Responsible Lending Policy
Last updated: Oct. 15th 2026
Promise lends only what you can afford to repay from your salary, shows every cost before you accept, and never uses harassment or shaming to collect. This policy follows the FCCPC Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations and the CBN consumer protection rules.
1. Our promises to you
| We will | We will never |
|---|---|
| Cap your repayments at 35% of your net salary | Lend you more than your salary can carry |
| Show the full cost before you accept | Add hidden charges or fees you did not agree to |
| Allow only one active loan at a time | Push you into a new loan to repay an old one |
| Let you repay early with no penalty | Charge you for paying off early |
| Remind you politely before and after due dates | Contact your friends, family, colleagues or phone contacts |
| Offer a payment plan if you are struggling | Post your name or photo or threaten you |
2. How we check affordability
- Your employer confirms that you are on staff and gives us your net monthly salary.
- We work out the monthly instalment for the amount and tenor you choose.
- If the instalment is more than 35% of your net salary, we offer a smaller amount or a longer tenor instead.
- Promise staff review every loan before it is paid out.
3. Clear pricing
Before you accept a loan, you see a Key Facts Statement showing:
- the amount you will receive in your wallet, after fees;
- the monthly interest rate (3.5%) and the annual percentage rate (APR);
- the processing fee and credit insurance in naira;
- each instalment, its due date and the total you will repay.
You can cancel within [3] days of disbursement by returning the full amount, paying only interest for the days you held it.
4. Fair collections
- Repayments come through your employer's payroll, so most borrowers never miss a payment.
- If a payment is missed, we contact only you, between 8am and 8pm, Monday to Saturday.
- Our staff and any recovery partner must follow this policy and the FCCPC rules. We are responsible for their conduct.
- We report unpaid loans to licensed credit bureaus only after giving you written notice.
5. If you are struggling
Tell us as soon as you can. Depending on your situation, we can:
- spread your balance over more months;
- pause instalments for a short time after job loss, illness or a family emergency;
- stop late charges while we agree a plan.
Contact info@cadnetwork.org or +234 8032532634 and ask for the hardship team.
6. Credit insurance
Each loan includes credit life insurance with Leadway Assurance. If a borrower dies or becomes permanently disabled, the insurer pays off the outstanding balance, so families are never pursued for the debt.
7. Fraud and impersonation
We verify every borrower through their employer and check that the bank account name matches. If someone tries to take a loan in your name, tap "This wasn't me". We freeze the account at once, investigate, and you will not have to repay a loan you did not take.
8. Oversight
Our management team reviews this policy at least once a year and monitors arrears, complaints and hardship cases every month.