Effective Date: April 20, 2025

By accessing and using the Electronic Pension Contribution Collections System ("EPCCOS") provided by NIBSS ("NIBSS"), you ("User") agree to be bound by these Terms and Conditions. The EPCCOS is designed to facilitate the remittance of pension contributions by Employers to Pension Fund Administrators ("PFAs") and Pension Fund Custodians ("Custodians"). If you do not agree with these Terms and Conditions, you are not authorized to use the EPCCOS.

1. Definitions

1.1 Employer – A registered business or organization that is responsible for remitting pension contributions for its employees to the Pension Fund Administrator.

1.2 NIBSS – The company or entity providing and maintaining the EPCCOS.

1.3 Pension Fund Administrator (PFA) – A licensed entity that manages pension funds, collects contributions, and ensures compliance with pension regulations.

1.4 Pension Fund Custodian (Custodian) – A financial institution entrusted with the safekeeping of pension assets and overseeing the movement of funds.

1.5 User(s) – Any individual or organization, including Employers, PFAs, and Custodians, that access or utilize the EPCCOS.

1.6 Personal Data – Any information relating to an identified or identifiable individual, including but not limited to personal identifiers, contact information, and financial details.

2. Acceptance of Terms

By using the EPCCOS, you agree to be bound by these Terms and Conditions. These Terms and Conditions, together with any applicable policies or rules posted on the EPCCOS, constitute the entire agreement between you and NIBSS concerning your use of the EPCCOS. If you do not agree with any part of these Terms and Conditions, you must stop using the EPCCOS immediately.

3. Registration and Account Access

3.1 Account Registration

To access the EPCCOS, Users must register an account. Employers, PFAs, and Custodians must provide accurate, complete, and up-to-date information as required during the registration process. By registering, Users consent to receiving notifications and communications related to their account and the EPCCOS.

3.2 Account Security

You are responsible for maintaining the confidentiality of your login credentials and for all activities that occur under your account. NIBSS is not liable for any loss or damage arising from unauthorized access to your account.

3.3 Access Rights

NIBSS grants Users a limited, non-exclusive, non-transferable right to access and use the EPCCOS, subject to the terms outlined here. NIBSS reserves the right to suspend or terminate User access in the event of a breach of these Terms and Conditions.

4. Roles and Responsibilities

4.1 NIBSS Responsibilities

NIBSS agrees to:

• Provide and maintain the EPCCOS for the purpose of facilitating pension remittances.
• Ensure the EPCCOS complies with applicable laws and regulations.
• Provide technical support for EPCCOS-related issues.

4.2 Employer Responsibilities

As an Employer, you agree to:

• Create and assign roles (maker/checker) to its officers who are required to access the EPCCOS
• Keep its access credentials for the EPCCOS confidential
• Populate and upload required files in the specified formats
• Remit pension contributions for employees through the EPCCOS in a timely manner.
• Ensure that all pension contribution details provided are accurate and comply with applicable laws and regulations.
• Maintain up-to-date employee records in the EPCCOS, including pension contribution amounts and payment deadlines.
• Notify NIBSS of any discrepancies or issues with remittances.

4.3 PFA Responsibilities

As a Pension Fund Administrator, you agree to:

• Receive and process pension contributions from Employers via the EPCCOS.
• Ensure contributions are allocated correctly to employees' pension accounts.
• Provide Employers with periodic statements and reports of contributions received.
• Resolve any issues related to pension fund management or allocation.

4.4 Custodian Responsibilities

As a Pension Fund Custodian, you agree to:

• Manage and safeguard pension assets in accordance with applicable custodianship laws and regulations.
• Ensure the secure and accurate handling of all pension-related transactions.

5. Use of the EPCCOS

5.1 Employer Remittances

Employers will use the EPCCOS to initiate remittances by providing necessary details, including the contribution amount, employee data, and deadlines for submission. These remittances will be processed by the relevant PFA and Custodian.

5.2 PFA and Custodian Processing

Once received, PFAs will verify, allocate, and manage contributions. Custodians will ensure funds are safeguarded and transferred as required. The EPCCOS facilitates these transactions to ensure the secure processing and accurate recording of pension contributions.

