WHEREAS:

1. The Bank offers normal banking services to the Indemnitor, including electronic banking services via its Mobile app and Internet Banking Platforms, wherein Customers signed up on the Bank’s mobile app are permitted to carry out daily transactions limit set by the bank.
2. The Indemnitor has decided and subsequently requested that the Bank should increase his/her daily limit on its Mobile app.
3. In line with the directive of the Central Bank of Nigeria (CBN) in its Circular with Reference No. PSM/DIR/PUB/CIR/01/006 dated 26th May, 2022, the Bank has requested for an indemnity as a condition for granting the Indemnitor’s request owing to the inherent risk in making bigger sum payments on the mobile app or any other similar payment platform recognized by the CBN and the Indemnitor has agreed to execute this Indemnity in favour of the Bank to fully indemnify the Bank against any liability, loss, costs or damages that may be incurred or suffered by the Bank as a result of granting the Indemnitor’s request.
4. NOW IN CONSIDERATION of the above, the Indemnitor hereby undertakes to adequately indemnify and keep the Bank fully indemnified against all damages, injuries, losses, costs and expenses whatsoever which may be incurred, suffered or sustained by the Bank as well Classified as Internal use only as against all actions, proceedings or claims which may be brought against the Bank in consequence of the Bank granting the Indemnitor’s request to increase its daily transaction limit on its mobile app and internet banking platforms.
5. This Indemnity shall be a continuing and binding obligation on the Indemnitor until the Bank shall have effectively discharged the Indemnitor from any claims, costs, expenses or liabilities in respect thereof.
6. This indemnity shall be construed in accordance with the Laws of the Federal Republic of Nigeria.

7. The Indemnitor has digitally executed these presents and hereby consents to fully indemnify the Bank as stated herein.