Terms & Conditions

About GABS Cooperative

GABS Cooperative Society Limited (hereinafter referred to as "GABS Cooperative", "we", "us", or "our") is a duly registered cooperative society under the laws of the Federal Capital Territory, Abuja, Nigeria, with registration number FCTA/ARDS/COOP/2019/2215. Our registered office is located at [INSERT REGISTERED ADDRESS], Abuja, Federal Capital Territory, Nigeria.

GABS Cooperative provides financial services to its members including cooperative savings, credit facilities, and related financial products such as GABS Credit, Suremoney Loan, Car for Cash, GWEL, and Proof of Funds. These services are governed by the rules of the cooperative, applicable Nigerian law, and these Terms & Conditions.

Acceptance of Terms

By accessing or using our website (gabscooperative.com), applying for membership, or using any of our products or services, you confirm that you have read, understood, and agree to be legally bound by these Terms & Conditions, together with our Privacy Policy, which is incorporated herein by reference.

These Terms constitute a legally binding agreement between you and GABS Cooperative. If you are accessing our services on behalf of an organisation or third party, you represent that you have the authority to bind that party to these Terms.

Membership & Eligibility

To become a member of GABS Cooperative and access our financial products and services, you must meet the following eligibility requirements:

• Be a Nigerian citizen or a lawful resident of Nigeria aged 18 years or above;
• Provide valid government-issued identification (National ID, International Passport, or Driver's Licence);
• Provide a valid Bank Verification Number (BVN) and/or National Identification Number (NIN) as required;
• Provide accurate and complete information during registration and throughout the membership period;
• Agree to the cooperative's rules, bye-laws, and these Terms & Conditions;
• Pay the applicable membership fee and/or minimum contribution as notified by GABS Cooperative from time to time.

GABS Cooperative reserves the right to decline membership applications or suspend existing membership where eligibility requirements are not met, or where we have reasonable grounds to believe that information provided is false, inaccurate, or misleading.

Products & Services

GABS Cooperative offers the following products and services to eligible members. The specific terms, conditions, interest rates, and fees applicable to each product are provided separately at the point of application and may be updated from time to time:

GABS Credit

A flexible credit facility available to members who have maintained the required savings threshold or met the applicable qualification criteria. Funds are disbursed subject to a credit assessment and approval process.

Suremoney Loan

A short-to-medium term loan product designed to provide members with quick access to funds for personal or business needs, subject to eligibility criteria and repayment terms communicated at the time of application.

Car for Cash

A secured lending product that allows members to unlock cash value from a qualifying vehicle as collateral, subject to valuation, verification, and the cooperative's asset acceptance policy.

GWEL

A cooperative welfare and emergency loan product available to qualifying members, subject to availability of funds and applicable terms.

Proof of Funds

A financial advisory and documentation service. Terms and fees are communicated separately. This product does not constitute a guarantee or assurance of creditworthiness to any third party.

GABS Cooperative reserves the right to modify, suspend, or discontinue any product or service at any time, with reasonable notice to affected members where practicable.

Loan Obligations

By accepting a loan or credit facility from GABS Cooperative, you agree to the following obligations:

• To repay the full principal amount disbursed, together with all applicable interest, fees, and charges, in accordance with the repayment schedule agreed at the time of disbursement;
• To make repayments on or before the due dates specified in your loan agreement;
• To notify GABS Cooperative promptly if you experience any difficulty that may affect your ability to meet repayment obligations;
• Not to use loan proceeds for any unlawful purpose or for activities prohibited under Nigerian law;
• To provide truthful and accurate information during the loan application process;
• To consent to the verification of your identity, creditworthiness, and any collateral offered, by GABS Cooperative or its authorised agents.

Failure to comply with loan obligations may result in penalties, reporting to credit bureaus, recovery action, or suspension of membership rights.

Fees, Interest & Charges

All applicable interest rates, processing fees, administrative charges, and penalties are disclosed to members prior to or at the point of product application. By proceeding with any product or service, you acknowledge and accept the fee schedule communicated to you.