5.3 Transaction Confirmation

After a transaction is processed, a confirmation receipt will be generated for the Employer, PFA, and Custodian. Users are responsible for keeping these confirmations for their records.

5.4 Dispute Resolution

In the event of a dispute related to a transaction, Users must report the issue to NIBSS within [30] days. NIBSS will assist in resolving any discrepancies but does not assume responsibility for errors originating from any User.

5.5 Violations

You must not misuse the EPCCOS, including attempting unauthorized access or any action that could disrupt the EPCCOS's operation. Without in any way expanding the foregoing, and without limiting any other limitation/restriction on your access to/use of the EPCCOS, you may not and shall not:

(i)	use the EPCCOS for any criminal, illegal or unlawful purpose or for any purpose in breach of any law or regulation of any applicable jurisdiction.
(ii)	license, sublicense, sell, resell, rent, lease, transfer, assign, distribute, time share or otherwise commercially exploit or make the EPCCOS available to any third party
(iii)	use the EPCCOS to harass, threaten or cause damage or injury to any person or property.
(iv)	use the EPCCOS to publish, send or store any material that is infringing, false, defamatory, obscene or otherwise illegal or tortious or that violates any privacy rights.
(v)	send or store malicious code or interfere with or disrupt the integrity or performance of the EPCCOS
(vi)	attempt to gain, for yourself or a third party, unauthorized access to and/or use of any part of the EPCCOS, or the EPCCOS's related systems or networks.
(vii)	upload or distribute, in any way, any files that contain a virus, worm, trojan horse, corrupted file, or any other similar program software that may damage the operation of NIBSS's or another party's device(s) or network(s); or
(viii)	use any device, software or routine to, or to attempt to, or otherwise attempt to, interfere with the proper functioning of the EPCCOS.

You shall not reverse engineer, decompile or disassemble the EPCCOS, or otherwise attempt to discover or copy the source code for the EPCCOS, nor shall you permit or otherwise enable any third party to do so.

You may not reproduce or copy the EPCCOS in whole or in part. You shall not remove alter or obscure proprietary or trademark notices on any screens, data or reports generated by or through the EPCCOS.

6. Fees and Charges

6.1 EPCCOS Fees

NIBSS shall charge a service fee for the User's use of the EPCCOS. The details of these fees will be provided on the EPCCOS or via separate agreements with Users.

6.2 Transaction Fees

Fees related to pension contributions or processing may be assessed by the PFA or Custodian and are the responsibility of the Employer. Any transaction fees, if applicable, will be communicated during the remittance process.

7. Privacy and Personal Data Processing

NIBSS is committed to protecting the privacy and security of personal data. This section outlines how personal data is collected, stored, processed, and shared on the EPCCOS.

7.1 Data Collection and Types of Personal Data Processed

The types of personal data collected through the EPCCOS may include, but are not limited to:

• Employer Information: Business name, contact details, registration details, and financial account information.
• Employee Information: Full name, contact information, national identification number, salary details, and pension contribution details.
• Transaction Data: Records of pension contributions made by Employers, contribution amounts, payment history, and associated dates.

7.2 Purpose of Data Processing

Personal data is collected and processed for the following purposes:

• To facilitate the processing and remittance of pension contributions by Employers to Pension Fund Administrators and Custodians.
• To maintain accurate records of pension contributions and transactions.
• To comply with legal and regulatory obligations, including tax and pension regulations.
• To provide account support and resolve technical issues.

7.3 Legal Basis for Processing Personal Data

The legal basis for processing personal data includes:

• Contractual Necessity: The processing of personal data is necessary to fulfill the obligations set forth in the agreement between NIBSS and the User.
• Legal Compliance: Processing may be required to comply with applicable laws and regulations, such as tax or pension laws.
• Legitimate Interests: Processing may be necessary to safeguard NIBSS's business operations and ensure service delivery.

7.4 Data Sharing and Disclosure

Personal data may be shared with:

• Pension Fund Administrators (PFAs): To process pension contributions and allocate them to employee pension accounts.
• Pension Fund Custodians: To ensure the safekeeping of pension assets and facilitate fund transfers.
• Regulatory Authorities: To comply with applicable laws and regulations regarding pension contributions and financial transactions.

