Terms of Service

Last updated: September 1, 2026

Welcome to WuraFlow. These Terms of Service (“Terms”) govern your access to and use of the WuraFlow mobile application, website, and related services (collectively, the “Platform”). By creating an account or using the Platform, you agree to be bound by these Terms.

1. Nature of the Service

WuraFlow is a gold dealer. We sell gold to you, hold it in safekeeping on your behalf, buy it back from you when you choose to sell, and deliver it to you physically on request. Key points about what WuraFlow is — and is not:

  • Your balance on the Platform is denominated in grams of gold. It records the quantity of gold WuraFlow owes you and holds in safekeeping for you. It is not a naira balance, a deposit, or an account that earns interest.
  • WuraFlow is not a bank and does not accept deposits. We do not hold naira balances for customers: naira changes hands only at the moment you buy gold or receive the proceeds of a sale, settled directly through your bank.
  • WuraFlow does not offer, promise, or project any return, yield, interest, or profit. Buying gold is a purchase of a physical commodity, and its market price can go down as well as up.
  • WuraFlow does not provide financial, tax, or legal advice, and nothing on the Platform is a recommendation to buy or sell gold.
  • You do not hold, receive, or transact in any cryptocurrency or virtual asset by using the Platform. Customer purchases and sales are in naira and gold only.

2. Eligibility

To use WuraFlow, you must:

  • Be at least 18 years of age
  • Be a resident of Nigeria
  • Have a valid Nigerian bank account or phone number
  • Provide accurate and complete registration information
  • Not be barred from using our services under applicable law

3. Account Registration

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. You agree to notify us immediately of any unauthorized use of your account. We reserve the right to suspend or terminate accounts that violate these Terms.

4. KYC and Compliance

WuraFlow complies with Nigerian anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. You agree to provide accurate identification documents and information for know-your-customer (KYC) verification. Failure to complete KYC may result in restricted account functionality, including limits on purchase and sale volumes.

5. Buying Gold

When you buy gold, you pay naira by bank transfer to the settlement account shown at checkout. Once your payment is confirmed, the purchased quantity of gold — measured in grams — is credited to your gold balance. Key terms:

  • The price per gram is displayed before you confirm, and a locked quote is shown at checkout. The displayed price is the price you pay; the service fee is shown as a separate line item.
  • Title to the purchased gold passes to you when your gold balance is credited. From that moment WuraFlow holds the gold in safekeeping for you and owes you its delivery or repurchase in accordance with these Terms.
  • The minimum purchase is ₦10,000 of gold value.
  • All purchases are final once executed, subject to your right to sell back under Section 6.
  • WuraFlow does not hold naira for you — payment settles directly from your bank, and sale proceeds are paid directly to your bank.

6. Selling Gold and Physical Delivery

You may sell any part of your gold balance back to WuraFlow at the prevailing buy-back price displayed at the time of sale. Proceeds, less the disclosed service fee, are paid directly to your linked Nigerian bank account — there is no intermediate balance.

You may also request physical delivery of your gold from 5 grams upward, anywhere in Nigeria, subject to refining, insurance, and delivery fees (deducted from your gold balance in grams) and processing times of 2–7 business days. Physical redemption is a core part of the service: your gram balance is always convertible into metal in your hands.

7. Custody, Reserves and Insurance

WuraFlow maintains reserves of gold and gold-backed instruments held with regulated, insured custodians and vaulting providers, at all times sufficient to meet the aggregate gram balances owed to customers. Reserve composition and treasury management — including how WuraFlow sources, hedges, and safeguards its gold holdings — are conducted by WuraFlow for its own account and may change from time to time. What does not change is our obligation to you: your balance is a claim against WuraFlow for a fixed quantity of gold, deliverable physically or repurchasable for naira under these Terms. Reserves are reconciled against customer balances on an ongoing, automated basis.

8. Fees

WuraFlow charges transparent fees for its services:

  • A service fee on gold purchases and sales, shown as a separate line before you confirm each transaction. A minimum fee applies to small transactions, and reduced rates apply to large ones.
  • Refining, insurance, and delivery fees for physical redemption (based on state, deducted from your gold in grams).

All fees are disclosed before you confirm a transaction. We do not charge hidden fees, account fees, or custody fees — safekeeping of your gold is free. Where applicable, Value Added Tax (VAT) is charged at the statutory rate and shown as a separate line before you confirm.

9. Risks

Buying and holding gold involves risk. In particular:

  • The market price of gold fluctuates with global market conditions and exchange rates. The naira value of your gold balance can fall as well as rise, and past prices are no guide to future prices.
  • Your gold balance is an obligation of WuraFlow Nigeria Limited backed by the reserves described in Section 7. It is not a bank deposit and is not covered by the Nigeria Deposit Insurance Corporation (NDIC) or any government protection scheme.
  • Buying and selling fractional or physical gold is not currently a licensed activity regulated by the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC), and the protections those bodies offer do not apply.

You should consider your own financial circumstances, and seek independent advice if unsure, before buying gold.

10. Prohibited Activities

You agree not to:

  • Use the Platform for any illegal purpose or in violation of Nigerian law
  • Attempt to manipulate gold prices or engage in market abuse
  • Use the Platform for money laundering or terrorist financing
  • Create multiple accounts or provide false information
  • Reverse-engineer, modify, or disrupt the Platform
  • Use automated tools or bots to interact with the Platform

11. Intellectual Property

The WuraFlow name, logo, application, and all related content are the intellectual property of WuraFlow Nigeria Limited. You may not reproduce, distribute, or create derivative works without our express written consent.

12. Limitation of Liability

To the fullest extent permitted by law, WuraFlow shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the Platform. Nothing in these Terms limits our obligation to deliver or repurchase the gold recorded in your balance, or any liability that cannot be excluded under Nigerian law.

13. Termination

We may suspend or terminate your account at any time for violation of these Terms or applicable law. Upon termination, the gold in your balance will be sold back at the prevailing buy-back price and the proceeds paid directly to your linked bank account, less any applicable fees — or, at your request and where eligible, delivered to you physically.

14. Governing Law

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the courts of Lagos, Nigeria.

15. Dispute Resolution

In the event of a dispute, we encourage you to contact us first at support@wuraflow.com. If the dispute cannot be resolved informally, it shall be settled by arbitration in accordance with the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria.

16. Changes to Terms

We may modify these Terms at any time. We will notify you of material changes via email or through the Platform. Continued use of WuraFlow after changes constitutes acceptance of the new Terms.

17. Contact

For questions about these Terms, please contact us at:

Email: legal@wuraflow.com
Phone: +234 800 WURAFLOW
Address: Lagos, Nigeria