This policy outlines our compliance with laws and regulations regarding the collection, storage, use, sharing, and retention of personal and sensitive information.
'Personal information' refers to any data that identifies you, such as your name, address, phone number, or ID numbers (e.g. NIN, TIN). We require this information to meet legal obligations
and to provide you with services. Without it, we may be unable to fulfill your requests. This policy complies with the Nigeria Data Protection Regulation (NDPR) 2019 and the Nigeria Data Protection Act (NDPA) 2023.
Our Identity
Racos Capitals is a finance company in Nigeria, offering quick and accessible loan services. We adhere to high standards of data protection and privacy to ensure:
Competitive Advantage : Prioritizing customer, vendor, and employee privacy sets us apart from competitors.
Good Corporate Citizenship : Respecting privacy reflects our commitment to being a responsible company.
Business Enablement : Handling large amounts of personal data, privacy is key to fostering lasting business relationships.
Legal Protection : Clear privacy practices help safeguard against claims of improper data use.
Purpose & Objectives
This notice outlines the requirements to ensure Racos Capitals complies with laws related to collecting, storing, using, sharing, and retaining personal and sensitive data. Key objectives include:
Ensuring personal information is secure and protected.
Making employees aware of the legal and contractual implications of privacy breaches.
Limiting data use to the business purposes for which it’s collected.
Implementing regular privacy training and assessments for staff.
Integrating privacy practices into daily operations.
Establishing feedback for continuous improvement of privacy practices.
Ensuring proper handling, usage, and disposal of personal data.
Requiring third-party partners to uphold strong data protection standards.
Adhering to privacy regulations, including cross-border data transfers.
Scope
This notice applies to all Racos Capitals employees, contractors, vendors, interns, customers, and business partners who handle or access personal information collected or processed by Racos Capitals.
It covers data collection across digital platforms such as websites, mobile apps, and third-party sharing for business, analytics, and marketing purposes. The notice outlines how Racos Capitals manages
personal information for lawful business needs, including data shared with or received from authorized third parties.
Agreement to Our Privacy Policy
By accessing our platforms, using our services, or visiting our office for any reason, you agree to this policy and give consent to the use of your data across Racos Capitals' business operations.
What Personal Information We Collect
We collect personal information such as your full name, phone number, gender, identification number, email, date of birth, address, BVN, employment details, income information, next of kin details, and bank details.
Additionally, we may obtain your information from other sources, including credit bureaus, reference agencies, employers, and guarantors.
Why We Process Your Personal Information
We process your personal information to fulfill our contract with you for the products or services requested. This includes:
Handling applications, transactions, and payments
Providing and managing services
Conducting credit assessments and operational tasks
Performing analysis and updating records
Additionally, we process data to meet legal obligations such as preventing crime, verifying identity, and complying with laws and regulations. In some cases, we use your information for legitimate business purposes, such as marketing or seeking legal advice.
Premises Visitors
We collect personal information from visitors to our premises, which may include your full name, company name, phone number, and CCTV recordings.
We process this data to ensure:
Health and safety of visitors, employees, and contractors
Security of people, property, and assets
Crime prevention, detection, and investigation
Compliance with legal and internal policies
Your personal information may be shared with relevant parties such as legal advisers, service providers, and authorities, as required by law or for business operations.
Disclosure of Personal Information
We may share your personal information with Racos Capitals’ officers, employees, agents, and advisers for various purposes, including:
Professional advisers, auditors, third-party service providers, and contractors supporting our business operations
Business partners providing products or services to you
Legal representatives or immediate family in case of death or incapacity
Authorized service providers managing your account
Authorities, courts, regulators, and enforcement agencies as required by law
Debt collection agencies, credit bureaus, insurers, and fraud prevention agencies
Financial institutions for credit and fraud checks
Necessary parties to facilitate service requests and product applications.
Marketing and Monitoring
Your personal information may be transferred or stored outside Nigeria, and we prioritize its security. Racos Capitals implements strong technical and organizational measures, including data encryption, secure access controls, regular security audits, and employee training on data protection. These security practices are updated bi-annually to address emerging threats.
When using external service providers, we ensure they meet our security standards through contractual agreements and regulatory oversight. Regardless of location, we take all reasonable steps to keep your information secure.
Please note that transmitting personal data over the Internet involves risks, such as unauthorized access. We are not liable for breaches that occur during transmission over the Internet.
We retain your personal information only for as long as necessary to meet the purposes outlined in this policy and to comply with legal obligations.
Security and Retention of Personal Information
We may use your personal information for market research, surveys, promotional events, and competitions. Consent for marketing is obtained through opt-in mechanisms during your initial interaction, and you can opt out anytime via the unsubscribe link or by contacting customer service.
We process personal information for marketing as part of our business interest to improve services and generate business. If you opt out, we will respect your preference, retaining a record only to prevent further marketing communications.
Additionally, as permitted by law, we may monitor your electronic communications with us to ensure compliance with legal obligations and internal policies.
Sponsorship And Donations
In considering sponsorship agreements or donations, we may process personal information about individuals or those associated with them in accordance with our legal and regulatory obligations. This includes:
Preventing, detecting, investigating, and prosecuting crime across jurisdictions (including money laundering, terrorism, fraud, and other financial crimes).
Conducting government sanctions screening.
Complying with local and foreign laws, regulations, directives, judgments, court orders, government sanctions, embargoes, reporting requirements related to financial transactions, and requests from any authority, regulator, tribunal, enforcement agency, or exchange body.
Additionally, we may process personal information when it serves our legitimate interests, such as seeking professional advice, engaging in legal proceedings (or potential proceedings), obtaining legal counsel, or establishing, exercising, or defending legal rights.
Your Rights Regarding Personal Information
You may have rights regarding your personal information, including the ability to withdraw consent for processing, request access to your data, correct inaccuracies, object to certain processing methods, restrict how your data is processed, request data in a portable format, and ask for deletion of your personal information when there is no valid reason for its retention. These rights are subject to applicable laws and regulations.
Contacting Us
In the event of a personal information breach, Racos Capitals will report the incident to the Nigeria Data Protection Commission (NDPC) within 72 hours of becoming aware of it. If the breach negatively affects your rights regarding your personal information, we will take reasonable steps to notify you. If you have concerns about how your personal information
is processed by Credit Direct Finance Company Limited or need clarification on this policy, please reach out to us using the contact details below:
