’s algorithmic-based technology will analyse your responses to the Questionnaire to provide a Cowrywise strategy offering, which will include a portfolio of equities, bonds and/or Funds that are suitable based on your target risk profile, your financial objectives and other information. Please note that you are not under an obligation to select this option and are strictly advised to choose a strategy based on your preference as you are solely responsible for evaluating the merits and risks associated with any investments and the options provided.

You may update your risk profile at any time by updating the responses to the Questionnaire. At a minimum, you will be prompted to review and/or update the responses to the Questionnaire on an annual basis. Your assets are used to purchase the securities to align your account to the corresponding target asset allocation within the recommended portfolio or your selected portfolio. It is your responsibility to update your information in the Questionnaire if your situation changes.

You acknowledge that Cowrywise does not provide:

  • financial planning services, and its Services are not a complete investment program;
  • tax, accounting, investment 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 User Account.

You acknowledge that neither the information, nor any opinion, contained on the Platform constitutes a solicitation or offer by Cowrywise or its affiliates to buy or sell any securities. Decisions based on information contained on the Platform are the sole responsibility of the Client/User. The information contained on our Platform is for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice. The information on this Platform does not constitute a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Although the material on our Platform is based upon information that Cowrywise considers reliable and endeavours to keep current, Cowrywise does not assure that this material is accurate, current or complete, and it should not be relied upon as such. Any opinions expressed on the Platform may change as subsequent conditions vary. Past performance is no guarantee of future results.

3.1 Savings Terms and Conditions

By using and continuing to use and/or utilise our Services/the Platform, you hereby acknowledge and undertake as follows:

  • the lock period and interest rates of all plans in our Platform shall be as stated in each savings plan (as may be revised or amended by Cowrywise from time to time) subject to Applicable Law and/or current market circumstances;
  • Cowrywise may, with or without any prior notice to the Client, revise, change or amend the applicable lock periods and/or interest rates of any of the plans on the Platform. You hereby undertake to hold Cowrywise, its directors, officers, employees, agents, successors or assigns harmless free from, and against all claims, losses, damages, liabilities, costs and expenses (including but not limited to reasonable legal fees) that may arise as a result of the provision of this clause.
3.2 Stash

Stash shall be used as a means to top up your Savings and Investment Plans, receive pay-outs from Investments, and receive funds from matured Savings Plans. On no account shall you use stash as an alternative bank account for immediate deposits and withdrawals.

By accepting to use our Platform, you agree that a 30-day holding period shall apply to your account after your first deposit. This means that you shall not be able to withdraw from your account during the holding period. Upon the expiration of the 30-day holding period, you shall be eligible to withdraw, subject to any withdrawal timelines as may be communicated by Cowrywise, from time to time.

3.3 Fee and Expenses
Advisory Fee

The management fee for each strategy is based on the aggregate net asset value in the Client’s User Account.

The annual management fee will be accrued daily and collected monthly or will be pro-rated (if a Client terminates his or her account before a month-end). Management fees will also be pro-rated based on additions or withdrawals to the User Account during the applicable billing period. If a Client requests a withdrawal that will result in insufficient assets to pay any fees that are due at the time of the withdrawal, fees will be collected at the time of the withdrawal.

Other Fees

You hereby acknowledge that you may incur certain other charges imposed by third-party financial institutions. These additional costs may include, and are not limited to bank transfer fees, transfer taxes etc. You understand that these fees are not included in the fee that you pay to Cowrywise.

Fee Payment

By using the Services, you authorise Cowrywise to deduct any fees applicable to your User Account directly from your User Account (the “Account Fees”).

