•  Jan. 22, 2024   Admin

The Privacy Policy

This Privacy Policy regulates how personal information can be used byUniversal Investment and Development Company Limited herein after referred to as “UIDC Limited” or “Finance Company”. 

In line with the provisions of the Nigeria Data Protection Regulation and other applicable Data Privacy laws and regulations, UIDC Limited maintains the following privacy principles, which govern how we collect, use, and manage your personal data.

1. 1. Lawful Reasons for Collecting Personal Data by the Finance Company
   2. The Consent of the Data Subject.
   3. Offer of Financing and allied services to the Data Subject.
   4. Offer of employment to the Data Subject.
   5. Performance of Contract.
   6. Compliance with Legal obligation.
   7. Necessary to protect the vital interests of a person in line with Data Privacy regulations.
   8. Necessary for the performance of a task carried out in the public interest.

In the legitimate interests of the Finance Company (except where those interests are overridden by the interests or rights and freedoms of the data subject).

Collection of Personal Information 

UIDC Limited is a registered Finance Company with Headquarters at 6 Universal Street, Off Refinery Road, Effurun, Delta State, Nigeria, with branches offices in Edo, Delta and Rivers State.

 As a responsible business, UIDC Limited is committed to compliance with data protection regulations in collecting and processing personal data as defined in the Nigeria Data Protection Regulation (NDPR) and the General Data Protection Regulation of the European Union (GDPR) and other applicable Data Privacy regulations.

The NDPR and GDPR give you certain rights regarding our use of your personal data, including the right to:

1. 1. Request access to the personal data we have collected about you to review, modify, or request deletion of the data.
   2. Request a copy of the personal data that we have collected about you and to have any inaccuracies in that data corrected.
   3. Request that we cease processing your personal data.
   4. Lodge a complaint with a competent data protection authority.

Data portability

Note that some laws may prevent us from providing access to your personal data or otherwise fully complying with your request depending upon the circumstances and the request. For example, producing your information may reveal another person’s identity. We reserve the right to charge an appropriate fee for complying with your request where applicable law allows, and/or deny your requests where they may be manifestly unfounded, and excessive, or otherwise objectionable or unwarranted under applicable law.

What do we need?

UIDC Limited will be known as the “controller” and “processor” of the personal data you provide to us. UIDC Limited is a registered Finance Company with Head Office at 6 Universal Street, Off Refinery Road, Effurun, Delta State and other branches in Delta, Edo and Rivers State of Nigeria.

We will only collect basic personal data from you, which will include Name, Address; Nationality; Email, Phone number, ID Number, Bank Verification Number (BVN) and any other information as may be mandated by the regulatory requirements of the respective countries and their applicable central bank requirement.

We will NEVER ask for personal banking information such as card details (CVV); PIN, Password; Secure Passcode; or Token number.

Why do we need it?

We require your basic personal data to provide you with banking and financing services you have engaged us for based on the requirements from the respective Central banks and/or governmental regulations in line with the applicable Data Privacy regulations and our Data Privacy Framework/Policy.

What do we do with it?

To enable you to obtain financing services through us, we will require you to collect, store and process some of your personal data as required under the law. Your consent is required to make financing services available to you in accordance with the law/regulation in force.

All the personal data that the Finance Company collects from you will be held and processed from our Facilities at Warri Head Office or any of our branches in a secure manner. Unless required by a Legal or regulatory requirement for the Banking and Financing services, your data will be held confidential. We will take all reasonable actions to ensure that the personal data of all customers and employees are handled securely and in a controlled manner. The Finance Company complies with the latest Information security standards such as PCI-DSS, ISO/IEC 27001:2013 etc.

How long do we keep it?

As a regulated financial services institution, we will retain your personal data for ten (10) years or as may be required by regulation in the country under consideration, after which it will be disposed of as required under the respective Government laws and Banking and Finance Company regulations. Please note that regulations may require the Finance to retain your personal data for a specified period, even after your banking relationship with us ends.

Use or Sharing of Personal Data

All personal data collected will be processed from our Facilities at Warri Head Office or any of our branches in order to complete the service to the customers in line with Nigeria Data Protection Regulation (NDPR), General Data Protection Regulation (GDPR) and any applicable Data Protection Laws.