NIBSS will ensure that third parties who receive personal data are bound by appropriate confidentiality agreements and data protection obligations.

7.5 Data Retention

Personal data will be retained for as long as necessary to fulfill the purposes for which it was collected, including legal and regulatory requirements. After this period, personal data will be securely deleted or anonymized.

7.6 Data Subject Rights

Data subjects have the right to:

• Access: Request a copy of their personal data that is held by NIBSS.
• Rectification: Request the correction of inaccurate or incomplete personal data.
• Erasure: Request the deletion of personal data, subject to applicable legal or contractual obligations.
• Restriction: Request the restriction of processing under certain circumstances.
• Portability: Request the transfer of personal data to another service provider in a structured, commonly used format.
• Objection: Object to the processing of personal data based on legitimate interests, including profiling.

To exercise these rights, data subjects can contact NIBSS at contactcentre@nibss-plc.com.ng

7.7 Security Measures

NIBSS implements technical and organizational measures to protect personal data against unauthorized access, disclosure, alteration, and destruction. These measures include encryption, secure servers, and access controls.

8. Disclaimers and Limitation of Liability

8.1 No Warranty

NIBSS makes no warranties or representations regarding the accuracy, reliability, or availability of the EPCCOS. The EPCCOS is provided "as is," and NIBSS disclaims any implied warranties, including but not limited to warranties of merchantability or fitness for a particular purpose.

8.2 Limitation of Liability

NIBSS will not be liable for any indirect, incidental, or consequential damages arising from the use or inability to use the EPCCOS. NIBSS's total liability, if any, shall not exceed the amount paid by the User for the services provided via the EPCCOS during the six (6) months preceding the incident that led to the claim.

8.3 Indemnity

You indemnify and hold NIBSS, its subsidiaries, affiliates, licensors, partner financial institutions, service providers, employees, agents, officers, directors and contractors (the indemnified parties) harmless from any breach of these Terms and Conditions by you, including any use of the EPCCOS other than as expressly authorized in these Terms and Conditions. You agree that the indemnified parties will have no liability in connection with any such breach or unauthorized use, and you agree to indemnify all resulting loss, damages, judgments, awards, costs, expenses and attorney fees of the indemnified parties in connection therewith.

You also indemnify and hold the indemnified parties harmless from and against any claims brought by third parties arising out of your use of the information accessed from the EPCCOS.

You indemnify and hold the indemnified parties harmless from and against all losses, claims and damages arising from your active or passive authorization to any third party to manage your account on your behalf.

9. Termination and Suspension

9.1 Termination by NIBSS

NIBSS reserves the right to suspend or terminate access to the EPCCOS if a User violates these Terms and Conditions or engages in fraudulent or illegal activities.

9.2 Termination by User

Users may terminate their account at any time by notifying NIBSS in writing. Termination will not relieve the User from any outstanding obligations or fees owed to NIBSS.

9.3 Suspension for Maintenance

NIBSS may temporarily suspend access to the EPCCOS for scheduled maintenance or unforeseen technical issues. Users will be notified in advance of any significant downtime.

10. Governing Law and Dispute Resolution

10.1 Governing Law

These Terms and Conditions will be governed by and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of law principles.

10.2 Dispute Resolution

Any dispute, controversy, or claim arising out of or in connection with this Agreement, including any question regarding its existence, validity, interpretation, breach, or termination, shall be resolved amicably through negotiations between the Parties.

If the dispute is not resolved within 30 (thirty) days of the commencement of negotiations, it shall be referred to and finally resolved by arbitration in accordance with the provisions of the Arbitration and Mediation Act, 2023 of the Federal Republic of Nigeria.

The arbitration shall be conducted:

• In Lagos, Nigeria.
• By a sole arbitrator appointed jointly by the Parties. If the Parties are unable to agree on the arbitrator within 14 (fourteen) days, the appointment shall be made by the Lagos Court of Arbitration (LCA) or any other appointing authority agreed upon.
• In English language.
• In accordance with the Arbitration Rules of the Lagos Court of Arbitration or such other rules as the Parties may agree upon.

The award of the arbitrator shall be final and binding upon the Parties, and judgment upon the award may be entered in any court having jurisdiction.

