Updated Jul 30, 2025
Terms of Use/Client Service Agreement to End Users. Privacy Policy .
By accessing, viewing the Platform or using the Services through any means, you accept our terms and conditions as our binding contract with you and agree to be so bound by same
CFTL Digital Services Limited ("CFTL Digital", "we", "our", or "us") is registered with the Securities and Exchange Commission, Nigeria (the "Commission") as a digital sub-broker and is subject to the rules and regulations of the Commission, Nigerian Exchange Limited ("NGX") and other applicable rules. These Terms of Use (also referred to as the "Agreement"), together with any document(s) they expressly incorporate by reference, encompass any content, components, functionalities, and services offered on or through our website at cowrywise.com and/or our mobile applications (jointly referred to as the "Platform"). All references to "you" or "your", as applicable, mean a customer/client who accesses or uses our Platform.
This Agreement will be effective on your acceptance of its terms electronically or otherwise through the Platform.
We offer a platform for Clients to buy and sell publicly traded securities on the stock exchange market across several jurisdictions ("our Services"). Further to this, we may include or make available certain content on our platform, which include, without limitation:
Some content may be provided by Third-Party Providers (referred to as "Third-Party Content"). These may include information, services, or software made available through our website or App, social media websites, blogs, wikis, online conferences, telecasts, podcasts, and other similar forums (collectively called "Forums"). Third-Party Content may be accessible through framed areas or hyperlinks leading to the websites of Third-Party Providers.
By using the Platform, you enter into a series of legally binding agreements. You also agree and expressly consent to be bound by our Privacy Policy, which covers how we collect, use, share and store your personal information.
When you access the Platform as a Client, you agree to be bound by these Terms of Use. Consequently, please, take the time to read these Terms of Use. For the purpose of this Agreement, a "Client", "Customer", "you", "your" is an individual who uses our website or App to evaluate our service, or for educational purposes. A Client includes any individual who signs up on CFTL Digital which entitles the Client to buy and trade stocks on the Platform. If you do not agree to these terms (or any updates to them), please discontinue the use of the Platform immediately.
You also understand and accept that in using the payment channels on the Platform to fund your wallet or account on the Platform, you are agreeing to the conversion of one currency to another at the prevailing market rate of exchange as determined by CFTL Digital. Please verify the prevailing exchange rate before initiating payments on your account. If you do not agree with the terms, please do not proceed with using the payment channels.
This Agreement, as well as the Privacy Policy, applies to Clients. If you elect to become a Client, you shall be subject to these Terms of Use (as may be amended), our Privacy Policy (as may be amended) and any additional terms to which you agree, when you create a plan and/or transact on the Platform.
Your use of the Platform is governed by the version of the Terms of Use in effect on the date you access the Platform. We reserve the right to modify, amend or change any portion of these Terms of Use at any time and without prior notice to you in any manner, and such changes shall be effective immediately. The most current version of these Terms can be reviewed by clicking the Terms hyperlink on our website. You acknowledge that by accessing the Platform and using the Services after such changes/modifications, you agree to be bound by the terms, as modified. If you do not agree with such modified Terms, please do not proceed with utilising the Platform and our Services.
By using the Platform, we may allow you to engage in relationships and agreements with Third-Party Providers, granting you access to additional services. These services may include the ability to buy and sell publicly traded securities on the stock exchange market across several jurisdictions. We may also be required to engage some Third-Party Providers to provide the Services to you. To avail yourself of these Third-Party Provider services, it may be necessary for you to enter or opt into various agreements with the respective Third-Party Provider. These may involve agreements such as customer agreements, service agreements, or account agreements. These Terms of Use shall apply, in addition to those contained in any agreement entered into between CFTL Digital and Third Parties, in relation to the provision of the services. By using the Platform, you consent to us providing your information to these Third-Party Providers for the purpose of implementing the Services. CFTL Digital shall not be responsible for Third Party agreements that are relevant for accessing Third Party Provider services.
The Platform and Services are intended solely for:
Any access to the Platform or use of the Services by any person or entity who does not meet the above criteria is not allowed nor permitted and shall be a violation of these Terms of Use, for which CFTL Digital shall not be liable.
