1. Definitions in this Agreement.

The words “you” and “your” refer to the person who downloads the Application and uses the Service.

The words “m-naira”, “m-naira App”, “we” and “us” and “our” refer to BeepTool Communications & Integrated Services Ltd. a Lagos Nigeria incorporated and approved peer-to-peer payment & remittance platform that interconnects all Nigerian bank accounts, Mobile wallets, and billing systems to deliver instant remittance services to Nigeria from anywhere in the world, which provides the Service under the trade name  m-naira App, m-naira , mnaira, Beeptool,  BeepTool CIS LTD, or through BeepTool Communications & Integrated Services Ltd.’s Privately owned subsidiaries  Lagos Nigeria startup, along with any of its other subsidiaries and affiliates. m-naira or m-naira App is also the name of the Application.

The word ” m-naira Application” or “m-naira app” means the technology made available by BeepTool to you on your mobile phone or other electronic device by which you may access and use the Service.

The word “Beneficiary” means the person to whom you send money.

The word “E-Wallet” means the stored value account into which your Remittance may be paid to your Beneficiary, generally accessible on your Beneficiary’s mobile phone.

The word “Payment Account” means the debit or prepaid card account or bank account (or such other source of funds that m-naira  App agrees to accept from time to time for use hereunder and that you authorize m-naira App to charge) that you provide to m-naira App for m-naira App to charge for payment for your use of the Application. The Payment Account must be issued or held in your name at a depository institution in your country.

The word “Remittance” means the transfer of funds that you request and authorize m-naira App to process through the Application for payment to your Beneficiary.

The word “Service” means the transfer of funds from you to your Beneficiary through the Application, and activities related to that transfer.

  1. Scope of Agreement.

2.1 This Agreement applies only to the Remittances that you request through the Application.

  1. Registration Information

3.1 In order to use the m-naira App peer-to-peer payment & remittance Facility Application, you must be at least 18 years old, be a resident of UN, UK, USA and European Union (EU)-approved countries or another origination country approved by m-naira App, have a Payment Account in your name in the approved origination country, and be registered with m-naira App. In order to register, you must download the Application and provide m-naira App with information about yourself, such as your name, address, date of birth, telephone number, email address and other information or documentation that will allow us to verify your identify. The home address that you provide when registering must be the same as the billing address for your debit card or prepaid card. You agree to provide complete and accurate information and/or documentation in connection with the registration process and you further agree to update this information as may be reasonable or necessary to keep it complete and accurate at all times.

3.2 Your use of the Application is subject to our ability to verify your identity. You authorize m-naira App to obtain information about you from third parties (including financial institutions and credit reporting agencies), although m-naira has no obligation to do so. If you do not provide accurate and complete information during registration or when requesting a payment or Remittance, we have the right to prohibit you from using the Service or the Application or to stop your requested Payment or Remittance. Inaccurate and/or incomplete information provided by you during registration or when requesting a payment or Remittance may cause errors in your requested payment or Remittance or may delay or restrict your access to the Application or the Service.

3.3 Each time you access the m-naira App peer-to-peer payment & remittance Facility Application, you shall be deemed to have confirmed the accuracy and completeness of all of your registration information.

3.4 Your registration is personal to you. You should not allow your registration details to be used by anyone else. Registration with m-naira App allows your Payment Account to be accessed through the Application. If you lose your phone or believe your access to the Application has been compromised, you should contact m-naira team immediately at support@mnaira.app to change your password or disable your access to the Application.

  1. Description of the Service.

4.1 You may use the Application only to send a Payment or Remittance to a Beneficiary located in a country where m-naira App provides payment service, as designated on the Application from time to time. m-naira App and m-naira App-designated service providers will process the payment or remittance and make funds available for receipt by the Beneficiary as described below.

4.2 Your use of the Application or the Service does not constitute or create a fiduciary or escrow capacity between you and m-naira App. M-naira App provides a payment and remittance service only; the funds that you direct m-naira App to pay to your Beneficiary are not held by m-naira App as a deposit or in escrow, and m-naira App is not holding or processing your  Payment or Remittance as a fiduciary. m-naira App’s only obligation is to pay your payment or Remittance to your Beneficiary or to return the principal amount of the Payment or Remittance to you.

