Legal

Privacy Policy

Last updated: 14 May 2026

YT Finance (“YT Finance”, “we”, “us”) provides lending infrastructure used by Nigerian money lenders to onboard, decision and service borrowers. This policy explains what personal data we process, why we process it, who we share it with, and what rights you have under the Nigeria Data Protection Act 2023 and the standards published by the Nigeria Data Protection Commission (NDPC).

This policy applies to both borrowers using the YT Finance application flow and lenders operating a YT Finance workspace.

1. The data we collect

Depending on whether you are a borrower or a lender, we collect some or all of the following:

  • Identity data — full name, date of birth, gender, National Identification Number (NIN), Bank Verification Number (BVN), and a live face image captured during KYC.
  • Contact data — phone number, email address, residential address.
  • Financial data — bank name, account number, account name, employment status, monthly income, loan amount, tenor and purpose.
  • Security data — a 4-digit transaction PIN you set during KYC, hashed for storage.
  • Lender business data — company name, RC/CAC number, TIN, money lender's licence, directors, and uploaded compliance documents.
  • Device and usage data — IP address, browser, pages viewed, actions taken, recorded in our audit log for security and dispute resolution.

2. Why we collect it

  • Identity verification (KYC) — to confirm you are who you say you are, in line with Central Bank of Nigeria (CBN) and NIMC standards.
  • Loan origination and servicing — to let lenders evaluate, approve, disburse, repay and close your loan.
  • Regulatory compliance — to meet our obligations under the NDPR Act, money lender legislation, anti-money-laundering rules and reporting requirements.
  • Fraud prevention — to detect impersonation, identity theft and abuse of the platform.
  • Platform operation — to bill lenders our platform fee, generate analytics and improve the product.

We process your data on the basis of: (a) your consent given at the start of the application flow, (b) the performance of a contract between you and the lender, (c) our legitimate interest in operating a safe lending platform, and (d) our legal obligations under Nigerian law.

4. Who we share data with

  • The specific lender you apply to. Borrower data is only visible inside the workspace of the lender whose product you apply for. Workspaces are isolated.
  • Identity verifiers authorised by NIMC and the CBN to validate NIN and BVN records.
  • Payment processors — principally Flutterwave — to disburse loans and settle the platform fee.
  • Regulators and law-enforcement agencies when we are required by law to do so.
  • Service providers bound by confidentiality (hosting, email, error monitoring).

We do not sell your data to third parties for advertising.

5. How long we keep it

KYC, loan and transaction records are retained for at least seven (7) years after closure of the related loan, in line with Nigerian financial-record-keeping rules. Account-only data (where no loan was disbursed) is retained for two (2) years, after which it is deleted or anonymised. Audit logs are retained for two (2) years from the date of the event.

6. How we protect it

  • All data in transit is encrypted with TLS.
  • Transaction PINs are hashed, never stored in clear text.
  • Workspaces are logically isolated; one lender cannot read another lender's data.
  • Access by YT Finance staff is restricted, logged and reviewed.
  • Suspected incidents are reported to the NDPC within the statutory 72-hour window.

7. Your rights

Under the NDPR Act you have the right to:

  • Access the personal data we hold about you.
  • Ask us to correct inaccurate or incomplete data.
  • Ask us to delete data we no longer need, subject to our regulatory retention duties.
  • Withdraw consent for processing where consent is the basis (note: this may prevent us continuing to service an active loan).
  • Object to processing or request that we restrict it.
  • Receive a portable copy of your data in a structured format.
  • Lodge a complaint with the NDPC.

8. Children

YT Finance is not for anyone under 18. We do not knowingly process data from minors. If we discover a minor has registered, we will delete the account.

9. Changes to this policy

We may update this policy as the platform and the law evolve. The “Last updated” date at the top of the page reflects the current version. Material changes will be notified by email to active lenders and shown to borrowers on next sign-in.

10. Contacting us

For data-access requests, corrections, deletions, or any privacy question, write to our Data Protection Officer at privacy@ytfinance.ng. We aim to respond within 14 working days.

Last updated: 14 May 2026.