You agree that the publication of content or information on our Platform does not constitute solicitation. Additionally, the content provided on the Platform does not serve as investment, financial, or tax advice to you and you confirm that your activities and usage of the Platform are self-directed.
To access certain features of the Platform, you must register to create an account ("Client Account"). When you register, you will be asked to provide a password, which you will be required to use to access your Client Account. CFTL Digital has physical, electronic and procedural safeguards that comply with regulatory standards to guard Clients' non-public personal information which are disclosed in our Privacy Policy. You are responsible for safeguarding your password and other Client Account information. You agree not to disclose your password to any third party, and you will notify CFTL Digital immediately if your password is lost or stolen or if you suspect any unauthorised use of your Client Account. As a Client, you agree that you shall be solely responsible for any activities or actions under your Client Account, whether or not you have authorised such activities or actions. You also confirm and warrant that the information you provide to us on account registration through our Platform is true, accurate, current, and complete.
By creating a Client Account, you automatically sign up for various types of alerts and notifications, including market notices and updates, via e-mail and mobile notifications. We never include your password in these communications, but we may include your name, 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.
All information and documents obtained by CFTL Digital 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 CFTL Digital as required for the purpose of providing the Services or by any court of competent jurisdiction or by a governmental or regulatory authority in Nigeria.
This covenant shall survive the termination of this Agreement.
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 CFTL Digital.
By signing this Agreement, you authorise CFTL Digital to deduct any fees applicable to your Client Account directly from your communicated bank account, stash or via bank transfer (the "Account Fees"). Until you terminate your Account, you will be deemed to continuously reaffirm your agreement that CFTL Digital may deduct the Account Fees from your stipulated means tied to your Client Account. Any unutilized amount initially debited shall be refunded to your stash upon transaction completion.
By signing this Agreement, you authorise CFTL Digital to deduct any fees applicable to your Client Account directly from your communicated bank account, stash or via bank transfer (the "Account Fees"). Until you terminate your Account, you will be deemed to continuously reaffirm your agreement that CFTL Digital may deduct the Account Fees from your stipulated means tied to your Client Account. Any unutilized amount initially debited shall be refunded to your stash upon transaction completion.
You understand and acknowledge that the investment results you obtain from investment information and financial insights provided by CFTL Digital or a Third-Party Provider cannot be guaranteed and that CFTL Digital shall not be held responsible in any way for such investment results.
All investments entail a risk of loss, and you may lose money. It is important to note that the stock market can be volatile and lead to losses. You are required to carefully consider your investment objectives, investment tenor, risks, charges and expenses involved in investing in the stock markets prior to signing up for any investment on CFTL Digital's Platform.
You agree and understand that your use of CFTL Digital's materials is for educational purposes only and you acknowledge that the materials are not intended to provide any legal, tax or financial planning advice. You agree as a Client, that you are responsible for your own investment research and investment decisions, and that trading in equities or other instruments on any exchange, is subject to varying elements of risk and may not be suitable for persons with limited investment or trading experience.
You further agree that you do not and will not rely on communication or information from CFTL Digital or any of its affiliates as the basis of your investment decisions and, except as otherwise provided for herein, CFTL Digital shall not be liable for decisions/actions you take or authorise third parties to take on your behalf, based on information you receive as a Client or information you otherwise see on our website.
You understand and agree that we provide the Services for other Clients. You further understand that we and our affiliates may take investment actions on behalf of such other Clients that differs from investment action taken on behalf of your account.
You recognise 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 Client Account may change and decrease. You acknowledge and confirm that we have not made any guarantee, either oral or written, that your investment objective will be achieved or that the value of any assets in your account(s) on the Platform will not decline. Nothing in this Agreement shall be deemed a waiver of any right or remedy that you may have under the applicable laws. All investments involve risk, and the past performance of a security or financial product may not be replicated in the future and does not guarantee future results or returns.
Your use of CFTL Digital's Platform and the personal information you provide is at your sole discretion. CFTL Digital's Platform and all materials, information, products and services included therein, are provided on an as-is and available basis without warranties of any kind from CFTL Digital
CFTL DIGITAL EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, RELATING TO CFTL DIGITAL'S WEBSITE, APP, CONTENT AND/OR CLIENT 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. CFTL DIGITAL DISCLAIMS ANY WARRANTIES, EXPRESS OR IMPLIED:
No advice or information, whether oral or written, obtained by you from CFTL Digital's Platform shall create any warranty not expressly stated in this Agreement. If you choose to rely on such information, you do so solely at your own risk. CFTL Digital makes no warranties or representations, express or implied, on products and services offered through the Platform. CFTL Digital accepts no liability for any damages or losses which may be incurred with the use of related services on its Platform.
