Terms and Conditions

Effective Date: 07/09/2025

1. Introduction

Welcome to TELA. These Terms and Conditions (“Terms”) are a legally binding agreement that governs your access to and use of all services, features, technologies, and applications provided by Champ Alpha Services Limited (“TELA”, “we”, “our”, or “us”). By creating an account, downloading our mobile application, using our website, or carrying out any transaction through TELA, you acknowledge that you have read, understood, and agreed to comply with these Terms. If you do not agree with them, you must immediately discontinue use of our services.

TELA is a financial technology platform designed for individuals, freelancers, entrepreneurs, and businesses in Nigeria and beyond. Through our application, we provide users with financial services such as payments, savings, loans, cards, investment options, cross-border transactions, and business intelligence tools. In addition, TELA integrates artificial intelligence technologies that analyze transaction and business data in order to generate insights, detect fraudulent patterns, and improve customer experience.

By using TELA, you are entering into a contractual relationship with us. This relationship is guided by Nigerian laws, international financial regulations where applicable, and best practices in digital banking and data protection. Please read these Terms carefully and review them periodically, as they may be updated from time to time. Your continued use of the service after any update will be deemed acceptance of the revised Terms.

2. Definitions

2.1 “Account”: means the personal or business profile created on the TELA application or platform that enables access to our services.

2.2 “Services”: means all features and financial tools offered by TELA, including payments, loans, savings, investments, cards, and AI-driven insights.

2.3 “User”: refers to any individual, freelancer, or corporate entity that accesses or attempts to access the TELA platform.

2.4 “Transaction”: means any payment, transfer, withdrawal, or financial activity conducted through the platform.

2.5 “KYC”: stands for “Know Your Customer” and refers to identity verification procedures.

2.6 “AML”: stands for “Anti-Money Laundering” regulations.

2.7 “AI Insights”: refers to the predictions, alerts, and reports generated by TELA’s artificial intelligence systems.

2.8 “Regulators”: refers to the Central Bank of Nigeria (CBN), the Economic and Financial Crimes Commission (EFCC), and other authorities relevant to financial activities in Nigeria or abroad.

3. Eligibility and Account Registration

In order to access the full range of TELA’s services, you must be at least eighteen (18) years old and legally capable of entering into binding agreements under Nigerian law. During registration, you will be required to provide accurate and verifiable personal information, which may include your name, phone number, Bank Verification Number (BVN), National Identification Number (NIN), date of birth, and proof of address. Businesses may be required to provide registration documents, tax identification numbers, or other corporate records.

You agree to provide accurate, up-to-date, and truthful information at the time of registration and throughout your use of the services. Providing false or misleading information may result in immediate suspension of your account and could lead to reporting to the appropriate authorities. TELA reserves the right to deny account creation or close accounts where suspicious or inconsistent details are detected.

4. Account Security and Verification

You are solely responsible for safeguarding your account credentials, including your password, PIN, security codes, and any biometric information used for authentication. Any activity carried out under your account will be deemed as activity authorized by you. If you suspect that your account has been compromised, you must notify us immediately at fraud@tela.ng.

TELA uses a tiered verification system that is aligned with Nigerian banking regulations. Users with limited information will have restricted account limits, while users who provide full KYC documentation will enjoy broader access to services such as higher transaction limits, loan eligibility, and international transfers. Attempting to bypass verification measures or using fraudulent documents will result in account suspension and may be reported to the EFCC for further investigation.

5. Services Provided by TELA

TELA provides a wide range of financial services intended to help individuals and businesses manage their money, grow their resources, and operate efficiently. Through the platform, you can send and receive payments, hold and transfer funds, request and repay loans, use debit or virtual cards, and access cross-border payment services. For businesses, TELA offers expense tracking, cash flow dashboards, inventory tools, and AI-powered reports that highlight key trends and risks.

In addition, TELA offers savings and investment products that allow you to set aside funds, lock them for future goals, or earn returns where available. Our loan services are subject to credit assessments, repayment conditions, and interest rates that will be clearly disclosed at the time of application. Loan approvals are not guaranteed and are subject to your creditworthiness and compliance with regulatory requirements.

All services are delivered subject to ongoing improvements and may evolve over time. TELA reserves the right to modify, add, or remove services without prior notice, although we will strive to notify users where significant changes occur.

6. User Responsibilities

By using TELA, you agree to use the platform only for lawful purposes. This means complying with all applicable Nigerian laws and international regulations relating to financial services, including AML and KYC obligations. You agree not to use TELA to fund scams, carry out fraudulent schemes, launder money, or finance terrorism. You may not attempt to bypass security systems, reverse-engineer our technology, or manipulate our promotions in a dishonest manner.

If TELA detects suspicious transactions, such as patterns consistent with fraud or unusual account behavior, we may pause, investigate, and in some cases permanently block the transaction. We also reserve the right to report such activities to the EFCC, the CBN, or any other relevant authority without seeking your prior consent. For instance, if multiple accounts are created by a single individual to exploit referral bonuses, or if large sums are being funneled in a manner inconsistent with your profile, TELA may take swift action to freeze funds and escalate the matter.

