Terms of use

1. Introduction: Welcome to Riddo

These Terms of Use (“Terms”) govern your access to and use of the Riddo mobile application (“Platform”), operated by Riddo Integrated Services (“Riddo,” “we,” “us,” or “our”).

By using our Platform, you agree to comply with these Terms.

By continuing to use Riddo, you indicate your acceptance of these Terms. If you do not accept these terms, please discontinue use.

2. Eligibility

To use Riddo, you must:

• Be at least 18 years old
• Possess the legal capacity to enter into binding agreements
• Comply with applicable financial and data protection laws.

3. Opening of a Riddo Account

You must create and maintain a Riddo Account to access Riddo's services and platform features. This account may be registered as an individual account or as a corporate account if you are acting on behalf of a company, organisation, or other legal entity.

All Riddo Accounts are granted at our sole discretion. We reserve the right to reject any account application without providing a reason and may also limit the number of accounts you are permitted to hold.

4. Registration and Onboarding

If any part of the Riddo Platform requires registration to access or use it, you must provide accurate and complete information during the registration process. You are responsible for keeping this information up to date by amending your details as necessary.

Access to the registration areas of the Platform is granted on the condition that:

• You meet all eligibility requirements outlined above
• Your personal login credentials, including your username, email and password, are unique to you and must not be shared with others
• You do not assist anyone who is not a registered user in gaining unauthorised access to any part of the Platform, or use your account to carry out transactions for a third party
• You submit and consent to verification of all KYC documentation, including but not limited to BVN validation and anti-money laundering checks, as may be conducted by Riddo in compliance with applicable laws
• You do not use your Riddo Account to engage in any illegal or prohibited activities, or in violation of any applicable laws, regulations, or statutes
• You do not create multiple accounts with the intent to abuse the Platform or impersonate other users
• You accept full responsibility for all activities that occur under your account, regardless of whether such actions are taken by you, your employees, or third parties (including family members), except in cases causedby Riddo's breach of these Terms
• Riddo and its affiliates are not liable for unauthorised access to your account.
• You must notify us immediately if you suspect that your account has been compromised or if your account information has been lost or stolen
• You agree to comply with these Terms at all times (as may be updated from time to time).

By opening a Riddo Account, you expressly represent and warrant that:

• You are at least 18 years old and fully capable of entering into binding agreements, including accepting these Terms and conducting transactions on the Platform
• You will not register or attempt to register a Riddo Account under any name other than your own, or use your account to transact on behalf of another person
• You will not hold multiple Riddo Accounts, access or use any account other than your own, or assist others in obtaining unauthorised access to any Riddo Account
• You will ensure that your account holds sufficient funds before initiating any transaction
• You will only deposit local currency into your Riddo Account in accordance with the deposit guidelines provided on the Riddo app
• You will not withdraw fiat from your Riddo Wallet to a bank account not held in your name
• You will not use your Riddo Account to engage in any illegal activities or prohibited transactions

In these Terms, “Local Currency” refers to the government-issued fiat currency, which is Naira.

Riddo reserves the right, at its sole discretion and without prejudice to any accrued rights, to restrict, suspend, or terminate your access to the Platform if it determines that you have breached, or are likely to breach, any of these Terms.

By opening a Riddo Account, you acknowledge and agree that Riddo may, without prior notice and at its discretion, suspend, restrict, or terminate the account of any user found to be, or suspected of being, in violationof the letter or spirit of these Terms.

5. Identity Verification

At Riddo, we take identity verification seriously. We follow strong Know Your Customer (KYC) procedures to help prevent fraud, money laundering, and terrorist financing.

To open a Riddo account, you’ll need to provide some personal details and documents. The exact information we ask for depends on the deposit or withdrawal limits you want. In some cases, we may carry out more detailed checks. By using Riddo, you agree that you may go through these checks at any time.

Riddo may:

• Temporarily limit or pause your account if we need to do more identity checks
• Close your account if you give false information or refuse to provide the documents we request
• Please note that these checks may delay access to your account or the ability to make transactions while we verify your information.

Riddo is required by law to keep records of identity verification documents, even after you close your account. You agree that we may store this information for as long as necessary under the law.

6. Riddo Wallet

Your Riddo Wallet lets you send, receive, and store supported digital currencies.