You hereby undertake to defend, indemnify and hold harmless, CFTL Digital and any third party it engages to provide the Services to you, their directors, officers, employees, agents, successors or assigns from and against any and all claims, losses, demands, actions, damages, liabilities, costs and expenses (including but not limited to reasonable legal fees) while acting in accordance with the terms of this Agreement and that are not a direct result of a breach of the terms herein stated, bad faith, negligence, and material violation of applicable laws.
CFTL Digital shall not be liable for any loss whatsoever affecting the assets held by it on behalf of the Client, and it shall also not be liable for any act or failure to act by any third party.
IN NO EVENT SHALL CFTL DIGITAL OR ANY OF ITS OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE TO YOU FOR ANY DAMAGES WHATSOEVER OR ANY OTHER MATTER RELATING TO THE SERVICE, INCLUDING WITHOUT LIMITATION, INDIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, CONSEQUENTIAL DAMAGES, LOSS OF PROFITS, REVENUE, INCOME, OR TRADING LOSSES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OR INABILITY TO USE CFTL DIGITAL'S PLATFORM OR THE SERVICE, CONTENT AND/OR CLIENT INFORMATION, INCLUDING BUT NOT LIMITED TO THE QUALITY, ACCURACY, OR UTILITY OF THE INFORMATION PROVIDED AS PART OF OR THROUGH CFTL DIGITAL OR FOR ANY INVESTMENT DECISIONS MADE ON THE BASIS OF SUCH INFORMATION, WHETHER THE DAMAGES ARE FORESEEABLE AND WHETHER OR NOT CFTL DIGITAL HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW IN THE APPLICABLE JURISDICTION AND FOR THE AVOIDANCE OF DOUBT, IN NO EVENT SHALL CFTL DIGITAL'S CUMULATIVE LIABILITY TO YOU EXCEED NGN10,000 (TEN THOUSAND NAIRA) ONLY. THE COMPANY SHALL NOT BE HELD RESPONSIBLE FOR ANY LOSSES INCURRED BY YOU OR ANY OTHER PARTY DUE TO FACTORS BEYOND ITS CONTROL. THESE INCLUDE, BUT ARE NOT LIMITED TO, FAILURES OF ELECTRONIC OR MECHANICAL SYSTEMS, DISRUPTIONS IN COMMUNICATION NETWORKS (SUCH AS TELEPHONE, CABLE, OR INTERNET), UNAUTHORISED ACCESS, CYBER THREATS (INCLUDING VIRUSES OR THEFT), HUMAN ERRORS, WEATHER EVENTS (SUCH AS FLOODS OR EARTHQUAKES), NATURAL DISASTERS, FIRES, CIVIL UNREST, TERRORISM, RIOTS, LABOR STRIKES OR DISPUTES, ACCIDENTS, EMERGENCIES, OR GOVERNMENTAL ACTIONS.
You represent and warrant the following on a continuing basis, and shall promptly notify CFTL Digital if any of the following ceases to be true and accurate:
Payment of fees generally will be made first from Client 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 Client Account.
5.1 To the best of your knowledge, based on appropriate diligence and investigation, none of the cash or assets to be invested in the trading of stocks on CFTL Digital's Platform has been or shall be derived from or related to any activity that is deemed to be in contravention of the Money Laundering Prohibition (Amendment) Act, 2022, the Securities and Exchange Commission (Capital Market Operators Anti-Money Laundering, Combating Terrorism Financing and Proliferation Financing) Regulations, 2022, Terrorism (Prevention and Prohibition) Act, 2022 ("AML Laws") and other applicable laws; and
5.2 No contribution or payment by you to CFTL Digital shall cause CFTL Digital to be in violation of the AML Laws and other applicable laws.
Where we discover that the representations above are untrue or inaccurate or that our Platform and/or Services are being used contrary to the AML Laws or other applicable laws or to launder money or for any suspicious transactions, we have an obligation to report your activities to the relevant regulatory authorities without recourse to you.