4.3 The Service is generally available 24 hours a day, 365 days a year, although there may be times when the Service is unavailable to you or to your Beneficiary. Periods of unavailability may be caused by m-naira App’s own acts (such as temporary periods when the Service is taken off-line to make upgrades or improvements), or by events beyond m-naira App’s control, such as power outages, telecommunications failures, war or civil unrest, natural disasters or other acts of God. m-naira App may from time to time set limits on the value of Payments or Remittances you may send (both individually and over a period of time), as well as the value of Payments or Remittances any Beneficiary may receive. M-naira App may delay payment of your Payment or Remittance to allow m-naira App to determine that your Payment or Remittance complies with applicable law, regulation or m-naira App policies. M-naira App has the right, without notice to you, to refuse to accept or pay any Payment or Remittance that m-naira App determines in our sole discretion may violate applicable law, regulation or our policies, including laws, regulations and policies intended to help detect and prevent money-laundering, terrorist financing, fraud, and other abuses of financial services; if we accept a Payment or Remittance and then determine that it may violate any such law, regulation or policy, we may hold the Payment or  Remittance until such time that the matter is resolved.

  1. Authority to Charge Payment Account; Fees and Expenses.

5.1 In order to use the Service, you must use the Application to direct m-naira App to withdraw the principal value of the Payment or Remittance from your Payment Account, plus any applicable fees and charges; by requesting a  Payment or Remittance, you authorize m-naira App to charge your Payment Account for the principal amount of the requested Payment or Remittance and applicable fees and charges, if any. You acknowledge that m-naira App has no obligation to process or complete a requested  Payment or Remittance if m-naira App is unable for any reason to obtain authorization or settlement of the funds from your Payment Account for the principal amount of the requested  Payment or Remittance and all applicable fees and charges.

5.2 M-naira App will disclose its fees and charges for providing the Service to you before you initiate a Payment or Remittance. M-naira App’s fees and charges may change from time to time, and may depend, among other factors, on the principal amount of your Payment or Remittance, your type of Payment Account, your location, and the location of your Beneficiary. In addition to the fees and charges, M-naira App will also show you the foreign exchange rate (that is, the rate at which your funds will be converted into the currency to be paid to your Beneficiary) applicable to your Payment or Remittance before you send it. M-naira App’s foreign exchange rates change from time to time. In addition to the fees and charges you pay when sending a Payment or Remittance, M-naira App makes money when we convert the currency you send into the currency we pay to your Beneficiary.

5.3 If the charge to your Payment Account is returned, charged-back or canceled for any reason after M-naira App has processed your Payment or Remittance request, you will be responsible to M-naira App for the principal amount of the Payment or Remittance and all associated fees and charges. You agree to pay such amounts, plus any applicable additional service fee and/or a non- sufficient funds (NSF) fee of $20 USD as a result of the return to M-naira App immediately upon demand. You authorize us to debit your Payment Account for the amount of any of the foregoing amounts. [If you charge an NSF fee in addition to passing through what the sender’s bank charges you, you need to specify that amount here.]

You may be subject to fees (including a cash advance fee) under your agreement with the bank or other financial institution that issues your debit card when you use such a card for a Payment or Remittance. You should review your card agreement regarding such potential fees.

5.4 Although M-naira App will pay the full principal amount of your Transaction to your Beneficiary in the currency M-naira App specifies to you when you initiate your Remittance, your Beneficiary may incur costs, fees or charges from his or her bank, mobile phone company, E-Wallet issuer or other party to maintain or withdraw the funds. Furthermore, your Beneficiary’s ability to use or withdraw the funds you send may be limited by the terms of your Beneficiary’s E-Wallet issuer.

  1. Reliance by M-naira App.

You represent and warrant that all information you enter into the Application or otherwise provide to M-naira App is true and complete, including information about you, your Payment Account, and your Beneficiary. When processing a Remittance Payment, M-naira App may rely on the registration information and Payment or Remittance information that you provide. You acknowledge that any errors in the information, including misidentification of Beneficiary(s), incorrect or inconsistent account names and numbers, or misspellings, are your responsibility and that M-naira App shall have no liability for executing a Remittance based upon the inaccurate or incomplete information you provided or entered.

  1. Execution of a Payment or Remittance.

The M-naira App peer-to-peer payment & remittance Facility Application is generally available 24 hours a day, 7 days a week, 365 days a year. Generally, your Beneficiary is paid instantly through the M-naira App mobile application; accordingly, once you originate a Payment or Remittance, you may be unable to stop or change it. If ever there is a situation where your transaction is not delivered instantly to the Beneficiary, we will contact you and keep you informed about the delay.

