Privacy Policy

Kaara and its affiliates (hereinafter, "the Company", "we", "us" or "our") are committed to protecting and respecting your privacy.

This Privacy Policy (together with our Terms and Conditions) governs our collection, processing and use of your Personal Information.

"Personal Information" is information which identifies you personally or by which your identity can reasonably be ascertained. This may include your name, address, e-mail address, and other contact details.

The purpose of this Privacy Policy is to inform you of:

  1. the kinds of Personal Information which we may collect about you and how it may be used;
  2. our use of information regarding IP Addresses and our use of cookies;
  3. how your Personal Information may be disclosed to third parties;
  4. your ability to access, correct, update and delete your Personal Information; and
  5. the security measures we have in place to prevent the loss, misuse, or alteration of Personal Information under our control.


We may collect your Personal Information if you use this website, open an Account via Kaara.oi or perform any Transactions on Kaara.oi. We may also collect Personal Information about you from recordings of telephone conversations between us and you (or your representatives) and from publicly available registers.

Some of the Personal Information we collect is required by us to meet our legal and regulatory obligations (e.g. information required to verify your identity). Otherwise, the Personal Information we collect is required in order for us to provide our services efficiently and effectively.

The types of Personal Information which we collect may include: your name; your photographic identification; your address; your phone number; your e-mail address; your banking details including account numbers; your date of birth; and information about your Transactions.

We may use your Personal Information for the following purposes:

  1. To allow you to open and operate an Account on Kaara.oi;
  2. To confirm your identity;
  3. To process trading and non-trading operations;
  4. To enable you to complete Transactions on kaara.oi;
  5. To correspond with you in relation to your Account and your Transactions;
  6. To analyze use of our services we provide;
  7. As required for legal and regulatory purposes, including for dispute resolution purposes;
  8. to provide you with information about products, services and promotions that may be of interest to you, from ourselves and third parties;
  9. For market research e.g. surveying our Users' needs and opinions on issues, such as our performance etc.
  10. To carry out the Company's anti-money laundering policy;
  11. To inform you of the Company’s products or services that may be of interest to you;
  12. For recording, classification, aggregation, storage (updating, changing) extraction, use, transfer (distribution, provision of access) anonymization, blocking, deletion, and destruction of any information relating directly or indirectly to you, your trade transactions and payments, in accordance with this Privacy Policy

You should note that you are not obliged to give your Personal Information to the Company, but if you choose not to do so, we may not be able to provide our services, or your access to our services may be limited.


We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and security screening for customers who use VPN services, TOR, or any other similar service. This is statistical data about our users' browsing actions and patterns and does not identify any individual.


We use device identifiers to personalise notifications to your mobile phones and analyse our traffic. We also use same identifiers and other information from your device with our social media, advertising and analytics partners.


We use the Personal Information for the purposes indicated at the time you provide us with such information, and/or otherwise for the purposes set out in this Privacy Policy and/or as otherwise permitted by law. We may make available the Personal Information that you provide to us to our affiliates, agents, representatives, service providers and contractors for these purposes. We may share Users' Personal Information with financial institutions or insurance companies as required for the purposes of the Company's dealings with those institutions, and with other companies in the case of a merger, divestiture, or other corporate re-organization. We may share Users' Personal Information with the Security and Exchange Commission, any financial dispute resolution scheme to which the Company subscribes, and other law enforcement bodies, regulatory agencies, courts, arbitration bodies and dispute resolution schemes, both in Nigeria and internationally, as may be required by law. If you request it in writing, we may share your Personal Information with your nominated advisers. Except where disclosure of your Personal Information is required by law or requested by you, we will generally require any third party which receives or has access to Personal

Information to protect such Personal Information and to use it only to carry out the services they are performing for you or for us, unless otherwise required or permitted by law. We will ensure that any such third party is aware of our obligations under this Privacy Policy and we will take reasonable steps to ensure that contracts we enter with such third parties binds them to terms no less protective of any Personal Information disclosed to them than the obligations we undertake to you under this Privacy Policy or which are imposed on us under applicable data protection laws.


You have the right to access the Personal Information we hold about you, and to require the correction, updating and blocking of inaccurate and/or incorrect data by sending an email to us. We will usually respond to your request within 14 days. You may also request the deletion or destruction of your Personal Information, your Account details or your Transaction details by sending an email to us. The Company will act on your request only when it is not inconsistent with its legal and regulatory obligations and compliance procedures. Upon your written request, we will inform you of the use and general disclosure of your Personal Information. Depending on the nature of your request, there may be a minimal charge for accessing your Personal Information.


