PRIVACY POLICY (NDPA COMPLIANT)
1. Introduction
SEAL MICROFINANCE BANK LIMITED (“we,” “our,” or “us”) is committed to protecting your personal data in accordance with the Nigeria Data Protection Act (NDPA) 2023 and applicable regulations issued by the Nigeria Data Protection Commission (NDPC).This Privacy Policy explains how we collect, process, store, and protect your personal data when you use our services.
2. Data Controller Information
Data Controller: SEAL Microfinance Bank
Address: 186, Murtala Mohammed Way, Ikpoba Okha LGA, Edo State
Email: info@sealmfb.com
Phone: 07075340010
Data Protection Officer (DPO):
Email: support@sealmfb.com
3. Legal Basis for Processing
We process your personal data under the following lawful bases:Consent – where you have given clear permissionContractual Necessity – to provide banking servicesLegal Obligation – to comply with regulatory requirements (e.g., CBN, AML/CFT laws)Legitimate Interest – to improve our services and prevent fraud
4. Categories of Personal Data
We may collect and process:
a. Identity Data: Full name, date of birth, gender, Passport photograph, National ID, BVN, or other identification numbers
b. Contact Data: Phone number Email address Residential address
c. Financial Data: Bank account details, Transaction records, Credit and repayment history
d. Technical Data: IP address Device and browser information Log and usage data
5. Purpose of Processing
- Account opening and management
- Identity verification (KYC)
- Transaction processing
- Fraud prevention and security monitoring
- Customer support and communication
- Regulatory compliance and reporting
6. Data Sharing and Disclosure
We may share your data with:
- Regulatory authorities (e.g., Central Bank of Nigeria, NDIC, NDPC)
- Credit bureaus and financial institutions
- Third-party service providers (IT, payment processors)
- Law enforcement agencies when legally required
All third parties are required to comply with NDPA data protection standards.
7. Cross-Border Data Transfers
Where your data is transferred outside Nigeria, we ensure:
- Adequate level of data protection in the recipient country, or
- Appropriate safeguards (e.g., contractual clauses, NDPC-approved mechanisms)
8. Data Retention
We retain your personal data:
- For as long as necessary to fulfill the purposes stated in this policy
- As required by financial and legal regulations in Nigeria
9. Data Security
We implement appropriate technical and organizational measures, including:
- Encryption and secure servers
- Access control and authentication
- Regular security audits
10. Your Rights Under NDPA
Under the NDPA, you have the right to:
- Access your personal data
- Rectify inaccurate or incomplete data
- Erase your data (where applicable)
- Restrict processing
- Object to processing
- Data portability
- Withdraw consent at any time
To exercise your rights, contact us at: support@sealmfb.com
11. Cookies and Tracking Technologies
We use cookies and similar technologies to:
- Enhance user experience
- Analyze usage patterns
- Improve service delivery
You may manage cookie preferences via your browser settings.