Privacy Policy
Your privacy is fundamental to our mission. This policy explains how we collect, use, protect, and share your personal information on the FarmCredit platform.
Last Updated: January 26, 2025
Effective Date: January 26, 2025
FarmCredit Nigeria Limited ("FarmCredit," "we," "us," or "our") is committed to protecting your privacy and personal data. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our agricultural lending platform.
We comply with the Nigeria Data Protection Regulation (NDPR) 2019 and other applicable data protection laws. This policy applies to all users of our platform, including farmers, lenders, and visitors to our website.
Our Privacy Principles:
- Transparency in data collection and use
- Minimal data collection - only what's necessary
- Strong security measures to protect your data
- Respect for your rights and choices
- Compliance with Nigerian and international standards
Personal Information You Provide:
For Farmers:
- Full name, date of birth, and contact information
- National Identification Number (NIN) or other government-issued ID
- Address and geolocation data
- Farm details (location, size, crops, livestock)
- Financial information (income, expenses, banking details)
- Educational background and farming experience
- Photos and documents for verification
- Loan application details and credit history
For Lenders:
- Organization name and contact person details
- Business registration and license information
- Financial institution details and credentials
- Lending criteria and preferences
- Banking and payment information
- Verification documents and certificates
We use your personal information for the following purposes:
Platform Operations:
- Account creation and management
- Identity verification and fraud prevention
- Processing loan applications and credit assessments
- Facilitating connections between farmers and lenders
- Providing customer support and technical assistance
- Sending important notifications and updates
Legal and Compliance:
- Complying with legal obligations and regulations
- Preventing money laundering and terrorist financing
- Responding to legal requests and court orders
- Protecting our rights and interests
Legal Basis for Processing:
We process your data based on: (1) Your consent, (2) Performance of our contract with you, (3) Compliance with legal obligations, and (4) Our legitimate business interests.
We may share your information in the following circumstances:
With Your Consent:
- Sharing farmer profiles with potential lenders (with explicit consent)
- Connecting lenders with qualified borrowers
- Third-party integrations you authorize
Service Providers:
- Payment processors and financial institutions
- Identity verification services
- Cloud hosting and data storage providers
- Customer support and communication tools
- Analytics and performance monitoring services
We Never Sell Your Data
FarmCredit does not sell, rent, or trade your personal information to third parties for marketing purposes. Your data is only shared as described in this policy.
We implement comprehensive security measures to protect your personal information:
Technical Safeguards:
- End-to-end encryption for data transmission
- Advanced encryption for data storage
- Multi-factor authentication for account access
- Regular security audits and penetration testing
- Secure cloud infrastructure with redundancy
- Real-time monitoring and threat detection
Administrative Controls:
- Role-based access controls for employees
- Regular staff training on data protection
- Incident response and breach notification procedures
- Data minimization and retention policies
Security Certifications:
Our platform complies with international security standards including ISO 27001, SOC 2 Type II, and follows OWASP security guidelines.
We retain your personal information only as long as necessary for the purposes outlined in this policy:
Retention Periods:
- Active account data: Retained while your account is active
- Loan records: 7 years after loan completion (regulatory requirement)
- Financial transactions: 7 years (tax and audit purposes)
- Identity verification: 5 years after account closure
- Marketing communications: Until you unsubscribe
- Support tickets: 3 years for quality assurance
Secure Deletion:
When data is no longer needed, we securely delete it using industry-standard methods that make recovery impossible. Backups are also purged according to our retention schedule.
Under Nigerian data protection law and international standards, you have the following rights:
- Right to Access: Request copies of your personal data
- Right to Rectification: Correct inaccurate or incomplete data
- Right to Erasure: Request deletion of your data (subject to legal requirements)
- Right to Restrict Processing: Limit how we use your data
- Right to Data Portability: Receive your data in a portable format
- Right to Object: Object to processing based on legitimate interests
- Right to Withdraw Consent: Withdraw consent for data processing
- Right to Lodge a Complaint: File complaints with data protection authorities
How to Exercise Your Rights:
Contact our Data Protection Officer at [email protected] or use the privacy controls in your account settings. We will respond to your request within 30 days.
We use cookies and similar technologies to enhance your experience on our platform:
Types of Cookies:
- Essential Cookies: Required for platform functionality
- Performance Cookies: Help us analyze and improve our services
- Functional Cookies: Remember your preferences and settings
- Analytics Cookies: Understand how you use our platform
Cookie Management:
You can control cookies through your browser settings or our cookie preference center. Note that disabling certain cookies may affect platform functionality.
Our platform integrates with trusted third-party services to provide enhanced functionality:
Key Integrations:
- Payment processors (Paystack, Flutterwave) for secure transactions
- Identity verification services for KYC compliance
- Credit bureaus for credit scoring and assessment
- Banking APIs for account verification
- SMS and email service providers for communications
- Cloud storage providers for document management
Third-Party Privacy:
These services have their own privacy policies. We carefully vet all partners and ensure they meet our data protection standards before integration.
Your data may be transferred to and processed in countries outside Nigeria:
Transfer Safeguards:
- Standard Contractual Clauses (SCCs) with service providers
- Adequacy decisions for transfers to approved countries
- Binding Corporate Rules for intra-group transfers
- Encryption and security measures during transit
Data Localization:
We prioritize keeping Nigerian user data within Nigeria where possible, using local data centers and cloud regions to minimize international transfers.
FarmCredit is committed to protecting the privacy of children:
- Our services are not intended for children under 18 years of age
- We do not knowingly collect personal information from children
- Age verification is required during account registration
- If we discover we have collected child data, we will delete it immediately
- Parents can contact us to request deletion of their child's data
Parental Rights:
If you believe your child has provided personal information to us, please contact us immediately at [email protected] so we can take appropriate action.
We may update this Privacy Policy from time to time to reflect changes in our practices or legal requirements:
How We Notify You:
- Email notification to all registered users
- Prominent notice on our website and platform
- In-app notifications for significant changes
- 30-day advance notice for material changes
- Updated 'Last Modified' date at the top of this policy
Your Continued Use:
By continuing to use FarmCredit after policy changes take effect, you accept the updated Privacy Policy. If you disagree with changes, you may close your account.
If you have questions about this Privacy Policy or our data practices, please contact us:
Data Protection Officer:
Email: [email protected]
Phone: +234 (0) 800 FARMCREDIT
Address: FarmCredit Nigeria Limited
123 Agricultural Development Street
Victoria Island, Lagos, Nigeria
Response Time:
We will acknowledge your inquiry within 48 hours and provide a substantive response within 30 days as required by Nigerian data protection law.
Regulatory Authority:
You also have the right to lodge a complaint with the Nigeria Data Protection Commission (NDPC) if you believe we have not adequately addressed your privacy concerns.
This Privacy Policy is effective as of January 26, 2025, and supersedes all previous versions.
By using FarmCredit, you acknowledge that you have read and understood this Privacy Policy.