Busha Legal
Account Deletion Notice
Nigeria
Last updated: October 10, 2025
Version 1.1.
- Inclusion of the Nigerian Data Protection Act.
- Inclusion of what happens when assets are transferred to your wallet address after you delete your account.
You are seeing this page because you have commenced the process of requesting a deletion of your Busha account. This notice informs you of the nature of your right to account deletion and how we process account deletion at Busha.
1. General information
- When you request a deletion of your account, we will proceed to disable your account within Busha’s systems and delete data linked to your account in accordance with the provisions of the Nigerian Data Protection Act, 2023and other applicable laws.
- For further general information about your privacy, the types of personal data we hold about you, the reasons for the collection of personal data, and other information, please read our privacy notice here.
2. Account deletion process
- Formal Request: Suppose you are an individual user of the Busha wallet with no affiliation to the Busha Commerce program. In that case, you may make your formal request for account deletion via the Busha App.
- However, suppose your Busha Wallet is connected to the Busha Commerce product or any other business/corporate service provided by Busha. In that case, you may only complete your account deletion request by sending an email to Compliance@busha.co.
- Assessment of Request: After your formal request has been filed appropriately, we will proceed to assess your request internally for legal and compliance purposes. This may take a minimum of seven (7) business days, after which we will inform you of the status of your request.
- Account closure
- Requesting an account deletion implies that you intend to close your wallet and liquidate your assets with Busha. We encourage you to process a transfer to a third-party exchange before initiating the deletion request.
- However, please note that we will set off any outstanding fees, commissions, or payments for services owed to Busha against your existing balance before we complete your account closure request.
- All pending transactions that have already been authorised will be processed notwithstanding the receipt of your formal deletion request. After all pending transactions are processed, we will proceed to review and respond to your account deletion request.
- Data erasure
- While an account deletion request is typically a request for data erasure, please note that we have obligations under applicable laws and regulations to retain certain types of your personal data and activity logs for a specified number of years, usually not less than 5.
- This includes but is not limited to your Know Your Customer (KYC) information, transaction logs, and recorded activity on our platform. As such, while we disable your account, we do not provide a guarantee that all your data will be deleted.
- Additionally, business and legal requirements oblige us to retain certain information, for specific purposes, for an extended period; these reasons may include:
- Security, fraud & abuse prevention
- Financial record-keeping
- To resolve disputes
- Complying with legal or regulatory requirements
- Account deletion: Subject to the satisfaction of the compliance review on your account, we will proceed to disable your account and delete data that we consider unnecessary for compliance purposes.
- Notification of deletion: Where the account deletion activity specified in (e) above is complete, we will send you a formal notification of the deletion.
2.5 Data erasure
- While an account deletion request is typically a request for data erasure, please note that we have obligations under applicable laws and regulations to retain certain types of your personal data and activity logs for a specified number of years, usually not less than 5.
- This includes but is not limited to your Know Your Customer (KYC) information, transaction logs, and recorded activity on our platform. As such, while we disable your account, we do not provide a guarantee that all your data will be deleted.
- Additionally, business and legal requirements oblige us to retain certain information, for specific purposes, for an extended period; these reasons may include:
- Security, fraud & abuse prevention
- Financial record-keeping
- To resolve disputes
- Complying with legal or regulatory requirements
Risk Warning and Indemnity of Data
Please note that the risks involved in trading or holding digital currencies can be substantial. Before using the Savings Wallet, you should ensure that you understand the risks associated with digital currencies. Digital currency markets can be volatile, and prices can fluctuate significantly, resulting in sudden and significant increases or decreases in the value of your digital currency assets. This market volatility and other risks involved in buying, selling or trading digital currencies are explained on the risk warning page of the Busha website. There may be additional risks not identified in these Terms or the risk warning.
Therefore, carefully consider whether trading or holding Digital Currencies is suitable for your risk appetite.
You are solely responsible for the decision to use our service to deal with our supported digital currency and accept the risk that underlying software protocols relating to the supported digital currency you store in your Digital Currency Wallet may change.