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

4 Disclaimer and Limit of Liability
4.1 For a User who is not a Client

You understand and acknowledge that the investment results you could obtain from investment information and financial insights provided by Cowrywise cannot be guaranteed and that Cowrywise cannot be held responsible. All investments entail a risk of loss and that you may lose money. Your election to engage our savings and investment services are subject to your explicit enrolment and acceptance of these Terms of Use. You agree and understand that your use of Cowrywise 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 Cowrywise 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 Cowrywise as the primary basis of your investment decisions and, except as otherwise provided for herein, Cowrywise will not be liable for decisions/actions you take or authorise third parties to take on your behalf based on information you receive as a User of Cowrywise or information you otherwise see on our Platform.

4.2 Non-Exclusive Services

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, that differ from investment action taken on behalf of your account.

4.3 Investment Risks

While we provide indicative interest rates/returns with respect to certain plans on our Platform, 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 assets/interest rates (as applicable) in your User Account may or decrease based on prevailing market circumstances. 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 User Account assets will not decline.

4.4 Disclaimer Warranties

Your use of Cowrywise's Platform, and the personal information you provide is at your sole discretion. Cowrywise's Platform 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 Cowrywise.



No advice or information, whether oral or written, obtained by you from Cowrywise's Platform, shall create any warranty not expressly stated in these Terms of Use. If you choose to rely on such information, you do so solely at your own risk.

4.5 Indemnity

You hereby undertake to defend, indemnify and hold harmless the Cowrywise, its directors, officers, employees, agents, successors or assigns from and against any and all claims, losses, damages, liabilities, costs and expenses (including but not limited to reasonable legal fees) while acting in accordance with the terms of these Terms of Use and that are not a direct result of a breach of the terms herein state, bad faith, gross negligence, and material violation of Applicable Law.

Cowrywise 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.

Cowrywise shall not be liable for any act or failure to act by any third party.

4.6 Limitation of Liability


4.7 Feedback Release

We may from time to time reach out to Clients/Users to provide feedback/testimonials in respect of our Services and/or the Platform. This would usually involve the use of your images, biographical information, recordings, video/audio clips (the “Material”). You acknowledge that the Material may be used in diverse settings within an unrestricted geographic area. You hereby release Cowrywise, its representatives, employees, managers, members, officers, parent companies, subsidiaries, and directors, from all claims and demands arising out of or in connection with any use of the Material, including, without limitation, all claims for invasion of privacy, infringement of your right of publicity, defamation and any other personal and/or property rights. Additionally, you waive any right to royalties or other compensation arising or related to the use of the Material.

5. Anti-Money Laundering

You represent and warrant the following and shall promptly notify Cowrywise if any of the following ceases to be true and accurate:

  1. To the best of your knowledge (having made due and careful enquiries ), none of the cash or assets that will be managed by Cowrywise has been or shall be derived from or related to any activity that is deemed to be in contravention or breach of Applicable Law;
  2. No contribution or payment by you to Cowrywise shall cause Cowrywise to be in violation of Applicable Law.

Where we discover that the representations above are untrue or inaccurate or that our Platform and or Services are being used contrary to Applicable Law or for any suspicious transactions; as determined by us, you undertake to indemnify us against any loss, damages or expenses that we may incur as a result of it and further acknowledge that we have an obligation to report your activities to the relevant authorities without recourse to you.

6. Representations and Warranties
6.1 You represent and warrant that:
  • 6.1.1 you have full power, capacity, and authority to access the Platform/use the Services;
  • 6.1.2 the terms hereof do not violate any obligation by which you are bound, whether arising by contract or operation of law, or otherwise;
  • 6.1.3 the assets in the User Accounts are free from all liens and charges; and
  • 6.1.4 you shall promptly notify Cowrywise if any of your representations or warranties in this Agreement are no longer true or completely accurate
7. Termination

We may terminate or suspend your use of the Services, at any time without prior notice to you if your User Account is found to be fraudulent, in the case of bankruptcy/insolvency (as may be applicable), if required (acting reasonably) or, if you have breached any part of these Terms of Use.

