It is important that you read these carefully


These Terms and Conditions apply to and regulate the provision of credit facilities advanced by Kudi Capital Management Limited (“Kudi Capital”) using the Kudimoney.com platform (kudimoney) to the Borrower herein. These Terms and Conditions, together with Kudi Capital offer letter set out the terms governing this Loan Agreement.


  • The daily interest rate for the Loan is fixed for the term of any outstanding loan.
  • The rate used is the rate reflected on the offer letter and has been used to calculate the repayment schedule.

  • Kudi Capital may in its sole discretion increase or decrease the prevailing interest rate for any reasons with or without prior recourse to the Borrower.
  • Any change in interest rate will take effect on the Borrower’s account following a minimum of 7 days written notice.
  • All charges will be capitalized into the interest calculation.


All payments by the Borrower will be made by one of the following methods:

  • Direct Debit from the borrower’s debit card (also commonly referred to as ATM card) on due date. This will be done in line with the repayment schedule agreed between Kudi Capital Management and the Borrower.
  • Post dated cheque(s) to Kudi Capital issued from the Borrower’s current account in line with the repayment schedule. The cheque issued should be from the same bank the principal was credited to.
  • Direct Debit from the Borrower’s primary account.
  • The Borrower can pay directly via transfer or cash lodgement into a designated Kudi Capital account before due date, using their name and unique membership number as reference. Without the correct reference details Kudi Capital will not be able to attribute the Borrower’s lodgement to the Borrower.
  • The Borrower is expected to notify Kudi Capital via email whenever a direct lodgement is made into Kudi Capital’s account.
  • The Borrower can pay a cheque directly into a designated Kudi Capital account using the same reference as above. All cheque payments will only be recognised as payment once the cheque has been cleared by the Borrower’s bank. Allow 5 working days for cheques to clear.
  • The Borrower can submit a cheque in person or via post to Kudi Capital’s office. Cheques submitted to Kudi Capital’s office will take a minimum of 2 working days to be processed before being taken to the bank upon which an additional 5 working days will be required for the cheque to clear.
  • The Borrower must reference the back of the cheque with full name and unique membership number of the Borrower for the cheque to be valid.
  • Kudi Capital will stop any Direct Debit placed on the Borrower’s account or debit card only if any other form of payment has been cleared into a designated Kudi Capital account.
  • Where there is an overlap between the time a Borrower has used, alternative payment methods and Kudi Capital has debited the Borrower’s account, a reconciliation will be done and the Borrower refunded via a direct credit into their account.
  • The Borrower will be given a dedicated and customized repayment schedule upon approval of the loan application;
  • The Borrower will be expected to make repayments in accordance with the repayment plan; and
  • The Borrower hereby agrees that non payment of the amount owed by the due date shall render the Borrower in default and entitles Kudi Capital to take steps to recover the outstanding loan amount in accordance with section 5 below.
  • In cases where the Borrower makes in full a direct cash payment or a transfer in advance of due date, Kudi Capital will not exercise the Direct Debit mandate.
  • Any refund made to the Borrower for duplicate payment may attract a refund processing fee.
  • In the event of early liquidation of the Loan, the Borrower agrees to repay the full outstanding principal amount, as well as any due interest.


  • Kudi Capital or its duly authorized agents will utilize a dedicated Credit Agency for a credit report on the Borrower in considering any application for credit.
  • The Borrower authorizes Kudi Capital to access any information available to Kudi Capital as provided by the Credit Agency.
  • The Borrower also agrees that the Borrower’s details and the loan application decision may be registered with the Credit Agency.

The Borrower agrees that Kudi Capital may communicate with them by sending notices, messages, alerts and statements in relation to this Agreement in the following manner:

  • To the most recent physical address Kudi Capital holds for the Borrower on file
  • By delivery to any email address provided during the application process.
  • By delivery of an SMS to any mobile telephone number the Borrower has provided to Kudi Capital.


5.1 Default in terms of this Agreement will occur if:

  • The Borrower fails to make any scheduled repayment in full on or before the payment date in accordance with the repayment plan given to the Borrower;
  • Any representation, warranty or assurance made or given by the Borrower in connection with the application for this loan or any information or documentation supplied by the Borrower is later discovered to be materially incorrect; or
  • The Borrower does or omits to do anything which may prejudice Kudi Capital’s rights in terms of this Agreement or causes Kudi Capital to suffer any loss or damage.

5.2 In the event of any default by the Borrower subject to clause 5.1 above –

  • Kudi Capital shall apply a 5% default charge daily on overdue principal and interest until account is made current.
  • Kudi Capital reserves the right to notify the general public (including, but not limited to employer) in the event of default or non-repayment.
  • Kudi Capital reserves the right to assign its right, title and interest under the Agreement to an external Collections Agency who will take all reasonable steps to collect the outstanding loan amount.
  • Kudi Capital also reserves the right to institute legal proceedings against the defaulting Borrower and is under no obligation to inform the Borrower before such proceedings commence.
  • The Borrower shall be responsible for all legal costs and expenses incurred by Kudi Capital in attempting to obtain repayment of any outstanding loan balance owed by the Borrower. Interest on any amount which becomes due and payable shall be charged.


  • This Agreement represents the entire understanding between Kudi Capital and the Borrower.
  • No amendment shall be made unless same is agreed in writing by the parties.
  • The Borrower agrees that in the event this loan application is rejected by Kudi Capital application documents shall not be returned to the Borrower.
  • The Borrower agrees and undertakes that for the period of this Agreement, the Borrower will not close the Borrower’s specified bank account.
  • This Agreement shall be governed by the laws of the Federal Republic of Nigeria and shall be subject to the jurisdiction of the courts of the Federal Republic of Nigeria.
  • If Kudi Capital does not strictly enforce its rights under this Agreement (including its right to insist on the repayment of all sums due on the Repayment Due Date) or grant the Borrower an indulgence, Kudi Capital will not be deemed to have lost those rights and will not be prevented from insisting upon its strict rights at a later date.
  • Kudi Capital reserves the right to transfer or assign its rights and obligations under this Agreement (including its obligation to lend money to the Borrower or the amount owed under this Agreement) to another person. Kudi Capital will only inform the Borrower if such a transfer causes the arrangements for the administration of this Agreement to change.
  • The Borrower authorizes and consents to all lawful access, use or disclosure of the Borrower’s particulars in the application by Kudi Capital which may include but shall not be limited to purposes necessary to promote or sustain the business of Kudi Capital; and the Borrower waives any claims the Borrower may have against Kudi Capital arising from any such access, use or disclosure.
  • Applicants/Borrowers that submit fake or fraudulent documentation shall be reported to appropriate regulatory bodies including, but not limited to the Nigerian Police, for prosecution and/or any other penalties as the regulatory body deems fit.
  • The Lender reserves the right to review, verify and screen all details, including but not limited to the loan amount applied for by the Borrower and the Lender is not bound to grant the exact loan amount applied for by the Borrower.

You, (the Borrower) hereby confirm that you have read, understood and agreed to the above terms and conditions. You also authorize Kudi Capital to present the repayment instrument issued by you (in favour of Kudi Capital Management) for the repayment of the Loan as and when due until the Loan has been fully paid and if, for any reason whatsoever, your account is not funded at the time of presentation, you shall be criminally liable under the Dishonored Cheques (Offences) Act, CAP D1, LFN 2004.