  1. Payment of Funds to Beneficiary

8.1 M-naira App and/or M-naira App designated service providers will arrange for the payment of the Remittance or services to your Beneficiary. M-naira App reserves the right to select the form of payment to the Beneficiary. M-naira App and/or M-naira App designated service providers will use reasonable efforts to provide payment in a form requested, but the M-naira App Application is not obligated to provide payment options for a specific Payment. Depending on the situation and the availability of various payment options, payment may be made by means of a credit to a mobile wallet, Agent locations, ATM,  currency (cash), by check, by stored value card, credit to a bank account or credit card account or by some other payment instrument. Not all payment methods are available in all countries, and M-naira App reserves the right to change payment method options. If a Beneficiary cannot be located and identified, the Remittance Payment funds may be returned to you either by a credit to your Payment Account or by check, at M-naira App’s option.

8.2 M-naira App reserves the right to establish identification and verification requirements for a Beneficiary to receive a Payment or Remittance. M-naira App may rely, without further investigation, upon identification information or documentation provided by you or a Beneficiary, including any code or identifier number of the Remittance, when paying the Beneficiary. M-naira App has the right to decline to pay the Beneficiary if M-naira App cannot verify the identity of the Beneficiary or if M-naira App believes that you or your Beneficiary may be in violation of this Agreement or any applicable law, regulation or M-naira App policy. Although M-naira App has the right to establish identification and verification requirements, and the Beneficiary’s failure to comply with them is a basis to decline payment of the Remittance, M-naira App has no obligation to establish any such requirements.

  1. Foreign Exchange

9.1 Payments to Beneficiaries are generally made in the currency of the Beneficiary’s country. If permitted by applicable law and the Application, you may request your Remittance to be paid in another currency approved and made available by M-naira App from time to time.

9.2 If a currency conversion is required, M-naira App and/or M-naira App-designated service providers will convert the currency in which you initiate your Payment or Remittance into the local currency at the M-naira App exchange rate for your Payment or Remittance in effect at the time you initiate your Payment or Remittance. M-naira App will disclose the exchange rate to you before you authorize the Payment or Remittance. M-naira App’s exchange rates vary from time to time and may also differ depending on the principal value of your Payment or Remittance and other factors. In addition to the fees and charges applicable to your Payment or Remittance, M-naira App makes money when your currency is converted into the currency in which your Remittance is paid.

  1. Permissible Remittance Payments.

The Application is not intended for use by any person in any jurisdiction or country where such use would be contrary to law or regulation. Specifically and without limitation, you may not use the Service for any Payment or Remittance (a) induced by or involving the proceeds of crime, fraud or other improper activity; (b) exceeding M-naira App’s transaction limits (whether in amount, frequency or otherwise); (c) sent for the purpose of gambling, including placing bets or paying winnings; (d) intended to be used as an escrow or similar capacity for delayed payment; (e) which M-naira App determines is suspicious or may violate applicable law or regulation, including laws intended to detect and prevent money- laundering, terrorist financing, human trafficking, fraud, or to enforce currency or exchange rate controls. You agree that you will only request a Payment or Remittance that complies with this Agreement, applicable origination country laws and applicable laws in the country of the Beneficiary. You may only use the Application to send Payment or Remittances on your own behalf. You may not resell the Application or use the Application to make payment or Remittances on behalf of, or as agent for, another person. You will provide information and/or documentation that M-naira App may request from time to time in order for M-naira App to comply with any applicable laws, including anti-money laundering laws. M-naira App may refuse payment of any Remittance or services which M-naira App determines in its sole discretion does not comply with applicable law, M-naira App policy or the terms of this Agreement.

  1. Rejection of Remittance Payment Request.

11.1 M-naira App has the right to reject your request for a Payment or Remittance, or to decline to complete a request for a Remittance, or to impose a value or frequency limitation on your use of the Service, without cause or prior notice to you. Without limiting the foregoing,  may suspend, delay or reject your Remittance Payment request if:
(a) the value of one or more of your Payment or Remittance requests exceed any limits established by M-naira App;
(b) M-naira App is unable to charge your Payment Account for the principal amount of the Payment or Remittance and related fees and charges;
(c) your Payment or Remittance request is incomplete or unclear;
(d) M-naira App is unable to confirm your identity or verify any registration or Beneficiary information, including the identity of the Beneficiary;
(e) M-naira App suspects fraud or irregularity or illegality;
(f) your name or the name of your Beneficiary is a possible match to a name on one or more applicable “watch lists” maintained by governments, inter-governmental groups or M-naira App to help detect and prevent illegal activity;
(g) M-naira App and/or M-naira App-designated service providers are unable to fulfill your request for any reason.

11.2 If your request for a Payment or Remittance is declined for any reason, M-naira App will notify you by an SMS / text message or electronic mail, or by any other reasonable means of notice.