We will fully cooperate with any law enforcement authorities or court order requesting or directing us to disclose the identity of anyone posting, publishing, or otherwise making available any User information, emails, or other materials that are believed to violate these Terms of Use. Any suspension, termination, or cancellation shall not affect your obligations to Cowrywise under these Terms of Use (including but not limited to ownership, indemnification, and limitation of liability), which by their sense and context are intended to survive such suspension, termination, or cancellation.

You may terminate your relationship with us at any time subject to specific rules/guidelines applicable to your User Account. Termination is without prejudice to rights and obligations arising prior to the date of termination.

8. Cowrywise "Dos" and "Don'ts"

Cowrywise grants you a limited and non-exclusive licence to use our Platform so long as you comply with all our rules.

8.1 Dos: You agree you will:

  1. Comply with Applicable Law;
  2. Provide accurate and updated information to us, whether reported directly or through a third party who you authorise;
  3. Use the Services solely for your personal, non-commercial use;
  4. Use your real name on your profile and keep your password confidential;
  5. Use the Services in a professional manner.

8.2 Donts: You agree you won't:

  1. Circumvent, disable, or otherwise interfere with security-related features of the Platform or features that prevent or restrict use or copying of any content or User information;
  2. Upload, email, transmit, provide, or otherwise make available:
    • any User information which you do not have the lawful right to use, copy, transmit, display, or make available (including any User information that would violate any confidentiality or fiduciary obligations that you might have with respect to the User information); or
    • any User information that infringes 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 right, moral right, or right of publicity); or
    • unsolicited or unauthorised advertising, promotional materials, junk mail, spam, chain letters, pyramid schemes, or any other form of solicitation; or
    • any personal information that is unlawful, obscene, harmful, threatening, harassing, defamatory, or hateful, or that contain objects or symbols of hate, invade the privacy of any third-party, contain nudity, are deceptive, threatening, abusive, inciting of unlawful action, or are otherwise objectionable in the sole discretion of Cowrywise; or
    • any personal information that contains 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 Cowrywise; or
    • any personal information that includes code that is hidden or otherwise surreptitiously contained within the User information;
    • Use any meta tags or other hidden text or metadata utilising a Cowrywise name, trademark, URL or product name;
    • Forge any TCP/IP packet header or any part of the header information in any posting, or in any way use Cowrywise to send altered, deceptive, or false source- identifying information;
    • Interfere with or disrupt (or attempt to interfere with or disrupt) any Cowrywise web page, server, or network, or the technical delivery systems of Cowrywise's providers, or disobey any requirements, procedures, policies, or regulations of networks connected to Cowrywise.
    • Attempt to probe, scan, or test the vulnerability of any Cowrywise system or network or breach or impair or circumvent any security or authentication measures protecting Cowrywise;
    • Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software used to provide Cowrywise;
    • Attempt to access, search, or meta-search Cowrywise or content thereon with any engine, software, tool, agent, device, or mechanism other than software and/or search agents provided by Cowrywise or other generally available third- party web browsers, including without limitation any software that sends queries to Cowrywise to determine how a website or web page ranks;
    • Violate the Terms of Use or any other rule or agreement applicable to you or Cowrywise'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;
    • Impersonate or misrepresent your affiliation with any person or entity, through pretexting or some other form of social engineering, or commit fraud;
    • Solicit any User for any investment or other commercial or promotional transaction;
    • Scrape or copy information through any means (including crawlers, browser plugins and add-ons, and any other technology or manual work);
    • Use, launch, or permit to be used any automated system, including without limitation "robots," "crawlers," or "spiders"; or
    • Copy or use the information, content or data on Cowrywise in connection with a competitive service (as determined by Cowrywise);
    • Monitor Cowrywise's availability, performance or functionality for any competitive purposes;
    • Use Cowrywise or content thereon in any manner not permitted by these Terms of Use.