You can only transact with digital currencies that Riddo officially supports. If you send or receive an unsupported currency or send to the wrong wallet address type those funds may be lost and unrecoverable.

Funds in your local currency wallet can only be used to withdraw to your linked bank account. If you sell a supported digital currency, the value (minus fees) will be credited to your local currency wallet. Riddo does not pay interest on wallet balances. You’re responsible for ensuring transaction details are correct before submitting.

Only send supported currencies to their matching wallet addresses. Funds sent incorrectly may be lost. You agree that you have no right to keep any fiat or digital currency sent to you by mistake (including double deposits) and must return it immediately as instructed by Riddo. Riddo may recover such funds and take legal action if you fail to return them. You also agree to cover all related costs if Riddo has to recover the funds from you

7. Deposit

Once your identity is verified, you can deposit local currency into your Riddo Wallet by transferring money to a designated bank account.

The bank account details will be provided by Riddo. Riddo may share your information with a third party to process your deposit. Supported deposit methods may vary and will be disclosed.

To avoid transaction failures, you must:

• Use only your personal bank account or another approved method in your name.
• Deposit only in your wallet’s local currency.

Always include the required reference number or unique deposit amount when making a transfer. Riddo is not responsible for failed or delayed deposits caused by missing information or non-compliance.

If you don’t follow these rules, your deposit may be delayed, rejected, or your account suspended.

8. Withdrawals

Once you’ve added your local bank account to your Riddo Wallet, you can withdraw funds to it. Riddo will follow your instructions, but you're fully responsible for making sure all bank details are accurate. Riddo will not reverse or change any withdrawal if the details are wrong.

Withdrawals to third-party bank accounts are not allowed. Any attempt to do so may be blocked and could lead to your account being restricted or closed.

9. Refer and Earn

Eligibility

Participation in the Refer and Earn programme (“Programme”) is open to Riddo customers who meet these eligibility requirements.

• Participants must be active Riddo users who meet our account verification and regional eligibility criteria.
• Referrals are only valid if they meet all onboarding requirements.

How It Works

Eligible participants may refer new customers to Riddo using their unique referral code. Referrals will be considered valid only when:

• The referred individual is a new Riddo customer.
• The referred customer completes the required onboarding process and their first trade
• The referral meets all criteria and verification checks as determined by Riddo.

Rewards

Rewards will be as stated in Riddo's promotional materials for the Programme, which may vary from time to time. Riddo reserves the right to determine the type, amount, frequency, and payout method for rewards. Rewards will be delivered as a credit or bonus, as stated in promotional materials.

Limits and Restrictions

Riddo may impose limits on the number of referrals or rewards per participant, per time period, or per campaign. Rewards are non-transferable, non-exchangeable, and may not be redeemed for cash unless explicitly stated.

Fraud and Misuse

Any suspected fraudulent activity, misuse, or breach of these Terms (including creating fake accounts or engaging in prohibited conduct) will result in disqualification from the Programme and may lead to account suspension or termination from the refer and earn programme

Tax Responsibility

Participants are responsible for any taxes arising from receiving referral rewards.

Changes and Termination

Riddo may amend, suspend, or terminate the Programme at any time without prior notice. Any changes will be effective from the date they are published on Riddo’s website or communicated through official channels.

10. Indemnity and Limitation of Liability

Riddo and its team (including directors, staff, and agents) are not responsible for any loss or damage you suffer unless it's caused by our proven gross negligence, fraud, or willful misconduct. We are never liable for indirect, special, or consequential losses.

We are not responsible for delays or failures caused by events outside our control, such as technical issues, government actions, strikes, or problems with third-party service providers like brokers, exchanges, regulators or unauthorised access caused by user negligence.

You're responsible for your own decisions when using the Riddo platform, including any trades or transactions. Riddo does not act as your advisor or fiduciary, and nothing on our platform should be taken as investment advice. We do not assess if any transaction is suitable or advisable for you. We're not required to contact you about changes in market conditions. You are solely responsible for monitoring your transactions and giving timely instructions. We won't be liable for any loss caused by delays in your actions or market changes.

Any claim you make against Riddo or its affiliates is limited to the total fees we earned from you in the month before the issue occurred.

Riddo will not be liable for any loss arising from your use of the platform due to events beyond our control, including system failures, communication issues, unauthorised access, natural disasters, strikes, or government actions.