WE take the issue of security very seriously and take all possible measures to ensure the safety of your confidential information, including adhering to strict standards for the internal use of confidential information and using leading data storage technology. When making a payment with a credit/debit card, you will be transferred to the site of the processing center where you will fill out a form. To prevent the unauthorized use of your credit/debit card, your card information is transmitted to Kaara in shortened form and through a secure server However, we give no guarantee that such misuse, loss, unauthorized access, modification or disclosure will not occur.


We will hold your Personal Information only for as long as it is necessary for us to do so, having regard to the purposes described in this Privacy Policy and our own legal and regulatory requirements. In general, Personal Information relating to your Account for at least a period of five years after your Account is closed. Similarly, we usually retain information about Transactions on your Account for a period of five years from the date of the Transaction. Personal Information which is collected for other purposes will be discarded in accordance with our policies in place from time to time.

We are authorized to provide for the victim and the involved parties in case your account is related to fraudulent activities or legal violations.


There may be links from our Site to other sites and resources provided by third parties. This Privacy Policy applies only to our Site, and any correspondence had with us via Kaara.oi. Accessing those third party sites or sources requires you to leave our Site. We do not control those third party sites or any of the content contained therein and you agree that we are in no way responsible or liable for any of those third party sites, including, without limitation, their content, policies, failures, promotions, products, services or actions and/or any damages, losses, failures or problems caused by, related to or arising from those sites. We encourage you to review all policies, rules, terms and regulations, including the privacy policies, of each site that you visit.


Our policies, content, information, promotions, disclosures, disclaimers and features may be revised, modified, updated, and/or supplemented at any time and without prior notice at the sole and absolute discretion of the Company. If we change this Privacy Policy, we will take steps to notify all Users by a notice on our website and will post the amended Privacy Policy on the website.


You have the right to access your Personal Information to correct, update, and block inaccurate and/or incorrect data. To exercise this right, contact us at Kaara will respond to your request only where this is not inconsistent with our Terms of Use and other legal and regulatory obligations. Within 40 days of receipt of your written request and payment of a N5,000 fee, we will provide you with your Personal Information, including the purposes for which it was used and to whom it was disclosed to in accordance with your Subject Access Request rights under the Privacy Act.


You understand that trading at Kaara is associated with high risk and realizes the probability of substantial losses from trading transactions. Prior to commencing the trading activity, it is highly recommended to conduct a careful analysis of one’s financial state. You realize that there exist a risk of complete loss of a deposit while trading at the market.

You admit that Kaara is not liable for your losses, caused directly or indirectly by the restrictions imposed by the Government, foreign exchange or market regulations, trading suspension, acts of war or other conditions usually referred as “force majeure” and which are beyond the reasonable control of Kaara hereto.

You are informed about the other additional risks, associated with the work of electronic trading systems, and also problems of internet connections.

You take full responsibility for the risks associated with the storage of the credentials to the trading account and you are obliged to prevent the accessibility of the third parties to the trading facilities. Your losses and risks associated with the restoration of the access to the trading account do not impose obligations on the Company, except submitting you with new credentials provided that you is sufficiently and unambiguously identified as this account owner.

Technical Risk

You shall assume the risk of financial loss caused by the failure of information, communication, electronic and other systems. When executing trading operations through your terminal, you shall assume the risk of financial loss, which can be caused by: a) the failure of your hardware, software and internet connection; b) the improper operation of your equipment; c) the wrong settings in your terminal; d) delayed terminal updates; and e) your ignorance of the applicable rules described on Kaara.


You shall assume the risk of any financial loss caused by you. You acknowledge that unencrypted information transmitted by email is not protected from unauthorized access. You shall hold full responsibility for the safekeeping of information received from Kaara and assume the risk of any financial loss caused by unauthorized access to your trading account by a third party. You hereby assume all risks of financial loss caused by a force majeure.

Statutory Prohibitions and Restrictions

You hereby assume all financial and other risks when completing operations (or actions connected with these operations) on financial markets that are statutorily prohibited or restricted by the legislation in Nigeria or of the country in which you is resident.


Kaara is a marketplace that connects and facilitates money exchange and settlement for people looking to swap their currencies. The features on Kaara allow users easily and instantly exchange currency in the open market without fear of losing funds to the other party that he/she wants to exchange funds with. The entire exchange process is done through a controlled, transparent and secured virtual wallet account owned by the users.

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