Privacy Policy Notice

This Policy Notice provides you with information on how your Personal Data is collected, used, stored, managed, and transferred by the Financial institution, and also explains how you can update your Personal Data with us and exercise your rights in respect of the Personal Data provided to us.

Data Protection and Privacy Policy

Personal Data

Under the Nigeria Data Protection Acts 2023, Personal Data may be defined as:

“Any information relating to an individual, who can be identified or is identifiable, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or one or more factors specific to the physical, physiological, genetic, psychological, cultural, social or economic identity of that individual”.

Scope of Data Processing

As a Financial institution, we are required by law to collect certain data for rendering financial services to data subjects (i.e., our customers) or your level of engagement with us, we do process your personal data. Below is a table containing the major types of personal data, the purpose, and the lawful bases for processing them:

S/N	Purpose of Collection	Type of Data Processed	Purpose for Processing	Legal Basis for Processing
1	Customers	Name, Date of Birth, BVN, NIN, Marital Status, Age, Passport No, Driver’s License	Regulatory compliance i.e. KYC, Identity verification, Screening against Sanction List,	1. Contract Requirement, 2. Account management (opening, maintaining, and servicing your account) 3. Regulatory compliance (reporting to financial regulators, fraud prevention, and anti-money laundering checks)
2	Website	Name, Phone number, company, email, location, Unique ID, IP address, online activity	Identification purpose and traffic on the website	Consent Required
3	Employment	Name, Phone, Email Address, Contact Address, Sex, Date of Birth, passport, medical record, educational record.	Employment Purpose	Contract. This is the major lawful basis. Some instances may involve other lawful basis such as consent, vital interest, or legal obligation.
4.	Security	Name, Phone, Email Address, Contact Address, Sex, Date of Birth, and Passport.	Security	Legal Obligation. For the safety and security of lives and property. Some may involve legitimate interest or public interest where analytics are tailored towards crime prevention.
5.	CCTV	Capture individuals on video footage	For security monitoring and safety of stakeholders	Security: Public safety and security of Financial institution assets

Who Is Responsible for Your Personal Information?

Covest Financial Services is your data controller and is responsible for processing your personal information described in this Privacy Policy. The financial institution will only respond to your enquiries based on your personally identifiable information provided to communicate with you, to provide the tailor-made services you requested, and to manage your account. Any personally identifiable information gathered by the Financial institution will be used for these purposes only. We will not divulge or disclose such data to outsiders, other than to third-party providers that assist us in providing appropriate services. We do not sell, share, rent, or trade personally identifiable information with third parties for their promotional purposes.

We respect your privacy.

Covest Financial Services (“the Financial Institution”) recognizes the importance of safeguarding personal data and respecting individuals’ privacy rights. This Data Protection Policy outlines our commitment to protecting your personal data in accordance with various data protection laws and regulations, which may include but are not limited to:

The Nigeria Data Protection Acts (NDPA)
The General Data Protection Regulation (GDPR)

This policy establishes the framework for how we collect, process, store, and manage personal data responsibly and in compliance with these laws.

The Financial institution respects your privacy and will endeavor to protect every sensitive and confidential information you share with us. We will always seek your consent before releasing any such information to a third party, except if it is required by our regulators or law enforcement agents. They include financial institutions you permit us to deal with, and other third-party service providers that provide certain specialized services for us. We will ensure that we execute a Non-Disclosure Agreement with these service providers to protect our customers’ data.

For further information about our privacy principles:

To request access to, or correction of your personal information, or to make other inquiries regarding your personal information, you may send an email to us at datapro@covestng.com or by writing to:

The Data Protection Officer
Covest Financial Services
25B Olumo Street, Onike,
Yaba, Lagos State,
Nigeria.

About Cookies

Cookies are text files of information created or updated, which are saved on your device or computer when you visit a website. They are stored in your browser and enable a site to ‘remember’ some information between pages or visits. Cookies are used by web servers to identify and track users as they browse through different pages on a website, and to identify users returning to a website.

Types of Cookies

Session/Temporary Cookies: aid our websites in recognizing you and the information provided when you browse through our website. It expires when you end the session by either leaving the site or when web browser is closed.
Persistent/Permanent Cookies: consists of a text file sent by a web server to a web browser, which will be stored by the browser and will remain in use until its expiration date or you delete it.

Cookies on our Website

We use both Temporary/Session Cookies (which expire once you close your web browser), and Permanent/Persistent Cookies (which stay on your device until you delete them).