The content contained on this Platform is owned or licensed by Cowrywise and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, in addition to specific restrictions outlined under clause 8.2, you may not copy, distribute, modify, post, frame or deep link this Platform, including any text, graphics, video, audio, software code, user interface design or logos.

You may download material displayed on the Platform for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content on the Platform for public or commercial purposes, including all text, images, audio, and video. Modification or use of the materials for any other purpose violates Cowrywise’s intellectual property rights.

All trademarks, service marks, trade names, and logos displayed on the Platform are proprietary to Cowrywise and/or their respective owners. Nothing contained on the Platform should be construed as granting, by implication, estoppel, or otherwise, any licence or right to use any trademark displayed on the Platform without the written permission of Cowrywise or such other third party that may own the trademark displayed on the Platform. Your use of the trademarks displayed on the Platform, except as provided herein, is strictly prohibited.

The use of the images displayed on the Platform by you, or anyone else authorised by you, is prohibited. Any unauthorised use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from the Platform, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

10. General Terms

In the event that any provision in these Terms of Use is held to be invalid or unenforceable, the remaining provisions will remain in full force and effect. The failure of a party to enforce any right or provision of these Terms of Use will not be deemed a waiver of such right or provision. You may not assign your rights or novate or delegate your obligations under these Terms of Use(by operation of law or otherwise) without the prior written consent of Cowrywise, and any prohibited assignment will be null and void.

Cowrywise may assign these Terms of Use or 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. Note that if you elect to become a Client, the relationship of the parties will be governed by these Terms of Use and any additional terms to which you agree when you create and fund an investment account.

11. International Use

Cowrywise is only for use in Nigeria

Cowrywise is only available for use in the Federal Republic of Nigeria. We make no representation that Cowrywise is appropriate or available for use outside the Federal Republic of Nigeria. Similarly, we make no representations that accessing Cowrywise from locations outside the Federal Republic of Nigeria is legal or permissible under Applicable Law. If you access Cowrywise from areas outside of the Federal Republic of Nigeria, you do so at your own risk and are yourself responsible for compliance with local laws.

12 Miscellaneous

These Terms of Use, together with all guidance notes in respect of User Accounts as set out on the Platform and any Client agreement (if applicable) form the complete and exclusive agreement between you and Cowrywise with respect to your use of our Platform and Services superseding and replacing any, and all prior or contemporaneous agreements, communications, and understandings, both oral and written, regarding the subject matter.

12.1 Governing Law and Dispute Resolution

These Terms of Use shall be governed, construed, and enforced pursuant to the laws of the Federal Republic of Nigeria.

Any disagreement, dispute or difference howsoever arising, from these Terms of Use including its interpretation and validity or as to the rights, duties and liabilities of the parties hereto or as to any other matter in any way connected with or arising out of or in relation to the subject matter of these Terms of Use, which cannot be amicably resolved by the parties within 30 (thirty) days shall be referred to arbitration in accordance with and subject to the provisions of the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria 2004.

12.2 Integration & Severability

If any provision of these Terms of Use is found to be illegal, unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that these Terms of Use will otherwise remain in full force and effect.

12.3 Waivers

The failure of either party to exercise in any respect any right provided for herein shall not be deemed a waiver of any further rights hereunder.

12.4 Communication: Any notice or communication will be in writing by email

By accepting to use the Services and access the Platform you further agree and acknowledge that these Terms of Use and the rules, restrictions, and policies contained herein, and Cowrywise's enforcement thereof, are not intended to confer and do not confer any rights or remedies on any person other than you and Cowrywise.

You hereby authorise the delivery of notices by (a) Cowrywise via email (in each case to the address that you provide), or (b) you, via email to or to such other addresses as Cowrywise may specify. The date of receipt shall be deemed the date on which such notice is transmitted.

You can also contact Cowrywise by phone at +234 (0) 903 000 0857 or via physical mail at:

Cowrywise. 5C, Rev. Ogunbiyi Street. Ikeja GRA, Lagos. Nigeria.