Terms and Condition



Euzzit Limited is a Technological driven ccompany registered under the laws of Nigeria to do business in Nigeria.


Our Terms and Conditions apply to and regulate the provision of financial services provided by Euzzit Limited an e-commerce company through its partnership with Interswitch, Airvend and smile multi-purpose cooperative. To the Customer herein: The Terms and Conditions constitute Euzzit’s offer and sets out the terms governing this Agreement.
By registering for a Euzzit Account or using any of our services provided on the Euzzit App, you agree to comply with all of the terms and conditions in this user agreement. The terms include an agreement to resolve conflicts and disputes that may arise through arbitration. You also agree to comply with the following additional policies that apply to you:
• Privacy Policy
• Acceptable Use Policy
• Consent to Receive Electronic Disclosures (E-Sign Disclosure and Consent)
We may review this user agreement and any of the policies listed above from time to time. The revised version will be effective at the time we post it, unless otherwise noted. We reserve the right to amend this agreement at any time without notice, subject to applicable law. By continuing to use our services after any change to this user agreement becomes effective, you agree to abide and be bound by those changes. If you do not agree to these terms and conditions, please do not proceed and exit the application immediately. Also, be informed that we can terminate your account with us if we believe that you have violated any of these terms.


The following definitions relate to the Terms of Use:

1.1. “Account” or “Wallet”: is an electronic stored value account on Euzzit created by the customer. Credits, debits and charges are applied to this Account. The Account is primarily accessed through your mobile phone.

1.2. “Agent”: refers to any party or device, including authorized Euzzit Agents, which facilitate Euzzit transactions on behalf of customers.

1.3. “CBN”: means the Central Bank of Nigeria.

1.4. “Merchant” means any person or entity that offers and or accepts payment for goods or services using Euzzit.

1.5. “Mobile Payments” describes the service or process that allows customers to make and receive a variety of payments using their mobile phone, among other channels.

1.6. “OTP”: means One Time Password used to authorize transactions or processes.

1.7. “PIN”: means Personal Identification Number.

1.8. “Products”: refer to Euzzit products, including person-to-person money transfer, bill payments, airtime top-up, Agency Banking retail payments services or other Merchant products and services provided through Euzzit.

1.9. “Registered phone number”: refers to any phone number that has been registered on Euzzit.

2.0. “Euzzit Wallet:” means an electronic account on Euzzit used to perform transactions.

2.1. “ZIT”: Shows the value of reward a user has gotten from performing transaction on the eUzzit app. ZIT is not transferable, it automatically converts to digital assets which can be used as insurance cover, pension plan and in obtaining collateral free loan.

2.2. “ACTIVATION”: Activation enables user's gain access to numerous transaction benefits such as free life insurance, free pension plan and access to loan. This is done automatically once a user account is funded. Activation cost shall be determined by the company.

2.3: “UPGRADE:” This is the part where a user after activating their account will need to upgrade it to enjoy the benefit of their Zit rewards. Upgrades cost shall be determined by the company.

2.4. “Investment”: The amount of zit the user has accumulated over a period of time grows into digital investment.

2.5. “Investment Account”: An account must be upgraded before a user’s accumulated ZIT can be converted to an investment .

2.6. “Loan”: means the principal amount of the loan (together with any interest due on the loan gotten by a user’s accumulated ZIT. Loans are given according to a user’s accumulated ZIT Worth with an interest rate of 2%. A user’s ZIT stands as collateral for this loan and failure to pay back the ZIT worth of the loan will be ‘‘collected’’.

2.7. “LIFE LINE”: These are freebies given to active users to upgrade their account or that of friends and family.

3.0 In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, exclusive license to use the App on your phone or gadgets, subject to these Terms and Conditions. We reserve all other rights. Except as expressly set out in this Agreement or as permitted by any local law. You further agree as follows;

3.2 Not to rent, lease, sub-license, loan, transfer, merge, vary or modify the App

3.3 Not to make alterations to, or modifications to the whole or any part of the App, or permit the App or any part of it to be combined with or become incorporated in any other programs.

3.4 Not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the App or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the App with another software program, and provided that:

3.5 The information obtained by you during such activity is not disclosed or communicated without our prior written consent to any third party; and is not used to create any software that is substantially similar to the App.