We are not liable for losses caused by any agent or third party acting for you.

11. Provided Services

Riddo provides the following services, subject to updates and applicable laws:, in whole or in part, for any individual, geographic area, or jurisdiction at our sole discretion, at any time.

• Crypto-to-fiat conversion.
• Fiat withdrawal to the designated bank

Note: All services are subject to compliance with applicable and relevant regulations.

Riddo does not provide financial, investment, or professional advice. All decisions to store, buy, or sell digital assets are solely your responsibility and should reflect your financial situation and risk tolerance. Always consult a legal or tax advisor for guidance specific to your needs.

12. Prohibited Activities

You agree not to:

• Use Riddo for illegal purposes (e.g., money laundering, fraud, financing terrorism).
• Interfere with platform security or functionality.
• Create multiple accounts for abusive or exploitative purposes.
• Share your account or impersonate others.
• Engage in price manipulation or deceptive crypto trading practices.

Violation may result in account suspension or permanent ban without prior notice.

13. Payment of Fees & Charges

We may charge fees for certain services (e.g., trades, withdrawals, gas fees). All fees will be disclosed in-app before any transaction. By proceeding, you agree to pay the applicable fees in connection with your use of Riddo’s services.

If you owe us an amount in one Digital Asset and do not hold enough of that specific asset, we may use another Digital Asset in your Riddo account to recover the outstanding amount. In such cases, we will convert your available Digital Asset into the required one (or its Fiat equivalent) using the current rate on our Platform or another commercially reasonable rate we determine.

If your Riddo account does not hold enough Digital Assets overall, you agree that the unpaid amount becomes an immediate debt owed to us. We may determine the form of repayment (whether in Digital Assets or otherwise) in a commercially reasonable manner.

Riddo reserves the right to update fee structures. You'll be notified via app or email.

14. Risk Disclosure

Cryptocurrency trading involves significant risk. You acknowledge and agree that:

• The value of digital assets can fluctuate widely.
• You are solely responsible for your investment decisions.
• Riddo does not offer financial advice or guarantee profits.

15. Privacy & Data Protection

Your data is collected and processed per our Privacy Policy. By using Riddo, you consent to:

• KYC verification (including biometric data).
• Secure processing and storage of your data.

See our Privacy Notice for more details.

16. Intellectual Property

All content, trademarks, software, and designs on Riddo are owned by Riddo or licensed to us. You may not copy, reverse engineer, or distribute any part of the Platform without our written consent.

17. Suspension & Termination

We may suspend or terminate your account for reasons including:

• Breach of these Terms.
• Suspected illegal activity. including cancelling or reversing transactions where necessary or as required by law.
• Regulatory obligations.

You may also close your account by contacting us at comms@riddohq.com Certain data may be retained for legal or audit purposes.

18. Changes to Terms

We may modify these Terms occasionally. We will notify you of material changes via:

• App pop-ups
• Email notification

Continued use after the changes means you accept the new Terms.

19. Closing Your Riddo Account

You may close your Riddo Account at any time by messaging customer support. There are no fees for closing your account, but you must settle any outstanding obligations. We may cancel pending transactions and deduct any amounts owed to Riddo before closure.

In some cases, you may not be able to close your account, including if:

• You are under investigation.
• You have pending transactions or unresolved claims.
• Your account has outstanding balances.
• Your account is subject to any restrictions, holds, or compliance-related actions.

Withdraw all remaining fiat before requesting closure. If you fail to do so or your account remains inactive for 90 days, we may treat it as dormant and notify you. If you do not respond within 30 days:

• Your account may be marked as dormant.
• A monthly maintenance fee may apply.
• We may close the account at any time.

Riddo is not liable for any loss arising from asset conversion or dormancy. Rewards or incentives will not apply to dormant accounts.

20. Governing Law & Dispute Resolution

All complaints or queries must be directed to our customer support via the support page on Riddo. If a dispute arises over a transaction or related communication, Riddo may close the transaction at its sole discretion and without notice to limit potential exposure. We will not be liable for any market movements after such closure.

The laws of the Federal Republic of Nigeria govern these Terms. Disputes shall be resolved first through amicable negotiation and, if unresolved after 30 days, through arbitration in Abuja in line with the Arbitration and Mediation Act 2023.

21. Contact Us

For questions or complaints:

Email: comms@riddohq.com