1. 1. In addition, we may disclose your personal data:
   2. If we are required to do so by law or legal process;
   3. To law enforcement authorities or other government officials;
   4. When we believe disclosure is necessary or appropriate to prevent physical harm or financial loss or in connection with an investigation of suspected or actual illegal activity;
   5. If disclosure is necessary to protect the vital interests of a person;
   6. To enforce our Terms and Conditions;
   7. To protect our property, services and legal rights;
   8. To support auditing, compliance, and corporate governance functions; or
   9. To comply with any applicable laws.

Data Security 

At UIDC Limited, security is our top priority, and we always strive to ensure that your personal data shall be protected against unauthorised or accidental access. We maintain this commitment to data security by implementing appropriate physical, electronic and managerial measures to safeguard and secure your personal data with us.

Our web servers are protected behind "firewalls", and our systems are monitored to prevent unauthorised access. We will not send personal information to you by ordinary email. As the security of ordinary email cannot be guaranteed, you should only send emails to us using the secure email facility on our website.

All practical steps shall be taken to ensure that personal data will not be kept longer than necessary and that the Finance Company will comply with all statutory and regulatory requirements concerning the retention of personally identifiable information.

Our commitment to Data Security is paramount to us at UIDC Limited. Your personally identifiable information is kept secure in line with applicable Data Protection Regulations. Only authorised members of staff, agents, and contractors (who have agreed to keep information secure and confidential) have access to this information.

Security Assurance

UIDC Limited and its customers shall play an important role in protecting against online fraud. You should be careful that your finance company account details, including your User ID and Password, are not compromised by ensuring that you do not knowingly or accidentally share, provide, or facilitate unauthorised use of it. Please do not share your User ID and password or allow access or use of it by others. UIDC Limited endeavours to put in place high standards of security to protect your interests.

You should safeguard your unique User ID and Password by keeping them secret and confidential. Never write them down or share these details with anyone. If you think your User ID and password have been disclosed to a third party, are lost, or stolen, and unauthorised transactions may have been conducted, you are responsible for informing us immediately.

Remedies for personal data violation

If your personal data is violated at any given time, you are at liberty to contact the Data Protection Officer (DPO) of the Finance Company at ict@uidc.com.ng

Within a reasonable timeframe of UIDC Limited receiving a complaint, UIDC Limited shall notify the Individual in line with data privacy requirements of either,

1. 1. UIDC Limited’s position regarding the complaint and any action UIDC Limited has taken or will take in response; or,
   2. when the individual will be informed of UIDC Limited’s position, which date shall be in line with data privacy requirements.

Remedies shall include but are not limited to investigating and reporting to appropriate authorities, recovering the personal data, correcting it, and enhancing controls around it.

Cross Border Transfer

Given the scope of our banking and financing operations, we process data inside and outside Nigeria and rely on legally provided mechanisms to lawfully transfer data across borders. Countries where we process data may have laws different from, and potentially not as protective as, the laws of Nigeria and the EU.

UIDC Limited shall not transfer your personal data to a foreign country or international organisation in contravention of Nigeria Data Protection Regulation, General Data Protection Regulation, and other applicable Data Protection Laws.

Please click?here?to express your consent to allow us to collect and use your personal data to continue providing you with banking services.

Please contact us if you want to know more about our Data Privacy policy and withdraw some or all your consent. We will be more than glad to help you in accordance with the regulations.

Data Retention

As a regulated financial services institution, we will retain your personal data for ten (10) years or as may be required by regulation in the country under consideration, after which it will be disposed of as required under the respective Government laws and Banking regulations. Please note that regulations may require the Finance Company to retain your personal data for a specified period, even after your banking and Financing relationship with us ends.

Your obligations

Where you share personal data of third parties with us, including your directors, officers and authorised signatories (Data Subjects), you are responsible for and warrant that you shall obtain their written consent for the processing and transfer of their personal data for the purpose of your contract with us and the provision of banking services to you.

Changes to Privacy Policy

We review this Privacy Policy regularly and reserve the right to make changes at any time to take account of changes in our business and legal requirements. We will place updates on our website (https://uidcfinancecompany.com.ng/).

Privacy Contact Information

If you have any questions, concerns, or comments about our privacy policy, you may contact us using the information below:

Data Protection Office

UIDC LIMITED

• Email: ict@uidcfinancecompany.com.ng,
•             into@uidcfinancecompany.com.ng
• Phone: +234 816 244 5555,
• UIDC Limited Head Office,
• 6 Universal Street, Off Refinery,
• Effurun, Delta State,
• Nigeria.