6.1 You represent and warrant that:
You agree that we reserve the right to terminate or suspend your access to the Platform, with or without cause at any time or without prior notice to you, effective immediately, if your account is found to be fraudulent or exhibits fraudulent or suspicious behaviour, or if you have breached any part of these Terms of Use.
Upon termination of your use of the Platform, your login access will be promptly disabled. If you need assistance or encounter any issues during the termination process, please reach out to us via email at support@cowrywise.com .
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 Client 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 CFTL Digital 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.
CFTL Digital grants you a limited, non-exclusive license, which may not be sub-licensed, to use our Platform, so long as you comply with all our rules.
The content contained on the Platform is owned or licensed by CFTL Digital and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-exclusive and non-commercial use. Accordingly, you shall not copy, distribute, modify, post, frame or deep link this Platform, including any text, graphics, video, audio, software code, user interface design or logos.
All trademarks, service marks, tradenames and logos displayed on the Platform are proprietary to CFTL Digital and Cowrywise Financial Technology Limited ("Cowrywise Entities"). Nothing contained on the Platform should be construed as granting by implication, estoppel or otherwise, any license or right to use any trademark displayed on the Platform, without the written permission of the Cowrywise Entities 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.
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 this Agreement (by operation of law or otherwise) without the prior written consent of CFTL Digital, and any prohibited assignment will be null and void.
CFTL Digital may assign these Terms of Use/Agreement or any rights hereunder without your consent. CFTL Digital's role under these Terms of Use is that of an independent contractor, 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, our Privacy Policy and any additional terms to which you agree when you create and fund an investment account. We reserve the right to change this Agreement by posting a revised Terms of Use, and we agree that changes cannot be retroactive. If you do not agree with these changes, do not continue the use of CFTL Digital's Services. You agree that the only way to provide us with legal notice is at the address provided in Section 13.4.
CFTL Digital is only for use in Nigeria.
CFTL Digital is only available for use in Nigeria. We make no representation that CFTL Digital is appropriate or available for use outside Nigeria. Similarly, we make no representations that accessing CFTL Digital's platform from locations outside Nigeria is legal or permissible by local law. If you access CFTL Digital's platform from areas outside of Nigeria, you do so at your own risk and are personally responsible for compliance with local laws.
CFTL Digital retains the right to observe, monitor, and record activities on our sites without providing prior notice or seeking permission from you. By signing up to and using the Platform, you authorise CFTL Digital to engage vendors to verify your identity or the information you have provided. Any information obtained through the monitoring, review, or recording of activity on the website or our App may be subject to review by law enforcement agencies in connection with investigations or prosecutions of potential criminal activity, as well as by regulatory agencies or self-regulatory bodies with supervisory authority over CFTL Digital. In addition, CFTL Digital will comply with all Nigerian federal or state court orders requesting such information. As part of our commitment to ensuring quality service and safeguarding our customers, CFTL Digital reserves the right to record all telephone calls, chat conversations, and other communications between you and CFTL Digital for appropriate purposes.
This Terms of Use/Agreement together with CFTL Digital's Privacy Policy and any other terms or policies which you agree or consent to when opening and funding your account form the complete and exclusive agreement between you and CFTL Digital with respect to your use of our website and App, and other subject matters contemplated by this Agreement, superseding and replacing any and all prior or contemporaneous agreements, communications, and understandings, both oral and written, regarding that subject matter.
This Agreement shall be governed, construed, and enforced pursuant to the laws of the Federal Republic of Nigeria.
Any disagreement, dispute or difference howsoever arising, from this Agreement, 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 this Agreement, 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 Mediation Act, 2023 or any amendments thereof.
If any provision of this Agreement is found to be illegal, unenforceable or invalid, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect.
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.
By accepting these terms and executing this Agreement, you further agree and acknowledge that these Terms of Use and the rules, restrictions, and policies contained herein, and CFTL Digital's enforcement thereof, are not intended to confer and do not confer any rights or remedies on any person other than you and CFTL Digital.
You hereby authorise the delivery of notices required under this Agreement by:
You can also contact CFTL Digital by phone at +234 (0) 903 000 0857
You undertake to notify CFTL Digital if you have any reason to believe your email address or account may have been compromised by any third party.