Terms of Service

1. About Trurate BDC

Trurate Bureau De Change Ltd is a company licensed by the Central Bank of Nigeria (CBN) to carry out foreign exchange, currency exchange, and other permitted BDC operations in Nigeria.

All services are provided in compliance with:

• CBN Foreign Exchange Regulations
• Anti-Money Laundering (AML) Laws
• Combating the Financing of Terrorism (CFT) Laws
• Nigeria Data Protection Act (NDPA)

2. Eligibility

To use our services, you must:

• Be at least 18 years old
• Provide valid identification
• Pass required KYC and compliance checks
• Not be on any sanctions, watch, or blacklists

We reserve the right to refuse service to any person where required by law or regulation.

3. Services Offered

Trurate provides:

• Foreign currency exchange
• Travel allowance and PTA/BTAs
• Digital FX requests
• Payment and settlement services
• Any additional FX services approved by the CBN

Rates are determined by market conditions and regulatory guidance.

4. Customer Obligations

You agree to:

• Provide accurate and truthful information
• Not use our services for illegal activities
• Not engage in fraud, money laundering, or currency manipulation
• Use our services only for lawful FX purposes

You are responsible for ensuring that all transactions comply with Nigerian law.

5. KYC, AML & Monitoring

All transactions are subject to: Identity verification, Source of funds checks, Transaction monitoring, Regulatory reporting.

Trurate may delay, freeze, or report any transaction suspected to be unlawful.

6. Exchange Rates & Fees

• Exchange rates are subject to change without notice
• Rates are locked only when a transaction is confirmed
• Fees (if any) will be disclosed before completion
• Trurate is not responsible for losses due to market fluctuations

7. Payments & Settlements

• All payments must come from accounts in the customer’s name
• Third-party payments may be rejected
• Trurate may reverse or hold funds pending verification
• All transactions are final once completed

8. Cancellations & Refunds

Once a currency exchange is executed, it cannot be reversed, except where required by law or due to system error. Refunds, if approved, will be processed to the original payment source.

9. Service Suspension

We may suspend or terminate services if: False information is provided, Regulatory requirements are triggered, Fraud or illegal activity is suspected, A court or regulator orders it.

10. Limitation of Liability

Trurate is not liable for:

• Losses due to FX rate changes
• Delays caused by banks or payment gateways
• Government or regulatory actions
• System downtime beyond our control

Our maximum liability is limited to the value of the transaction in question.

11. Data Protection

Your personal data is processed in line with our Privacy Policy and Nigeria Data Protection Act.

12. Force Majeure

Trurate is not responsible for failure or delay caused by events beyond our control including strikes, system failures, regulatory actions, or natural disasters.

13. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria.

14. Dispute Resolution

Any disputes shall first be resolved through internal resolution. If unresolved, disputes may be referred to Nigerian courts or regulatory bodies.

15. Changes to Terms

We may update these Terms at any time. Continued use of our services means you accept the updated Terms.

16. Contact Information

Trurate Bureau De Change Ltd