Legal

Terms of Service

Last updated: 25 June 2026

1. Who we are

These Terms govern your use of websites, applications and services operated by Torama Global Services Ltd ("Torama", "we", "us"), including Torama Vote, Torama eTax, Phidex, Otuburu, BibiTrust and the Situation Room. By creating an account or using any of our products you agree to these Terms and to our Privacy Policy.

Torama Global Services Ltd is a technology company. We are not a bank. Regulated financial activity — holding customer funds, card acquiring, bank transfers and payouts — is provided through licensed partner institutions and payment processors.

2. Eligibility & accounts

You must be at least 18 years old and able to enter a binding contract. You are responsible for keeping your login credentials, transaction PIN and any biometric/passkey authenticators secure. You must notify us promptly of any unauthorised access. We may suspend or close accounts that breach these Terms, applicable law, or partner requirements.

3. BibiTrust payments & wallets

BibiTrust lets you hold a wallet balance, receive money into a dedicated account, send money to other users and to bank accounts, and pay for services. Funds in your BibiTrust wallet are held with our regulated partner institutions; BibiTrust wallet balances are not bank deposits offered by Torama and are not separately insured by Torama. Transaction limits apply based on your verification tier and may be changed to meet regulatory or partner requirements.

We process transfers on a best-effort basis through third-party rails. Settlement times depend on the receiving bank and our partners and are not guaranteed. You authorise a transaction using your PIN or an enrolled biometric/passkey; an authorised transaction is treated as instructed by you.

4. Identity verification

To comply with financial-services rules, we (and our partners) must verify your identity before enabling certain features, such as receiving into a dedicated account or raising your limits. Verification may require your BVN, government ID and bank-account details. We submit this information to our licensed verification partners; we do not retain raw BVN data beyond what is required to complete verification.

5. AML / KYC policy

We operate an anti-money-laundering and know-your-customer programme consistent with applicable Nigerian law and our partners' requirements. This includes customer identification, transaction monitoring, sanctions screening and reporting of suspicious activity to the relevant authorities. We may decline, delay, freeze or reverse any transaction, request additional information, or report activity where we reasonably suspect fraud, money laundering, terrorist financing or other unlawful conduct. We may do so without prior notice where the law requires.

6. Trading & investment products

Phidex and Otuburu provide access to synthetic and real-market trading products. These products carry risk, including the risk of losing some or all of your capital. They are not deposits and not guaranteed investments. Past performance is not indicative of future results. Nothing in our products constitutes investment, tax or legal advice; you are responsible for your own decisions and for any tax due.

7. Fees

Applicable fees (for example, transfer, funding, payout or trading fees) are displayed before you confirm a transaction or in the product. Third-party charges from banks, processors or networks may also apply. We may change fees with reasonable notice.

8. Acceptable use

You agree not to use our services for any unlawful purpose, to facilitate fraud, to launder money, to evade sanctions, to abuse our systems, or to infringe others' rights. You may not attempt to gain unauthorised access to our systems or interfere with their operation.

9. Liability

Our services are provided "as is". To the maximum extent permitted by law, Torama is not liable for indirect or consequential loss, for losses arising from third-party rails or partner outages outside our reasonable control, or for trading losses. Nothing in these Terms excludes liability that cannot be excluded by law.

10. Complaints & disputes

If something goes wrong, contact us first at support@torama.money and we will acknowledge and investigate your complaint. If we cannot resolve it, you may be able to escalate to the relevant regulator or to our partner institution's dispute process, which we will point you to. We aim to acknowledge complaints within two business days.

11. Changes & governing law

We may update these Terms from time to time; the "last updated" date shows the current version, and continued use means you accept the changes. These Terms are governed by the laws of the Federal Republic of Nigeria, and disputes are subject to the jurisdiction of the Nigerian courts.

12. Contact

Torama Global Services Ltd — contact@torama.money. For account or payment support: support@torama.money.