Privacy Policy

This Privacy Policy regulates how personal information can be used by Brightway MFB (BMFB), In line with the provisions of the Nigeria Data Protection Act, 2023, and other applicable Data Privacy laws and regulations, BMFB maintains the following privacy principles, which govern how we collect, use and manage your personal data.

Lawful Reasons for Collecting Personal Data by the Bank

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  The Consent of the Data Subject.

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  Offer of Banking and allied services to the Data Subject.

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  Offer of employment to the Data Subject.

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  Performance of Contract.

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  Compliance with Legal obligation.

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  Necessary to protect the vital interests of a person in line with Data Privacy regulations.

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  Necessary for the performance of a task carried out in the public interest.

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  In the legitimate interests of the Bank (except where those interests are overridden by the interests or rights and freedoms of the data subject).

Collection of Personal Information

As a responsible business, BMFB is committed to compliance with data protection regulations in collecting and processing personal data as defined in the Nigeria Data Protection Act, 2023 and other applicable Data Privacy regulations.

The NDPA give you certain rights regarding our use of your personal data, including the right to:

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  Request access to the personal data we have collected about you to review, modify, or request deletion of the data.

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  Request a copy of the personal data that we have collected about you and to have any inaccuracies in that data corrected.

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  Request that we cease processing your personal data.

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  Lodge a complaint with a competent data protection authority.

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  Data portability.

Note that some laws may prevent us from providing access to your personal data or otherwise fully complying with your request depending upon the circumstances and the request. For example, producing your information may reveal another person's identity. We reserve the right to charge an appropriate fee for complying with your request where applicable law allows, and/or deny your requests where they may be manifestly unfounded, and excessive, or otherwise objectionable or unwarranted under applicable law.

What do we need?

We will only collect basic personal data from you, which will include Name, Address; Nationality; Email, Phone number, ID Number, Bank Verification Number (BVN) and any other information as may be mandated by the regulatory requirements of the our country and applicable central bank requirement.

We will NEVER ask for personal banking information such as card details (CVV); PIN, Password; Secure Passcode; or Token number.

Why do we need it?

We require your basic personal data to provide you with banking services you have engaged us for based on the requirements from the Central bank and/or governmental regulations in line with the applicable Data Privacy regulations and our Data Privacy Framework/Policy.

What do we do with it?

To enable you to obtain banking services through us, we will require you to collect, store and process some of your personal data as required under the law. Your consent is required to make banking services available to you in accordance with the law/regulation in force.

How long do we keep it?

As a regulated financial services institution, we will retain your personal data for ten (10) years or as may be required by regulation in Nigeria, after which it will be disposed of as required under the respective Government laws and Banking regulations. Please note that regulations may require the Bank to retain your personal data for a specified period, even after your banking relationship with us ends.

Use or Sharing of Personal Data

All personal data collected will be processed from our Facilities and may be shared with Third parties and Service providers to complete the service to the customers in line with Nigeria Data Protection Act, 2023 and any applicable Data Protection Laws.

In addition, we may disclose your personal data:

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  If we are required to do so by law or legal process;

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  To law enforcement authorities or other government officials;

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  When we believe disclosure is necessary or appropriate to prevent physical harm or financial loss or in connection with an investigation of suspected or actual illegal activity;

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  If disclosure is necessary to protect the vital interests of a person;

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  To enforce our Terms and Conditions;

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  To protect our property, services and legal rights;

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  To support auditing, compliance, and corporate governance functions; or

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  To comply with any applicable laws.

Data Security

Your personally identifiable information is kept secure in line with applicable Data Protection Regulations. Only authorised members of staff, agents and contractors (who have agreed to keep information secure and confidential) have access to this information.

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  At BMFB, security is our top priority, and we always strive to ensure that your personal data shall be protected against unauthorised or accidental access. We maintain this commitment to data security by implementing appropriate physical, electronic and managerial measures to safeguard and secure your personal data with us.

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  We will not send personal information to you by ordinary email. As the security of ordinary email cannot be guaranteed.

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  All practical steps shall be taken to ensure that personal data will not be kept longer than necessary and that the Bank will comply with all statutory and regulatory requirements concerning the retention of personally identifiable information.

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  Our commitment to Data Security is paramount to us at BMFB.

Security Assurance

BMFB and its customers shall play an important role in protecting against online fraud.

You should also be careful that your bank account details, including your User ID and Password are secured.