3.7 To comply with all directives of regulatory bodies in Nigerian as they may be made known by agencies of Government.

4.0 Opening a Euzzit Account and Condition of Use.

4.1. To use Euzzit you must first open a Euzzit wallet by registering your details through our Mobile App. As part of the signup process, you will need to accept the Terms of Use and our Privacy Policy, and you must have legal capacity to accept the same.

4.2. You must be in Nigeria as we are currently only available in Nigeria, by opening a Euzzit Account you declare that you are 18 years or older.

4.3 You must provide all information as may be requested by us, such as your name, email address, mobile device number and such other information as we may request from time to time “Customer Information”.

4.4 By opening a Euzzit Account you represent and warrant to us that doing so does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.

4.5. You may only add payment instruments (such as bank accounts, credit or debit cards) to your Euzzit Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.

4.7 During signup you will be asked whether you intend to use your Euzzit Account for private or commercial purposes. If you have any intention to use your Euzzit Account for commercial purposes, you must upgrade to a premium account to become a merchant Euzzit account holder. 5.0. POLICY FOR USE OF MERCHANT ACCOUNT

5.1 To access a merchant account, you must first register as a merchant account holder or upgrade a pre-existing classic account to a premium account.

5.2 You must create your list of service(s), and then provide at least 1% zit reward for each of the service/ product you offer.

5.3 Euzzit merchant account holders shall neither engage nor solicit or sign agreements with merchants or sub-merchants in any of the following categories/businesses in any of the following activities as may be updated by Euzzit in its sole discretion from time to time as they are prohibited by Euzzit and/or the Card Brand rules:

a. Any product, service or activity that is deceptive, unfair, predatory or prohibited.
b. Any Merchant selling goods or services that represent a violation of any law, statute or regulation.
c. Any Merchant selling products that infringe on the intellectual property rights of others, including counterfeit goods or any product or service that infringes on the copyright, trademark or trade secrets of any third party..
d. Brand or Reputational damaging, potential or otherwise, activities including Child Pornography, Extort Services.
e. e-Cigarettes.
f. Firearms and weapons including Ammunition.
g. Internet/Mail Order Pharmacies.
h. Investment or “get rich quick” merchants, businesses or programs.
i. Marijuana dispensaries and related products or services.
j. Multi-Level Marketing Businesses.
k. Digital Wallet, Cryptocurrency or Prepaid Companies.
l. Pseudo Pharmaceuticals.
m. Psychics and “occult” businesses.
n. Quasi-Cash or Stored Value.
o. Substances designed to mimic illegal drugs.

5.0. Personal Information

5.1 To meet our Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) obligations, we may require you to provide any or all the following:

6.1.1 Your full name;
6.1.2 Your date of birth;
6.1.3 Your current residential address;
6.1.4 Your picture;

6.1.5 A copy of a valid Government issued ID (National ID, International passport, Permanent voter’s card or Driver’s license);
6.1.6 A copy of recent utility bill, bank statement, affidavit, or another bill, dated within three months of our request, which carries your name and address;
6.1.7 Any other information or document as we may require for our internal risk assessment.
6.2 We presume that all information and documentation provided to us are true, correct, and accurate. You also undertake to notify us of any changes to the information or documentation which you have provided.
6.3 You hereby agree and authorize Euzzit to verify information provided by you against the information held by any third party (including official databases) such as, NIBBS, Payment System Providers any other information bank available to Euzzit.
6.4 The information that Euzzit may verify against the information which you have provided to us include (without limitation): your name, phone number, date of birth, address, age, Identification Number (“ID”) or Passport Number and such other information that will enable Euzzit to identify you and comply with the regulatory “Know Your Customer” requirements .
6.5 You hereby consent to Euzzit verifying the Personal Information and the Relevant Information and using the Personal Information and the Relevant Information to the extent necessary in Euzzits’ opinion for the provision of the Services.
6.6 You agree to indemnify Euzzit and the Third-Party Partners with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
6.7 Euzzit reserves the right to request for further information from you pertaining to your use of the Services at any time. Failure to provide such information within the time required by Euzzit may result in Euzzit declining to accept your application for an Account or access to the Services.