Our Savings Wallet is not a checking account nor a traditional bank savings account, and it is not covered by insurance against losses. We will assign, invest, use, commingle, or otherwise dispose of digital currency assets to counterparties to invest and generate a return.
By utilising the Savings Wallet, you indemnify Busha, its operating entities or any other affiliates (including their respective directors, members, employees or agents), to the maximum extent permitted by law, against any loss, liability action, cost, claim, damages, proceedings or expense that you may suffer, directly or indirectly, in connection with the Savings Wallet, including (without limitation) the loss of digital currencies deposited into your Savings Wallet (whether in whole or in part).
You accordingly hereby waive any claim that you may have against Busha arising therefrom (including in respect of any claim for direct, indirect, consequential or pecuniary damages). You understand and agree that should a counterparty become insolvent or otherwise deliver any deposited amount, this may impact your investment.
You should carefully assess whether your financial situation and risk tolerance are suitable for buying, selling, or lending digital currencies. You accept and agree that Busha does not guarantee the return you may earn on digital currencies held in your Savings Wallet.
Interest - Calculation And Crediting
The Savings Wallet’s interest rate is variable and may fluctuate from time to time. The Busha website/mobile app will communicate the applicable interest rate to you. However, it will vary depending on prevailing market conditions and the interest rates offered by our Deposit Partner(s). We will determine the applicable interest rates at our sole discretion. You acknowledge that such rates may not be equivalent to benchmark interest rates observed in the market for fiat currency bank deposits.
Owners of Savings Wallets will accrue interest daily, and this interest is paid to the spot wallet. Interest paid can be transferred from Spot Wallets to Savings Wallets at the user's discretion. Interest will be calculated by applying an effective daily rate to the principal amount in your Savings Wallet on each day. The Annual Percentage Saved (APS) is the total return paid out if assets/funds are invested for a year. To make the maximum Savings on your assets/funds, you will need to leave your capital in the Savings Wallet for a year, regardless of whether the relevant year is a leap year (365/366).
All interest will be denominated in the relevant Supported Savings Wallet digital currency (subject to liquidity loss provisions below).
Deposits and Withdrawals
You can utilise your Savings Wallet by depositing supported Savings Wallet digital currency into your Savings Wallet from your Busha Spot Wallet. There is no minimum amount required to open a Savings Wallet. Busha may, however, in its sole discretion, choose to institute a minimum balance in the future, which would thereafter be required to open and/or maintain a Savings Wallet.
Busha endeavours to process all withdrawals from Savings Wallets as expeditiously as possible, but must do so in conjunction with its Deposit Partner(s). Withdrawals will be processed to your Busha Spot Wallet, denominated in the applicable Supported Savings Wallet digital currency. Savings Wallet Users may withdraw to their Busha Spot Wallets.
Users of the Savings Wallet can choose to withdraw at any time by choosing between two options: Standard redemption or Fast redemption.
Where standard redemption is chosen, assets in the Savings Wallet would still earn interest for the day of withdrawal, and Busha will transfer the assets/funds to the user’s spot wallet the following day.
Where fast redemption is chosen, assets would be received on the same day as withdrawn; users would be able to receive the assets on the same day without the option of earning the interest on the date of withdrawal.
Please note, however, that Busha does not guarantee a timeline for the processing of withdrawals and expressly disclaims any loss, liability, or damage, whether direct or indirect, which you may suffer as a result of any delay in processing a withdrawal request. Deposit and withdrawals are carried out only on business days, but you agree that we have not provided any guarantee in relation to the deposit and withdrawal processing period.
Busha cannot reverse digital currency transactions once they have been sent to the relevant digital network. Therefore, you are solely responsible for ensuring all instruction and information provided to us regarding all transactions are accurate.
Commission And Fees
As consideration for developing and making the Savings Wallet platform available to you, you acknowledge and agree that Busha will earn a commission on any digital asset deposited in connection with the Savings Wallet. This commission will be factored into the effective interest rate communicated to you, such that the effective interest rate offered to you will be net of any commission or fees. Busha reserves the right to change our fees at any time and will inform all Savings Wallet Users accordingly.