You are also responsible for updating your information when changes occur. Outdated or inaccurate details may limit your ability to use our services or expose you to compliance risks.

7. Payment Processing and Disputes

Payments carried out through TELA are processed via banking partners, card networks, and mobile money operators. While TELA strives to ensure speed and accuracy, there may be delays outside our control due to banking network outages, internet disruptions, or third-party system failures. TELA cannot be held liable for losses resulting from such delays, although we will take reasonable steps to assist in resolution.

If you discover an error or unauthorized transaction on your account, you must report it to support@tela.ng within thirty (30) days. Failure to report within this time may limit our ability to investigate. Investigations may require coordination with external providers and may take time. Refunds, chargebacks, or reversals will only be processed after a claim has been fully investigated and validated, and may attract additional fees.

TELA also reserves the right to suspend or reverse any transaction it considers suspicious or inconsistent with the intended use of the platform. Where necessary, such matters will be escalated to the EFCC or regulators.

8. Privacy, Data Use, and Artificial Intelligence

At TELA, your privacy is important to us. By using our services, you consent to the collection, processing, and storage of your personal and business data. This includes information you provide directly—such as your registration details and identity documents—as well as information generated from your activity on the platform, including transactions, payments, and business records.

This data is collected not only to comply with regulatory requirements but also to enable us to deliver high-quality services, monitor for fraudulent activity, and develop innovative products. TELA uses anonymized and aggregated transaction and business data to train and improve its artificial intelligence models. These models help us detect fraud more effectively, generate predictive insights for businesses, and provide you with customized recommendations about your finances.

It is important to emphasize that AI-generated insights are not financial guarantees and should not be mistaken for professional financial advice. For example, our AI may detect that your expenses are trending upward and suggest ways to reduce costs, or it may flag unusual patterns in customer payments that could indicate fraud. While these insights are helpful, you remain solely responsible for any business or financial decisions you make.

TELA does not sell your personal data to third parties. However, we may share data with trusted partners such as banks, payment processors, credit bureaus, and regulators where it is necessary to provide services, enforce legal obligations, or enhance fraud prevention. You may opt out of having your anonymized data used for AI model training by contacting us at support@tela.ng, but opting out may limit your access to some personalized features.

9. Fraud Prevention and Reporting

TELA maintains a zero-tolerance policy for fraud. Protecting the integrity of our platform and the safety of our users’ money is a top priority. To this end, we employ advanced fraud detection systems, artificial intelligence monitoring, and manual reviews to identify and stop high-risk or illegal activities.

If unusual activity is detected—such as sudden large transfers inconsistent with your profile, multiple failed login attempts, or attempts to disguise the source of funds—TELA may immediately suspend your account and freeze transactions while an investigation is conducted. Depending on the outcome, we may decline, reverse, or permanently block the transaction. In serious cases, we will report the matter to the EFCC, CBN, or other relevant regulators.

We also provide a dedicated channel for fraud reporting. If you suspect or become aware of fraudulent or suspicious behavior, either on your account or by another user, you must report it immediately by emailing fraud@tela.ng. All reports are taken seriously, investigated thoroughly, and may result in cooperation with law enforcement.

For example, if a user attempts to use TELA to receive payments for a fraudulent investment scheme, TELA may suspend the user’s account, prevent withdrawals, and forward the case to the EFCC for criminal investigation.

10. Cards and Responsible Use

TELA issues both physical and virtual debit cards linked to your account. These cards are provided for your lawful personal or business use and must not be used for fraudulent purposes, unauthorized online activities, or prohibited transactions such as gambling where illegal, purchase of illegal goods, or money laundering.

You are responsible for keeping your card and card details safe. If your card is lost, stolen, or compromised, you must immediately block it in the app or notify us through customer support. TELA is not responsible for unauthorized transactions carried out before you report the card as compromised.

All card transactions are subject to daily and monthly limits as well as the terms of the issuing card network. TELA reserves the right to decline card transactions that appear suspicious or inconsistent with your usage patterns.

11. Fees and Charges

TELA may charge fees for certain transactions and services. These fees may include, but are not limited to, transfer charges, withdrawal fees, loan processing charges, late repayment penalties, card replacement fees, or international payment fees. All applicable fees will be disclosed within the app or on our website.

Please note that fees are subject to change at any time, with or without prior notice. While we will make reasonable efforts to communicate significant changes, you are responsible for reviewing the app and staying informed of the current fee structure. By continuing to use TELA, you accept any updated fees that may apply.

For example, if a partner bank increases the cost of processing certain transfers, TELA may update its charges accordingly without prior notice. Continued use of the transfer service after such a change means you agree to the new fee.

12. Service Interruptions and Maintenance

TELA strives to provide reliable, always-on services. However, there may be times when services are unavailable due to planned maintenance, system upgrades, or issues beyond our control, such as internet disruptions or outages in banking networks.