7.1 You may access the available funds in your Account at any time. While we make every reasonable attempt to provide the services as described in our marketing and educational materials, we offer the services “as it is” and without any warranties.
7.2. All payments will be processed in Nigerian local currency i.e. Naira and Kobo.
7.3 .Some transactions may require you to input your pre-configured PIN; you are solely responsible for maintaining the confidentiality of your PIN and login details of your Account. You must protect the secrecy of your PIN and login details and prevent fraudulent use of the same.
7.4 As required by the CBN, there are daily limits on your Account or Wallet. You can increase or reduce these limits by providing Euzzit with the required information, subject to the restrictions placed and account type.
7.5. Your Account will be credited with any deposits made into it, and the credit will be available for transactions immediately after they are cleared.
7.6. We will verify and confirm any record of a deposit into your Account. Our records will be interpreted and relied on as being correct unless the contrary is proved.
7.7 For the avoidance of doubt, please note that some transaction limits may be further reduced from the approved CBN limits, this may be done based on channels or particular types of transactions as part of our risk control process.
7.8 You undertake throughout the duration of your use of Euzzit to comply with anti-fraud and money laundering regulations applicable in Nigeria. In particular, you undertake to respond diligently to any request from Euzzit or a regulatory or judicial authority regarding any fraud and money laundering activity on your Account.
7.9 Any breach of the anti-fraud and money laundering regulations by you constitutes a serious breach of this Terms of Use and we reserve the right to immediately suspend or close your Account.
7.10 The proceeds from suspected fraudulent or money laundering transactions shall be kept by Euzzit pending an internal decision or a judicial or administrative decision.
7.11 In processing your transactions, Euzzit shall comply with the Money Laundering Prohibition Act (as amended) 2011.
8.0 Funding and Transfer out of your Account.
8.1 Once you open your account, your mobile number becomes your ID and wallet account number. The account number will be required when you or a third party want to fund your account. Save for any limits that are applicable to the account, your account may be credited by transfers from other account holders on the Euzzit App, through bank transfers from the euzzit app or by cards.
8.2 You may transfer the funds in your account to other accounts on the Euzzit App, and to any bank operating within Nigeria.
8.3 We may not process your transfer or payment if:
8.3(a) your instructions are unclear.
8.3(b) you have insufficient funds.
8.3(c) there is a suspicion of criminal, fraudulent or illegal activity on your Euzzit Account.
8.3(d) there is a suspicion of unauthorized access on your Euzzit Account.
8.4 You are responsible for providing the correct details for the recipient of your transfers or payments. Where payments are made according to your instructions and those instructions were wrong but authorized, we will work with our partners to assist you in retrieving the amount if you notify us promptly. Where we are unable to retrieve the payment, we will assist you with the relevant information in our possession that you may need to reclaim your funds.
8.5 You may be required to set a password/Personal Identification Number (PIN) to carry out transactions using your account. When you enter your password to confirm a transaction, you confirm that we may treat the transaction as having been authorized.

9.0 Liability.

NB: Euzzit Limited shall not be liable for payments, Bank transfers made to any merchant. All transactions are made at the risk of the customer!

9.1 Where the unauthorized payment arises from your failure to keep the personalized security features of your Euzzit Account safe, you shall remain liable.

9.2. If you fail to notify us without delay of any loss of your password or an event that could reasonably be expected to have compromised the security of your Euzzit Account after you have gained knowledge of such event in which case you shall remain liable for losses till such account is blocked.

9.3 All errors made in the cause of transactions should be brought to our notice with 7 days.

9.4 Without prejudice to the foregoing, you are asked to check the transaction history of your Euzzit Account regularly and frequently and to immediately contact Customer Service in case you have any questions or concerns.

9.5. In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.


Euzzit Limited in partnership with Smile Multi-Purpose Cooperative gives loan to her members depending on usage of Euzzit account. Every loan defaulter forfeits his/her ZIT and all benefits that comes with it. Only those that are 18years and above would be able to assess loans from us and it comes with an interest of 2%. When a user successfully pay back the loan with interest their ZIT remains intact, failure to pay the equivalent of their ZIT will be taken for it.


This could be compared to an insurance cover to members of the smile multipurpose cooperative at the demise of a member. This is paid to one person (next of kin) provided by the account holder.


This is available to members of the smile multi purpose cooperative who has maintained a Euzzit account for at least 10 (ten) years and is over the age of 50 years. The amount earned is dependent on the ZIT acquired. (www.euzzit.com/benefits).

For more information do contact us at hello@euzzit.com