11.3 Generally, if your request for a Payment or Remittance is rejected, M-naira App will return the principal amount of your Payment or Remittance to your Payment Account, if it has already been withdrawn; there may be circumstances, however, where the law requires M-naira App to hold your Payment or Remittance or to pay it to another party (including a government agency). If that happens, M-naira App will inform you, if we are permitted to do so by applicable law. M-naira App has the right retain any authorized fees and charges it may have imposed in connection with the requested Payment or Remittance, even if M-naira App declines to pay it.

  1. Returns Due To Your Mistake.

If M-naira App is unable to complete payment of the Remittance to your Beneficiary because you provided incorrect information about the Beneficiary, such as an incorrect telephone number, an incorrect or misspelled name, the wrong bank or bank account or any other misinformation, you will be liable for any costs, fees, expenses and losses that M-naira App incurs in returning the Payment or Remittance to you, such as processing costs, losses arising due to exchange rate fluctuations and third party service charges.

  1. Limitation of Liability.

M-naira App shall not be responsible for any delay, failure to execute, or an error in the execution of your Payment or Remittance request due to circumstances beyond M-naira App’s reasonable control, whether caused by strikes, power failures, equipment malfunctions, war, riots, governmental or court orders, work stoppages or similar occurrences or circumstances. You further agree that that M-naira App may refuse to process or delay processing any request if it would violate any guideline, rule, policy or regulation of any government authority or funds transfer system.

Under no circumstances will M-naira App be liable for damages, whether caused by the negligence of M-naira App’s employees, contractors, agents or others, beyond the sum of ONE THOUSAND UNITED STATES DOLLARS (US$1,000.00), in addition to refunding the principal amount of the Remittance and any fees and costs you may have paid to M-naira App to send it, unless you have contacted M-naira App before you send your Payment or Remittance and have obtained our written agreement to a higher limit on liability. If we agree to a higher limit on liability, we may charge you for it. Under no circumstances will M-naira App be liable for any incidental, indirect, special, punitive or consequential damages or the like.


  1. Error Resolution and Cancellation Policy

For error resolution, transaction cancellation, questions, complaints or a written explanation of your rights, contact us at support@mnaira.app.

Because M-naira App credits Payment or a Remittances to Beneficiaries immediately, your Payment or Remittances are typically not cancellable or refundable. If you believe that you sent a Payment or Remittance in error, you must contact us within thirty (10) minutes after you initiated the Payment or Remittance at support@mnaira.app and we will attempt to recall the Payment or Remittance, but we may be unable to do so if the Payment or Remittance has already been credited to your Beneficiary’s account or if your Beneficiary has already withdrawn or moved the funds; if M-naira App is unable to recall your payment or remittance, M-naira App will have no liability to you.

You have a right to dispute errors in your transaction. There is no charge for this service. If you think there is an error, contact us within 30 days and provide your name, contact information, the beneficiary’s name, date of transfer, as well as the reason you believe there has been an error. M-naira App will determine whether an error occurred and will reply to you within 8 weeks (56 days). If M-naira App was at fault, you will be entitled to a refund or to have the Payment or Remittance re-sent free of charge. If no error occurred or M-naira App was not at fault, you will receive a written notice including the information that M-naira App relied on to make that determination.

M-naira App shall not be liable to you for any loss resulting from M-naira App’s inability to cancel or refund a Remittance Payment. If M-naira App refunds Remittance Payment funds to you, these funds may be returned to you either by a credit to your Payment Account or by check payment, at M-naira App’s option.

The following paragraph applies only to Transactions sent from California to a foreign country:

“RIGHT TO REFUND. You, the customer, are entitled to a refund of the money to be transmitted as the result of this agreement if M-naira App does not forward the money received from you within 10 days of the date of its receipt, or does not give instructions committing an equivalent amount of money to the person designated by you within 10 days of the date of the receipt of the funds from you unless otherwise instructed by you. If your instructions as to when the moneys shall be forwarded or transmitted are not complied with and the money has not yet been forwarded or transmitted, you have a right to a refund of your money. If you want a refund, you must send your written request to support@mnaira.app. If you do not receive your refund, you may be entitled to your money back plus a penalty of up to $1,000 and attorneys’ fees pursuant to Section 1810.5 of the California Financial Code.”

  1. Indemnity.

In consideration of our agreement to provide you with the Application and Service, you agree to indemnify and hold M-naira App harmless from and against any and all claims, suits, judgments, executions, liabilities, losses, damages, costs, and expenses – including reasonable attorney’s fees – in connection with or arising out of (i) your use of the Application or the Service, (ii) your breach of this Agreement, or (iii) M-naira App acting upon your request for a Remittance. Without limiting the generality of the foregoing indemnification obligation, you shall indemnify M-naira App for any losses caused due to any inaccurate, non- current or incomplete information that you provided to M-naira App and for any losses due to your failure to maintain the secrecy and confidentiality of all your IDs, passwords, or due to any unauthorized use of your ID and/or password.