Service Availability
While we will do everything we can to provide continuous operations, Busha does not provide any warranty or guarantee concerning the availability of the Savings Wallet. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Busha website or your Savings Wallet. We make no representation that the Busha website, Busha API, your Busha Account, and/or your Savings Wallet or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions, or loss of transmitted information.
Compliance and KYC
Savings Wallet Users should read this section in collaboration with our KYC policy. Busha implements and maintains high standards of Know Your Customer (“KYC”) processes and controls and is committed to combating fraud and assisting in preventing money laundering and terrorist financing. This is explained more fully on the AML/KYC Policy page of the Busha website. To ensure that we meet these standards, we may require you to provide specific additional documentation and/or personal details when utilising the Savings Wallet (“Identity Verification”).
You represent and warrant that any and all information provided to us is true, accurate, and not misleading in any respect. If any such information changes, you must update such information as soon as reasonably possible.
Busha reserves the right to, at any time:
- Restrict or suspend the use of your Savings Wallet when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or enhanced due diligence ("EDD"); or
- Terminate your Busha Account, and accordingly terminate your Savings Wallet if you provide, or we suspect that you have provided, false or misleading information, or refuse to provide information that we require for Identity Verification and/or EDD purposes.
You accept and agree that there may be delays in accessing your Savings Wallet or in processing deposits or withdrawals through your Savings Wallet. At the same time, we undertake any Identity Verification and/or EDD procedures.
Retention of Information
Busha Savings Wallet Users should also read this section and the Busha Privacy Policy. Busha is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with Busha.
We reserve the right to keep such information and documentation for the required period. You accept and agree that information and documentation you provide to Busha may be retained by us, including following the closure of your Savings Wallet and/or Busha Account. Busha will maintain all information in accordance with the relevant data protection rules.
Restriction, Suspension, Termination
Busha reserves the right to freeze your account, deduct from your balance, convert your assets, restrict, suspend, or terminate your Savings Wallet where:
We reasonably suspect that your Busha Account and/or Savings Wallet is the subject of an operational or other error, in which case we may suspend access to your account until the error is rectified.
we reasonably suspect that your Busha Account and/or Savings Wallet has been or is being used with any unlawful, fraudulent, or Prohibited Activity, or breach of these Terms or our standard Terms of Use;
we reasonably suspect that you or your Busha Account and/or your Savings Wallet is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
we reasonably suspect you of taking any action that Busha considers to be a circumvention of Busha’s controls, including but not limited to opening multiple Busha Accounts and/or Savings Wallets;
we reasonably suspect your involvement in any attempt to gain unauthorised access to any Busha Account and/or Savings Wallet;
your Busha Account and/or Savings Wallet is or appears to be the subject of any legal, regulatory, or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance;
we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or
Busha will make all reasonable efforts to provide you with notice of any decision to restrict, suspend, or terminate your Busha Account and/or Savings Wallet unless we are prevented from doing so by any legal or regulatory process or requirement or where doing so may compromise Busha’s security and/or risk management procedures. You accept and agree that Busha is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend, or terminate your Busha Account. Busha shall have no liability to you in connection with the restriction, suspension, or termination of your Busha Account.
You accept that, once your account is closed:
- We reserve the right to delete all your account information on our server, and the right to retain any information required for legal and operational reasons
- It will not be accessible to you.
- We are under no obligation to notify you of or provide you with any digital currency credited to your Account.
Financial advice
No information provided by this service concerning your account and Savings Wallet provided through any of our platforms shall constitute financial, investment or other professional advice.
You are solely responsible for any decision to load, store, buy, or sell digital currency into a Savings Wallet. Such a decision should consider your risk appetite and financial circumstances. Kindly contact your legal or financial adviser in relation to your specific situation.
Taxes
You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Busha Account, and for withholding, collecting, reporting, and remitting the correct amounts of tax to the appropriate tax authorities.
Disclaimer and Warranties
The Savings Wallet services are provided strictly on an “as-is” and “as-available” basis without any representation or warranty, whether express or implied, to the maximum extent permitted by the applicable law.
Busha expressly disclaims, and you waive, all warranties of any kind, whether express or implied. We make no representations about the accuracy of the historical digital currency data available on the service. Without limiting the generality of the preceding, the Savings Wallet and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.