In such cases, transactions may fail, be delayed, or be temporarily inaccessible. While we work hard to restore services quickly, TELA is not liable for losses resulting directly or indirectly from downtime, service interruptions, or third-party failures.

We encourage users to plan ahead for critical payments and to have backup methods available in case of service disruptions. TELA will provide reasonable notice of planned maintenance where possible, but emergency disruptions may occur without warning.

13. Intellectual Property

All intellectual property rights associated with TELA—including our mobile app, website, software systems, artificial intelligence models, trademarks, brand name, and visual identity—are owned by TELA Technologies Limited or licensed to us. These rights are protected under copyright, trademark, and intellectual property laws.

By using TELA, you are granted a limited, non-exclusive, and non-transferable license to use our application and services strictly for lawful personal or business purposes. You are not permitted to copy, modify, distribute, sell, or exploit our software, technology, or brand in any unauthorized way. Any attempt to misuse our intellectual property will result in account termination and may lead to legal action.

14. Limitation of Liability

TELA provides its services “as is” and “as available,” without warranties of any kind. While we employ advanced security measures and partner with trusted providers, we cannot guarantee that the platform will always be uninterrupted, error-free, or immune to cyber threats.

TELA will not be liable for losses arising from circumstances outside our control, including internet failures, payment processor errors, unauthorized access caused by your negligence, delays in banking systems, or regulatory actions. Furthermore, AI insights provided by TELA are based on data patterns and predictions, not absolute guarantees. Decisions you make based on AI insights remain your sole responsibility.

Our maximum liability to you, under any circumstances, is limited to the amount of service fees you paid for the specific service in question, or the value of the transaction directly involved. We are not liable for indirect, incidental, or consequential damages, including lost profits or business opportunities.

15. Indemnification

By using TELA, you agree to indemnify and hold harmless TELA, its employees, affiliates, and partners from any claims, damages, liabilities, or expenses arising from your misuse of the platform, your violation of these Terms, or your involvement in unlawful activities.

This means that if you use TELA in a way that causes harm to another person, a financial institution, or a regulator, and they take action against TELA, you will be responsible for covering the costs of defending TELA and for any damages awarded.

16. Dispute Resolution and Governing Law

TELA is committed to resolving disputes fairly. If you have a complaint or concern, you should first contact us through support@tela.ng so we can attempt to resolve the matter informally. If the issue cannot be resolved, any dispute arising out of or relating to these Terms will be resolved through binding arbitration in Nigeria, in accordance with Nigerian arbitration laws.

These Terms are governed by and construed under the laws of the Federal Republic of Nigeria. Any legal proceedings must be brought within Nigerian jurisdiction.

17. Termination of Services

You may close your TELA account at any time by contacting customer support. Closing your account does not erase your responsibilities for pending obligations, such as unpaid loans, fees, or ongoing investigations.

TELA may suspend or permanently terminate your account at its discretion if you violate these Terms, engage in fraud, misuse the services, or pose risks to the platform. In such cases, we may also report your activities to regulators or law enforcement agencies.

18. Escrow Transactions

TELA provides an escrow service designed to build trust between buyers and sellers, freelancers and clients, or other parties who may not know each other personally. By using escrow, funds are securely held in a temporary account until both parties fulfill their obligations under the transaction. This ensures that sellers or service providers are paid once they deliver, while buyers or clients are protected from paying for undelivered goods or services.

When you initiate an escrow transaction on TELA, the buyer deposits the agreed funds into the escrow wallet. These funds remain locked and cannot be withdrawn or transferred by either party until the agreed conditions are met. Once the seller confirms delivery and the buyer confirms satisfaction, the funds are automatically released to the seller’s account. If the buyer fails to confirm receipt within the specified period, TELA may, at its discretion, release the funds based on available evidence of delivery or performance.

In cases of disputes, TELA acts as a neutral intermediary. Both parties may be required to provide supporting evidence, such as delivery receipts, contracts, screenshots, or communication records. Based on this evidence, TELA will make a final determination on whether the funds should be released to the seller, refunded to the buyer, or divided accordingly. Our decision in escrow disputes is binding and final.

You agree that TELA has full authority to hold, delay, or reverse escrow transactions where fraud, misrepresentation, or non-compliance is suspected. TELA may also suspend escrow services for users who repeatedly abuse the system, fail to deliver agreed services, or engage in bad faith practices.

Please note that while escrow reduces risks in online transactions, it does not eliminate them entirely. TELA is not responsible for the quality, legality, or nature of goods and services exchanged. Our responsibility is limited strictly to holding and releasing funds in accordance with the transaction rules and evidence provided.

19. Entire Agreement and Severability

These Terms, together with our Privacy Policy and any other policies published by TELA, constitute the entire agreement between you and TELA regarding the use of our services. If any provision of these Terms is found invalid or unenforceable, the remaining provisions will remain in full force and effect.

TELA may assign or transfer its rights and obligations under these Terms to another company without notice. You may not transfer your rights or obligations without our prior written consent.

20. Contact Information

Support Email: support@tela.ng

Fraud Reporting Email: fraud@tela.ng

Phone Number: (234) 913 3124 223