  1. Arbitration of Disputes.

Where allowed, any dispute or claim arising from or relating to this Agreement, any Remittance or the Service, including disputes involving this provision about the resolution of disputes, will be settled by binding arbitration.

For Payment or Remittances originated in  Nigeria or any other country all disputes will be settled by binding arbitration administered by the CHARTERED INSTITUTE OF ARBITRATORS (NIGERIA BRANCH) under its Code of Procedure in effect when the dispute is filed, and shall be arbitrated in the most populous city in the state where the Remittance was sent. Each party will pay for its own attorneys, experts and witnesses. Neither party shall have the right to participate in any class of claimants pertaining to any claim. Third parties’ claims shall not be joined in any arbitration between M-naira App and you. Information about THE CHARTERED INSTITUTE OF ARBITRATORS (NIGERIA BRANCH) may be obtained, and disputes may be filed, at CIARB a office; for further information, see https://www.ciarbnigeria.org/, or contact 5B Kunle Ogunba Street, Off Jeremiah Ugwu Street, Off Babatunde Anjous Street, Off Admiralty Way Lekki Phase 1, Lekki, Lagos. This Agreement is made pursuant to a transaction involving interstate commerce and shall be governed by the Federal Arbitration Act. Except as expressly provided in this paragraph, the parties waive all rights to a court or jury trial to resolve disputes or claims arising from or relating to this Agreement, any Remittance, or the Service.

  1. Electronic Communications

In order to use the Application, you consent to receive and accept this Agreement, any amendment to this Agreement, and all notices relating to the Application and Service by means of electronic (SMS-text message or email) communications. If any change to this Agreement requires prior notice to you, M-naira App will notify you by SMS-text message or email, at the telephone number or email address that you provided when registering for the Application, or M-naira App will provide you with a link in such SMS-text message or email to where you may view the revised or amended Agreement. M-naira App will make available to you a record of each of your Remittances electronically on the Application. In order to use the Application, you must have a Android device or iPhone or any other device approved by M-naira App. You agree that if you remove your consent to receive electronic communications, M-naira App will terminate your use of the Application and Service.

  1. General Terms.

This Agreement, along with all the material incorporated into it by reference, constitutes the entire understanding between you and M-naira App concerning the Application and the Service. It supersedes all prior agreements and may not be modified orally. M-naira App may modify, supplement, alter and amend this Agreement at any time, and you will be deemed to have agreed to any such changes if you continue to use the Application after you have been notified of any such changes. As used in this Agreement, M-naira App includes all of the subsidiaries and affiliates of BeepTool CIS LTD., and any of them, along with the banks, telephone service providers and others we have engaged to assist us, may participate in the provision of the Service. We may assign this Agreement or delegate our obligations under it, in whole or in part, without notice to you and without your consent. If any portion of this Agreement is determined to be invalid, the remaining provisions will nevertheless be enforceable.


  1. Governing Law.

If you are using m-naira App services. This service is provided BeepTool CIS LIMITED doing business as “M-naira App” and is subject to the laws of the originating country, without regard to its ‘conflicts of laws’ rules which might require the application of the law of another jurisdiction. You may have additional rights under your provincial law

If you are sending money from a different country, you may have other rights under the laws of that country.

  1. Privacy Policy

You represent and warrant to M-naira App that all information you provide to us about yourself and your Beneficiary is accurate and complete. M-naira App is relying on your representation and warranty when M-naira Apps provides the Application and Service to you. M-naira App may, from time to time, require you and/or your Beneficiary to provide us with information and/or documentation to confirm your eligibility to use the Service. M-naira App may maintain and use all such information and documentation, as well as information we derive from your use of the Service and information that we obtain about you from the institution where you maintain your Payment Account and other third parties, in order to provide the Application and Service to you. M-naira App may share this information among our affiliates and subsidiaries, and we may provide it to the banks, agents and service providers (including banks and telephone service providers in your Beneficiary’s country) as reasonably necessary to provide the services offered through M-naira App. If required by law, M-naira App may report information about certain transactions to government authorities. We will not, however, rent, sell or otherwise make available the information you provide to us to third parties who do not need it to perform the Service, unless we are required to do so by law. Further information about M-naira App’s privacy policy may be found by visiting www.mnaira.app