They are used to enhance the underlisted:

(a) Functionality: These cookies enable technical performance of our websites and allow us to ‘remember’ the choices you make and your preferences.

(b) Performance/Analytical: These cookies allow us to collect certain information about how you navigate the Sites. They help us to understand which parts of our websites are interesting to you and which are not, as well as what we can do to improve them.

How We Use Cookies

Cookies do not contain any information that personally identifies you, but personal information that we store about you may be linked, by us, to the information stored in and obtained from cookies. The cookies used on this website include those which are strictly necessary cookies for access and navigation, cookies that track usage (performance cookies) and remember your choices (functionality cookies). We may use the information we obtain from your use of our cookies for the following purposes:

Track your navigation through our website
Identify your computer when you visit our website
Improve the website’s usability i.e. our Live Chat application to answer questions you have in real time
Track which of the area of the website is appealing to you (your preference for product improvement)
Analyze our website – Traffic (i.e. how many people visit us each day) for website administration.
Targeting cookies are used to give you the best experience.

Third-party cookies

We also use cookies provided by trusted third parties to give you a lasting experience. The following section details which third-party cookies you might encounter through this site.

Google Analytics is used on this website and is the most trusted analytics solutions, which assist us in understanding how you use the site and provides us ways that the Financial institution can improve your experience. These cookies may track things such as how long you spend on the site and the pages that you visit, so we can continue to produce engaging content.

For further information on Google Analytics cookies, please check the official Google Analytics page.

Social media buttons and/or plugins are also used on this site that allow you to connect with your social network in various ways. It works for the following social media sites, including Twitter, LinkedIn, Facebook, YouTube, and Instagram will set cookies through our site, which may be used to enhance your profile on their site or contribute to the data they hold for various purposes outlined in their respective privacy policies

Reject Cookies

You have the right to reject this cookie by clicking Reject on the Preference settings of cookies by adjusting the settings on your browser (see your browser Help for how to do this). Be aware that rejecting these cookies may affect the functionality of this and many other websites that you visit. Rejecting cookies will usually result in also disabling certain functionality and features of this site. Therefore, it is recommended that you do not Reject cookies.

Based on the type of engagement you have with us on our website, we process various categories of your data through embedded applications or codes (which are in some cases called “cookies”) on our website. This may process your pattern of engagement with our website and thereby create automated responses and notifications that seem most likely to suit your interests. We accept your continued engagement with our website as your CONSENT to the processing of your personal data. Click

We use cookies to enhance your browsing experience, content, and analyze our traffic. By clicking “Accept All”, you consent to the use of our cookies.

What Constitutes your Consent?

In a situation where processing of your Personal Data is based on consent, the Financial institution shall endeavor to obtain the requisite consent at the time of collection of the Personal Data. In this instance, you consent to the processing of your Personal Data when you access our platforms, or use our services, content, features, technologies, or functions offered on our website or other digital platforms. You have the right to withdraw your consent at any time, but such withdrawal will not affect the lawfulness of processing based on consent given before its withdrawal.

The Financial institution shall take appropriate measures to ensure that your Personal Data is only processed for the minimum period necessary in line with the purposes set out in this Notice or as required by applicable laws, until a time it is no longer required or has no further use. Once your Personal Data is no longer required, we will adhere to global best practices in ensuring they are destroyed safely and securely.

Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as “Necessary” are stored on your browser as they are essential for enabling the basic functionalities of the site.

We also use third-party cookies that help us analyze how you use this website, store your preferences, and provide the content and advertisements that are relevant to you. These cookies will only be stored in your browser with your prior consent.

You can choose to enable or disable some or all of these cookies, but disabling some of them may affect your browsing experience.

Necessary

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

Functional

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

Performance

Performance cookies are used to understand and analyze the key performance index of the website, which helps in delivering a better user experience for the visitors.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages they visited previously and to analyze the effectiveness of the ad campaigns.

Individual Privacy Rights

We collect Personal Data only for the purposes identified in this Policy, and such information cannot be reused for another purpose that is at variance with the original purpose.

Under the Nigeria Data Protection Acts 2025, you can exercise the underlisted Rights with respect to your Personal Data with The Financial institution:

Withdraw consent at any time. For example, you can withdraw your consent to the receipt of marketing or promotional materials or unsubscribe from our newsletters.
Request for deletion of your Personal Data
Request that The Financial institution restrict the processing of your Personal Data request for information regarding any specific processing of your personal data.
Request for and access your Personal Data collected and stored by The Financial institution.
Object to automated decision-making.
Request rectification and modification of Personal Data kept by the Financial institution
Be informed of and entitled to provide consent before the processing of Personal Data for purposes other than those for which the Personal Data were collected.

