Legal

Privacy Policy

How Bowman Microfinance Bank collects, uses, shares, stores, and protects your personal information.

Last updated: April 28, 2026

Privacy Matters

We know that data privacy is an important issue today. We want you to enjoy your interaction with us while knowing that we value your personal data and protect it.

This policy provides a clear overview of how Bowman Microfinance Bank processes your personal data, the purposes for which we process it, and how you can exercise your rights.

The Information We Collect

We collect only the information necessary in relation to transactions, relevant rules, and regulations. This data is essential for providing our products and services.

Data We Collect Directly

  • Account and identity data: name, gender, date of birth, address, mobile numbers, work address, photo ID, passport information, National ID card, and nationality.
  • Transaction data: information related to opening accounts, applying for loans, sourcing investments, and completing transactions.
  • Correspondence data: information shared when you contact our customer service desk for complaints or disputes.

Data We Collect From Third Parties

  • Credit history: information from credit bureaus.
  • Regulatory data: due diligence results and transaction details used to detect suspicious or unusual activities and support our regulatory obligations.

Lawful Bases for Processing Your Data

Bowman Microfinance Bank processes your data for specific, legitimate, and lawful purposes in line with the Nigerian Data Protection Regulation and other financial laws.

  • Contract necessity: for providing our services and managing our relationship with you.
  • Legal obligation: to meet compliance requirements, including fraud prevention, anti-money laundering, and reporting to regulators such as the CBN.
  • Legitimate interest: for security, service continuity, service improvement, and quality assurance, provided your rights are not overridden.
  • Consent: for marketing communications about new products or services, which you may withdraw at any time.

Data Sharing and Third Parties

We share your information only when we have a legal and permissible reason to do so, including situations where regulators require it or where you have given consent for a specific activity.

  • Regulators and law enforcement: such as the CBN, NDIC, EFCC, and other authorities.
  • Service providers: including payment processors, cloud providers, and IT vendors who act on our behalf and must protect your information.
  • Credit bureaus and financial institutions: for credit checks and fraud prevention.

If any service provider hosts data outside Nigeria, we will ensure such transfers comply with the NDPR and maintain an adequate level of protection.

Data Security and Safeguards

Protecting your private information is our priority. We maintain physical and electronic safeguards that align with legal requirements, and we train our staff continuously on proper information handling.

Data Retention Policy

We store personal data only for as long as it is reasonably needed for the purpose it was collected or to satisfy legal and regulatory obligations.

  • Financial records: core customer records, including account and transaction details, are retained for a minimum of six years after account closure.
  • Marketing data: retained until you object or withdraw consent.
  • Retention review: data that is no longer needed and is not subject to retention rules will be securely deleted.

Website, Cookies, and Tracking

When you visit our website for enquiries, browsing, or updates, we may automatically collect certain technical information.

  • Data collected: this may include IP address, device identifiers, cookies, and analytics data.
  • Use of cookies: cookies help the website function better, remember preferences, and provide usage statistics.
  • User choices: most browsers allow you to manage, block, or delete cookies, though this may affect your experience.

Marketing and Opt-Out Controls

  • Marketing messages: we may send product and service information by email or mobile number where we have your explicit consent.
  • Right to opt out: you can unsubscribe from marketing emails or contact us directly to withdraw consent.

Your Rights Over Your Personal Information

As a customer, you have important rights over how your information is used and shared.

  • Right to be informed: you will be told why your information is requested and why it is necessary.
  • Right of access: you may request access to the personal and financial information we hold about you.
  • Right to deletion: you may request erasure where there is no overriding legal or regulatory basis for retention.
  • Right to data portability: we will support safe movement or transfer of your data where applicable.
  • Right to object: you may object to certain uses of your data, especially for direct marketing.
  • Right to restriction: you may request limits on how your data is processed in appropriate situations.

Contact

For further information about this Privacy Policy, contact Bowman Microfinance Bank at 42, Montgomery Road, Yaba Lagos.

Email: info@bowmanmfb.com.ng

Phone: +2349165127773

This Privacy Policy may be updated periodically. We will notify you of any significant changes.