We will make efforts to ensure that all requests are processed on time, but we make no warranties regarding the length of time required to complete processing, which depends on factors outside our control.
Limitation of Liabilities
In no event shall Busha, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Busha Savings Wallet and/or your Busha Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Busha, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to Busha’s records, programmes or services.
Without limiting the generality of the above, in no event will any liability of Busha, its operating entities, or any other affiliates (including their respective directors, members, employees or agents) arise concerning your use of the Savings Wallet or your Busha Account, exceed (in aggregate) the fees earned by Busha in connection with your use of your Busha Account in the six months immediately preceding the event giving rise to the claim for liability.
The above limitations of liability shall apply to the fullest extent permitted by law in the Federal Republic of Nigeria.
Other useful information
These Terms refer to, incorporate, and include the following additional terms, which also apply to your use of the Savings Wallet.
Our Privacy Policy sets out the terms by which we process any personal data we collect from you or provide to us. By using the Savings Wallet, you consent to such processing, and you warrant that all data provided by you is accurate.
Our Anti-Money Laundering/Know Your Customer Policy sets out the terms regarding identity verification of our Users and the procedures followed for early identification and reporting of prohibited/illegal activities that may be committed by using our services. When using the Savings Wallet, you must comply with this AML Policy.
Entire Agreement: These Terms constitute the entire agreement and understanding between you and Busha concerning this subject matter and supersede all prior discussions, agreements, and understandings of any kind between you and Busha (including but not limited to any prior versions of these Terms).
Change of control: If Busha is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
Governing Law and Dispute Resolution: This Agreement shall be governed by and construed per the laws of the Federal Republic of Nigeria.
All disputes not resolved amicably shall be referred to Arbitration via the Lagos Multi-door Courthouse. The arbitral proceeding shall be in the English language and may be held virtually, subject to the agreement of both parties.
Breach: If you suspect that your Account or any of your details have been compromised or you become aware of any fraud or attempted fraud or any other security incident affecting you and/or Busha, you must notify Busha Support immediately by email at support@busha.co . You must continue to provide accurate information throughout the duration of the Breach. You must take the required steps to reduce and report any Breach. Busha will take failure to provide prompt notification of any Breach into account in the resolution of the matter.
Account inactivity: If you have not accessed your account for a one year period, and we cannot contact you but hold e-money on your behalf, we may be required to report and deliver such funds to the relevant authorities as unclaimed money. We reserve the right to deduct a dormancy fee or administrative charges incurred by holding such unclaimed funds.
Agency: Nothing in these Terms shall be deemed or shall cause either you or Busha to be treated as the agent of the other.
The invalidity of Terms: If any provision of these terms, as may be amended periodically, is determined to be invalid or unenforceable, in part or whole, under any applicable law, this will not affect the validity of any other provision as stated in these terms. The parties shall replace that provision or part thereof with a legal, valid, and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid, or unenforceable provision, given the content and purpose of these Terms.
Transfer or Assignment: This agreement is personal to you, and you cannot transfer or assign your rights, interests, or obligations to anyone else. We may transfer or assign our rights, licences, interests, and obligations at any time, including as part of a merger, acquisition, or other corporate restructuring, provided that this transfer or assignment does not materially impact the quality of our Services. You give Busha your approval to assign or transfer these Terms in whole or in part, including but not limited to: (i) a subsidiary or affiliate; (ii) an acquirer of Busha’s equity, business, or assets; or (iii) a successor by merger.
Force Majeure: Busha is not liable for a breach or non-performance of the conditions of these terms to the extent that circumstances beyond the control of Busha cause the breach, its affiliates, employees, or agents, and for the period those circumstances persist.
Security: Busha will not be held responsible for any claims over any security created over the Savings Wallet balance
Headings: Clause headings in these terms are for convenience only, and shall not govern the meaning or interpretation of any provision.
English language controls: These terms and any information you or we provide should be in English. The translation of these terms and other documents provided on this service is for your information. In doubt, the English language version of this Agreement and other documents shall prevail.
Contact us
If you have any questions or complaints about this agreement, please contact us via via compliance@busha.co