The Personal Data that We Collect

When you create an account with us, request further information about our products, fill a form, apply for a job through our website, or subscribe to newsletters on our website, we are collecting your Personal Data for legitimate purposes to enable us to give you financial services and products that suit your needs.

We may also automatically collect some technical information when you visit our website, such as your IP address, and information about your visit, such as the pages that you viewed. This information helps us understand customer interests and helps us improve our website. When you visit our site, the pages that you look at, and a short text file called a cookie, are downloaded to your computer. By visiting and using our website, you agree to our use of Cookies in line with the Institution’s policies. For more details about Cookies, please read our Cookies Policy.

What do we use your Personal Data for?

The Financial institution uses information collected from your Personal Data to communicate with you (including sending marketing or promotional materials to you), provide you with further information about our products and how we can serve you better, or request financial services, process your application for employment with The Financial institution, or to fulfill our contractual obligations with you. We may also process your Personal Data to comply with the provisions of applicable laws.

Alteration of Privacy Policy

The Financial institution reserves the right to alter the foregoing policy for the purposes of advancing data privacy rights, public interest, or complying with lawful directives of the Federal Government, in line with the safeguards under the NDPA and the 1999 Constitution of the Federal Republic of Nigeria.

Also, due to constant changes in technology and regulatory requirements, we may need to change our privacy policies or update this Notice from time to time. You will always be able to find the most recent version of our updated privacy policy on this site.

Under what circumstances will Covest Financial Services contact me?

As we would not like to intrude on your privacy, we would not ask irrelevant or unnecessary questions anytime we engage you, and any information provided will be subject to rigorous measures and procedures to minimize the risk of unauthorized access or disclosure

Contact & Communication

For further information on this Notice, or if you wish to contact our Data Protection Officer, kindly address your request to dpo@Covestfinancialslimited.com or datapro@covestng.com or by writing to:

The Data Protection Officer
Covest Financial Services
25B Olumo Street, Onike,
Yaba, Lagos State,
Nigeria.

Remediation

You can also contact the Nigeria Data Protection Commission if you have any questions relating to the processing of your personal data by The Financial Services. Contact the DPSU via this link: dpo@ndpc.gov.ng

Why does Covest Financial Services need to collect and store personal data?

The Financial institution will need to collect personal data to enable us to provide a personalized financial service to you. When you sign up for any of our Online solutions or services, or promotions that require registration, the financial institution will request your personal information (such as your name, phone number, financial institution Verification Number (BVN), email address, Gender, etc.). For certain services, such as account opening, debit, payment services, etc. Typically, this information is not stored, and when we do, if there is a need to store the data, it is encrypted on secure servers.

The technology may compare the information you provided with the one on the financial institution database or third parties for transaction verification and authentication purposes in order to provide you with a better experience and to improve the quality of our services. The Financial institution will ensure global best practices are adhered to in ensuring that the information we collect and use is appropriate for this purpose, and does not constitute an invasion of your privacy.
For marketing purposes, Covest Financial Services would contact you to seek your additional consent in this regard.

Will Covest Financial Services share my personal data with anyone else?

Covest Financial Services will only share personal information with third parties under the following limited circumstances:

Consent is given. We will require your consent before sharing any sensitive personal information
We provide such information to our subsidiaries, affiliated companies, or other trusted businesses or persons for the purpose of processing personal information on our behalf. We require that these parties agree to process such information based on our instructions and in compliance with the Nigeria Data Protection Regulation and any other appropriate confidentiality and security measures (execution of Non-Disclosure Agreement).
We have a good faith belief that access, use, preservation, or disclosure of such information is reasonably necessary to

(a) Applicable law: To satisfy any applicable law, regulation, legal process, or enforceable governmental request, enforce applicable Terms of Service, including investigation of potential violations thereof

(b) Malicious Attack: To detect, prevent, or otherwise address fraud, security, or technical issues, or protect against imminent harm to the rights, property, or safety of Covest Financial Services, its users or the public as required or permitted by law.

(c) Merger and Acquisition: If Covest Financial Services becomes involved in a merger, acquisition, or any form of sale of some or all of its assets, we will provide notice before personal information is transferred and becomes subject to a different privacy policy.

Log information

When you access Covest Financial Services, our servers automatically record information that your browser sends whenever you visit a website.

User communications

When you send an email or other communications to Covest Financial Services, we may retain those communications in order to process your inquiries, respond to your requests, and improve our services.