11. Miscellaneous

11.1 Amendments

NIBSS may update or modify these Terms and Conditions at any time. Users will be notified of material changes, and continued use of the EPCCOS after such modifications constitutes acceptance of the revised Terms and Conditions.

11.2 Entire Agreement

These Terms and Conditions, along with any other policies or guidelines referenced herein, constitute the entire agreement between NIBSS and the User with respect to the use of the EPCCOS.

11.3 Severability

If any provision of these Terms and Conditions is determined to be invalid or unenforceable by a court of competent jurisdiction, the remaining provisions will continue in full force and effect.

11.4 Confidentiality of Information

a. Confidential Information: During the course of using the EPCCOS, NIBSS, Employers, Pension Fund Administrators (PFAs), Pension Fund Custodians (Custodians), and Users may exchange confidential and proprietary information, including but not limited to personal data, financial information, transaction details, and business strategies ("Confidential Information").

b. Obligations of Users: Users agree to:

1. Keep all Confidential Information confidential and not disclose it to any third party without the prior written consent of the disclosing party.
2. Use Confidential Information only for the purpose of using the EPCCOS and fulfilling their obligations under these Terms and Conditions.
3. Take all necessary precautions to protect the confidentiality of the information.

c. Exceptions: The confidentiality obligations shall not apply to information that:

1. Is publicly available or becomes publicly available through no fault of the receiving party.
2. Was already in the possession of the receiving party without restriction prior to disclosure.
3. Is required to be disclosed by law, regulation, or legal process, provided the receiving party gives reasonable notice to the disclosing party to allow for objection or protective measures.

d. Data Protection: NIBSS and all Users will handle any personal data in compliance with applicable data protection laws and regulations, ensuring that such data is not disclosed or used improperly.

e. Return of Information: Upon termination of a User's access to the EPCCOS, the User agrees to return or securely destroy all Confidential Information in their possession, as directed by the disclosing party.

11.5 Waiver

No failure or delay on the part of NIBSS to exercise any right, power or remedy under the Terms and Conditions shall operate as a waiver thereof, nor shall any single or partial exercise of the same preclude any further exercise thereof or the exercise of any other right, power or remedy. Without limiting the foregoing, no waiver on our part of any breach by you of any provision hereof shall be deemed to be a waiver of any subsequent breach of that or any other provision hereof.

12. Ownership Rights

Subject only to the specific rights expressly granted to you above, NIBSS reserve(s) all ownership, intellectual property and other rights, title and interest in and to the EPCCOS, including, but not limited to, any process or software comprising elements of the EPCCOS (e.g. source code), derivative works thereof, related work product, algorithms, documentation, licensed materials, as well as anything else developed or delivered by or on behalf of NIBSS. In addition, unless expressly stated otherwise in a written agreement executed by NIBSS, NIBSS shall own all rights to any resultant data generated by your access to or use of the EPCCOS. Without limiting the foregoing, NIBSS shall have a royalty-free, worldwide, transferable, sublicensable, irrevocable, perpetual license to use or incorporate into the EPCCOS any suggestions, enhancement requests, recommendations or other feedback provided by you relating to the EPCCOS.

13. Force Majeure

NIBSS shall not be liable for any delay in fulfilling its obligations under these Terms if such delay is caused by circumstances beyond NIBSS's reasonable control, including a Force Majeure. If a non-performance or a delay in performance of obligations is due to a Force Majeure event, NIBSS shall promptly notify you in writing, giving the particulars thereof, and shall use all reasonable endeavors to remedy the situation immediately. Force Majeure includes Riot, war, acts of terrorism, civil war, rebellion, revolution, insurrection of military or usurped power, earthquake, flood, and/or other natural physical disaster, disease outbreak, epidemics or pandemics, acts or orders of governments or governmental bodies (including legislative bodies, local or port authorities), changes to any general or local Statute, Ordinance, Decree or other Law or any regulation or bye-law of any local or other duly constituted authority or the introduction of any such Statute, Ordinance, Decree, Law, regulation or bye-law etc.

Contact Information:

For any questions or issues related to these Terms and Conditions, or the processing of personal data, please contact NIBSS at contactcentre@nibss-plc.com.ng