Lodum Lodum

Legal

Privacy Policy

Last updated: 1 May 2026  ·  Effective date: 1 May 2026

Overview

Lodum Technologies Limited ("Lodum", "we", "us", or "our") operates the Lodum banking and payments platform accessible via WhatsApp and Telegram. This Privacy Policy explains what information we collect, how we use it, and your rights regarding that information.

By using Lodum, you agree to the collection and use of information in accordance with this policy. We are committed to protecting your personal and financial data in line with the Nigeria Data Protection Act (NDPA) 2023 and applicable CBN regulations.

Data We Collect

We collect the following information to provide and improve our services:

  • Identity data — full legal name, date of birth, national ID or BVN (Bank Verification Number), and a selfie for identity verification.
  • Contact data — phone number linked to your WhatsApp or Telegram account, and email address if you provide one.
  • Financial data — Lodum wallet balance, transaction history, linked bank account details, and saved billers.
  • Usage data — the messages you send to Lodum, features you use, time and frequency of interactions, and device/platform information.
  • Device data — IP address, device model, operating system, and mobile network operator.
  • Event & business data — if you use our payments or ticketing features: your business name, event details, payment amounts collected, and payer information.

We do not collect your WhatsApp or Telegram message history outside of your direct conversations with Lodum.

How We Use Your Information

  • Verifying your identity and creating your Lodum account (KYC compliance under CBN directives).
  • Processing financial transactions including money transfers, bill payments, airtime purchases, and event ticket sales.
  • Detecting and preventing fraud, money laundering, and other financial crimes.
  • Complying with legal obligations including CBN, NFIU, and NDPC requirements.
  • Sending transaction notifications, account alerts, and service updates via chat.
  • Improving our platform — understanding how users interact with Lodum to fix issues and build better features.
  • Customer support — resolving disputes, reversals, and account issues.

We do not use your data to serve you third-party advertisements.

Sharing & Disclosure

We share your data only in the following circumstances:

  • Regulatory bodies — the CBN, NFIU, EFCC, and other government authorities when required by law or court order.
  • Banking & payments partners — licensed financial institutions, switching companies (NIP/NEFT), and payment processors required to execute your transactions.
  • Identity verification providers — third-party KYC services that verify BVN and NIN against NIMC/CBN databases.
  • Infrastructure providers — cloud hosting, messaging APIs, and analytics services operating under strict data processing agreements.
  • Business & event payees — when you make a payment via a Lodum payment link or event ticket, limited details (payment confirmation, payer name) are shared with the recipient.

We never sell your personal data to marketers, data brokers, or any third party for commercial purposes.

Data Security

We implement industry-standard security measures to protect your data:

  • All data in transit is encrypted using TLS 1.2 or higher.
  • Sensitive financial data is encrypted at rest using AES-256.
  • PINs and authentication tokens are hashed and never stored in plain text.
  • Your funds are held in NDIC-insured accounts at CBN-licensed institutions.
  • Access to customer data is restricted to authorised Lodum staff on a need-to-know basis, with full audit logging.
  • We conduct regular security audits and penetration tests.

Despite our best efforts, no method of transmission over the internet is 100% secure. If you suspect unauthorised access to your account, contact us immediately at security@lodumai.com.

Your Rights

Under the Nigeria Data Protection Act (NDPA) 2023, you have the following rights:

  • Access — request a copy of the personal data we hold about you.
  • Correction — ask us to correct inaccurate or incomplete data.
  • Deletion — request deletion of your data, subject to our legal and regulatory retention obligations.
  • Portability — receive your data in a structured, machine-readable format.
  • Objection — object to certain uses of your data, including direct marketing.
  • Withdraw consent — where processing is based on consent, you may withdraw it at any time.

To exercise any of these rights, contact privacy@lodumai.com. We will respond within 30 days. You may also lodge a complaint with the Nigeria Data Protection Commission (NDPC) at ndpc.gov.ng.

Data Retention

We retain your personal and financial data for as long as your account is active and as required by Nigerian law. CBN regulations require us to retain transaction records for a minimum of 5 years after account closure. KYC documents are retained for at least 5 years from the date of last transaction, as required by the Money Laundering (Prevention and Prohibition) Act 2022.

When data is no longer required, it is securely deleted or anonymised.

Third-Party Services

Lodum operates over WhatsApp (Meta Platforms Inc.) and Telegram (Telegram Messenger Inc.). Your use of those platforms is also governed by their respective privacy policies. We recommend reviewing:

Lodum is not responsible for the data practices of these platforms. We only access the message content you direct to the Lodum bot — we have no access to your other conversations.

Policy Changes

We may update this Privacy Policy from time to time to reflect changes in our services, legal requirements, or best practices. When we make material changes, we will notify you via a message from the Lodum bot and update the "Last updated" date at the top of this page.

Continued use of Lodum after notification of changes constitutes acceptance of the updated policy.

Contact Us

For privacy-related questions, data requests, or concerns:

Our Data Protection Officer (DPO) can be reached directly at dpo@lodumai.com.