GABS Cooperative reserves the right to revise its fee schedule. Where changes affect existing loan agreements, members will be notified in accordance with the terms of their individual agreements. All fees are non-refundable unless expressly stated otherwise.

Late repayments may attract penalty charges as specified in the applicable loan agreement. Members are encouraged to contact us promptly if they anticipate any repayment difficulty.

Default & Recovery

A member is in default if they fail to meet any repayment obligation by the agreed due date, or if they breach any material term of their loan agreement. In the event of default, GABS Cooperative may, without limitation:

• Declare the entire outstanding loan balance immediately due and payable;
• Apply any funds held in the member's cooperative savings account toward the outstanding debt;
• Report the default to one or more licensed credit bureaus operating in Nigeria, which may adversely affect the member's credit profile;
• Enforce any security or collateral provided in connection with the loan;
• Pursue legal or debt recovery action through appropriate channels, including engagement of a licensed recovery agent;
• Suspend or terminate the member's membership and access to GABS Cooperative services.

GABS Cooperative will endeavour to contact members before initiating formal recovery proceedings and encourages open communication in cases of financial difficulty.

Intellectual Property

All content on the GABS Cooperative website — including but not limited to the logo, brand name, design, text, graphics, images, and software — is the property of GABS Cooperative or its licensors and is protected by applicable Nigerian and international intellectual property laws.

You may not reproduce, distribute, modify, or create derivative works from any content on this website without the prior written consent of GABS Cooperative. Use of our name, logo, or branding in any manner that could cause confusion or suggest endorsement without our consent is strictly prohibited.

Prohibited Conduct

When using our website or services, you agree not to:

• Provide false, misleading, or fraudulent information at any stage of your membership or loan application;
• Use our services for any unlawful purpose, including money laundering, financing of terrorism, or fraud;
• Attempt to gain unauthorised access to our systems, member data, or restricted areas of our website;
• Harass, threaten, or engage in abusive conduct toward GABS Cooperative staff or fellow members;
• Interfere with or disrupt the integrity or performance of our website or services;
• Impersonate GABS Cooperative, its staff, or any other person in connection with our services.

GABS Cooperative reserves the right to immediately terminate access to services and take appropriate legal action against any person found to have engaged in prohibited conduct.

Limitation of Liability

To the maximum extent permitted by Nigerian law, GABS Cooperative shall not be liable for any indirect, incidental, special, or consequential damages arising from your use of our services or website, including but not limited to loss of income, loss of data, or loss of opportunity.

GABS Cooperative does not guarantee uninterrupted or error-free access to its website or digital services. Scheduled maintenance, technical issues, or circumstances beyond our control may result in temporary unavailability, for which we do not accept liability.

Nothing in these Terms limits GABS Cooperative's liability for fraud, gross negligence, or any liability that cannot be excluded under applicable Nigerian law.

Governing Law & Dispute Resolution

These Terms & Conditions are governed by and construed in accordance with the laws of the Federal Republic of Nigeria, including the Cooperative Societies Law of the Federal Capital Territory, the Federal Competition and Consumer Protection Act (FCCPA) 2018, and other applicable Nigerian legislation.

In the event of any dispute arising from or in connection with these Terms or GABS Cooperative's services, the parties shall first attempt resolution through good-faith negotiation. Where such negotiation fails within thirty (30) days, the matter shall be referred to mediation or arbitration in Abuja, Nigeria, before recourse to the courts.

The Federal Capital Territory courts of Nigeria shall have non-exclusive jurisdiction over any dispute that cannot be resolved through the above process.

Amendments to These Terms

GABS Cooperative reserves the right to amend these Terms & Conditions at any time. Where changes are material, we will provide notice to members via email or a prominent notice on our website at least fourteen (14) days before the changes take effect.

Your continued use of our services after the effective date of any amendment constitutes your acceptance of the revised Terms. We encourage you to review these Terms periodically.

Contact Us

If you have any questions, concerns, or complaints regarding these Terms & Conditions, please contact us through any of the channels below: