Terms of Use

KASDAQ is a peer-to-peer marketplace for consumer electronic devices, new and used, operated by Kasoowa Limited ("Kasoowa", "we", "us", "our"). KASDAQ is a feature of Kasoowa and a trademark of Kasoowa.

Kasoowa Limited is a company registered in the Federal Republic of Nigeria under RC 8713980, with its registered address at 136 NTA Road, Port Harcourt, Rivers State.

These Terms of Use are a binding agreement between you and Kasoowa. They apply the moment you create an account, and they continue to apply for as long as you have one. Our Data Policy forms part of these Terms and explains what we do with your information.

You accept these Terms by ticking the box at registration. If you do not accept them, do not create an account and do not use the service.

In this document, a buyer is a user paying for an item, a seller is a user offering one, a deal is a matched agreement between them, and handover is the in-person moment the item changes hands.

KASDAQ is a venue. We introduce buyers and sellers, display their prices, hold the buyer's payment until the handover is confirmed, and pay the seller afterwards. That is the whole of our role.

Every sale on this platform is a contract between two users. We are not the seller, we are not the buyer, we never take ownership of any item, and we are not a party to the sale. The item, its condition, its history and its legality are the seller's responsibility.

For the avoidance of doubt, and because our interface uses market language:

• We are not a securities exchange or a capital-market operator. Everything listed is a physical consumer device that changes hands in person. Nothing on the platform is a security, a share, a derivative, a commodity contract, a collective investment scheme or any other financial instrument, and no listing is an offer of investment. The bid-and-ask display is a way of showing what buyers will pay and what sellers will accept for goods, nothing more.
• We do not give investment, financial or tax advice. Prices shown are what users have offered. They are not a valuation, a recommendation or a forecast.
• We are not a bank, a deposit-taker, a trustee or an escrow agent. We do not hold funds on trust for anyone, we do not accept deposits, we operate no wallet you can spend from, and we pay no interest. Payment protection works as described in the clause below and is a payment-timing arrangement, not a custody service.
• We are not an insurer. Payment protection is not insurance and does not cover you against a bad bargain, a change of mind, or loss or damage after handover.

To register and use KASDAQ you must:

• be at least 18 years old and legally able to enter a binding contract;
• be resident in Nigeria, and use the service from within Nigeria;
• register in your own name, using accurate and current details;
• hold only one account, unless we have agreed otherwise in writing;
• not be a person previously suspended or banned from the platform, and not be acting on behalf of such a person.

The service is offered only in Nigeria and only in Naira. We do not knowingly permit use from outside Nigeria, and features that depend on location will refuse to operate outside the country.

We do not knowingly allow anyone under 18 to register. If we learn that an account belongs to a minor we will close it, cancel any open deals and return any money we are holding to its source.

You are responsible for everything done through your account. Keep your password private, do not let anyone else use your account, and tell us immediately if you think someone has.

You must keep your details accurate — particularly your phone number, your city and your bank account. We use your city to decide which regional market you trade in, and your bank account is where your sale proceeds are sent. Money sent to a bank account you gave us in error is not something we can recover for you.

You may stop using the service at any time. To have your account closed and your personal data erased, follow the process in our Data Policy. We may need to keep certain records after closure where the law requires it.

To receive money on the platform you must complete identity verification. This means confirming a Nigerian bank account in your own name: you give us your bank and your account number, we ask your bank whose name the account is in, and that name must match the legal name on your account. You also confirm that the account is yours and that you have access to it.

The enquiry is made through our payment partner, Paystack, which is licensed by the Central Bank of Nigeria. It takes a moment and it happens while you are on the page. Nothing else is required of you — no document to upload and no government identifier to enter. See our Data Policy for the detail.

We may require verification before you can trade, may re-run it, and may suspend trading on an account that fails it or that gives details belonging to someone else. Giving another person's identity or bank details is fraud, and we will treat it as such.

Sellers list an item with a price and buyers place an offer. When a buyer's offer meets a seller's price for the same item in the same market, the two are matched automatically and a deal is created. The price is set at the point of matching and neither side can change it afterwards.

A match is an agreement to trade. Once matched:

• the buyer has 15 minutes to pay for the item;
• if the buyer does not pay within that time, the deal is cancelled automatically, the seller's item returns to the market, and the buyer receives a strike;
• once payment is received, the deal is confirmed, a private conversation opens between the two of you, and the buyer is issued a six-character handover code.

You are expected to complete a deal you have entered. Repeatedly matching and abandoning deals, on either side, is grounds for suspension.

When a buyer pays, the money is not sent to the seller. It stays at Paystack, our CBN-licensed payment processor, until the handover is confirmed. That is what we mean by a protected payment: the seller can hand over an item knowing the money exists, and the buyer can hand over money knowing the seller is not paid until the buyer says the item is in their hands.

Payment protection exists only for payments made through KASDAQ. If you pay a seller directly — by bank transfer, cash, or any other means outside the platform — we cannot see it, cannot recover it and cannot help you. Money sent off-platform is gone if the other person does not honour the deal.

Protected funds are not held on trust for either of you and are not a deposit with us. They are payment for a specific deal, held at the payment processor pending the condition being met, and they carry no interest.

If we receive money from you that does not correspond to a deal awaiting payment — for example a transfer for the wrong amount, or one that arrives after the payment window closed — we will record it against your account and return it to the bank account we hold for you. Amounts recorded this way are money awaiting return or application to a deal. They are not a stored balance and cannot be spent on the platform.

Browsing, registering, listing an item and messaging are free. On a completed sale we charge both sides: a commission deducted from the seller's proceeds, and a service fee added to what the buyer pays at checkout (covering payment processing, including charges from our payment processor and the banks).

The commission and service fee rates, minimums and maximums above are the rates in force on the effective date of these Terms. We may change them, and if we do we will publish the new schedule on this page and give at least 14 days' notice before it applies to new sales. A sale is always charged at the rates locked when the deal matched, so a change can never reprice a deal already under way.

All amounts are in Nigerian Naira. We do not support any other currency, and we do not charge or pay interest on any amount at any point.

By listing an item you represent and warrant that:

• you are the rightful owner of the item, or you are authorised by the owner to sell it;
• the item is not stolen, not subject to any outstanding finance, loan or lien, and not reported lost or blocked by any network or manufacturer;
• the item is lawful to sell in Nigeria and does not infringe anyone's rights;
• your description, photographs and specifications show the actual item you are selling, in its current condition, including its faults;
• you will hand over the item you listed — not a substitute, and not a different unit.

You must upload at least two genuine photographs of the actual item. Stock images, images taken from another listing, and images of a different unit are not permitted. Listings must not contain phone numbers, email addresses, social media handles, links, or any other means of contacting you off the platform — in the text or in the images.

Handovers must be arranged at a public meeting point from the list we provide. Private homes and residential addresses are not permitted as meeting points, for the safety of both of you.

Selling stolen goods is a criminal offence. Where we have reasonable grounds to believe an item is stolen, we will suspend the account, preserve the listing, the conversation and the payment records, and cooperate fully with law enforcement, including by providing your identity and verification details on lawful request.

Items on KASDAQ are used goods sold by other individuals. Inspect before you confirm. That is the entire purpose of the handover: you are physically present, with the item in your hands, before the seller is paid.

At handover you should satisfy yourself about the item — that it powers on, that it functions, that the serial or IMEI matches the listing, and that it is the item you agreed to buy. If it is not what was described, do not confirm and do not give the seller your handover code. Raise a dispute instead.

Your six-character handover code releases the payment. Treat it like cash. Read it to the seller only when the item is in your hands and you are satisfied with it. Once the payment is released it is the seller's, and getting it back means a dispute you may not win.

Confirming a handover is your acceptance of the item. After that point, faults you could have found by inspecting it at handover are not something we can reverse, and any manufacturer or retailer warranty is a matter between you and whoever issued it.

A handover is confirmed either by the buyer confirming it in the app, or by the seller entering the six-character code the buyer reads out. Both do the same thing and either is enough.

Once confirmed, we deduct our seller commission, keep the buyer service fee, and send the balance to the seller's verified bank account. Payment is sent within 24 hours of confirmation, and usually far sooner. Arrival depends on the receiving bank, and we cannot control how quickly a bank credits an account.

If a transfer is returned by the receiving bank, the money remains owed to the seller and we will re-send it once the reason is resolved. Sellers should keep their payout bank account open and their name on it matching their verified identity.

You may change your payout bank account at any time in your settings. Because that account is where your money is sent, three conditions apply: you must re-enter your password, the new account must be confirmed by your bank as being in the same name as your verified identity, and payouts pause for 24 hours after the change. Nothing owed to you is lost during that pause — it is sent as soon as the pause lifts.

We will refuse an account that is not in your name. If you believe a refusal is wrong — a married name your bank has not updated, for example — you can ask us to review it, and a member of our team will decide. We will never send your money to an account in someone else's name, however it is explained to us.

If you ever receive an alert that your payout account has changed and it was not you, contact us immediately. The 24-hour pause exists so that there is time to stop the payment.

Each account has an invite code. If a new user registers using your code, and that user later completes a deal on which we earn a commission, you earn a share of our commission on that deal. The share is not a percentage of the sale price, and it is not a payment for the registration itself.

The rate in force is published on the Invite a Friend page and in our Questions & Answers. We may change it for future deals on notice, and we may pause or end the programme at any time. Earnings already accrued are calculated at the rate in force when they were earned, are not restated by a later change, and remain withdrawable if the programme is paused or ended.

• Attribution happens once. A user is credited to the first code applied to their account, and it cannot be changed afterwards. A code can only be applied to a newly registered account.
• Nothing is earned until we earn. No amount becomes payable on a registration, a listing or a match — only on a completed deal with a commission booked against it.
• Self-dealing earns nothing. You earn nothing on a deal to which you are a party, including any deal between you and a user you referred.
• One share per deal per referrer. If you referred both parties to the same deal, you are credited once.
• Earnings follow the account. A suspended, banned or closed account stops accruing, and earnings are not transferable to another person or account.

Referral earnings are paid only to the Nigerian bank account verified in your own name, are subject to a published minimum per withdrawal, and are sent within 24 hours of a withdrawal request. They are an amount we owe you, not a deposit, not a balance you can spend on the platform, and no interest is paid on them.

Creating or controlling more than one account, registering accounts on behalf of other people, inviting accounts you control, or arranging deals whose purpose is to generate referral earnings is a serious breach of these Terms. Where we find it, we may withhold and cancel all affected earnings — including amounts already accrued — reverse any related payment, and suspend or close every account involved.

You are responsible for any tax due on referral earnings. When you share your link you must not misrepresent KASDAQ, promise anyone a return, send unsolicited bulk messages, or advertise using our name in a way that suggests you speak for us.

You must not attempt to take a deal off KASDAQ. That includes asking for or giving a phone number, email address or social handle before a deal is confirmed, asking to be paid directly, offering a discount for paying outside the platform, and cancelling a deal in order to complete it privately.

This is not about our commission. A deal taken off the platform has no payment protection, no record, no handover code and no dispute process — it is the single most common way people are defrauded, and we cannot help someone it happens to.

Attempting to divert a deal is grounds for immediate suspension, and repeated attempts are grounds for a permanent ban.

You must not:

• list an item you do not have, do not own, or do not intend to hand over;
• list anything other than the device categories we support;
• misrepresent an item's condition, model, capacity, age or history;
• place offers you do not intend to pay for, or bid to manipulate a price;
• trade with yourself, or coordinate with another account to create false prices, false volume or false reputation;
• harass, threaten, deceive or abuse another user, or our staff;
• use another person's identity, bank account or payment details;
• attempt to access another user's account, data or conversations;
• scrape, copy or republish our listings, prices or content in bulk, or use automated means to interact with the service;
• interfere with the service, probe it for vulnerabilities, or circumvent any limit, gate or moderation control;
• use the service for money laundering, to move the proceeds of crime, or for any unlawful purpose.

We may remove any listing, cancel any deal and suspend any account we reasonably believe is involved in any of the above, at our discretion and without notice where the risk warrants it.

A private conversation opens between buyer and seller once a payment is secured, so the two of you can arrange the handover. It closes to new messages once the deal ends, and remains readable to both of you afterwards.

Conversations on KASDAQ are not private from us. We monitor them for fraud, for attempts to move deals off the platform, and for abuse, and our support team can read any conversation and can be invited to join one to mediate. By using the messaging feature you consent to this monitoring.

Messages are recorded permanently and are not edited or deleted, by you or by us. That is deliberate: the transcript is the evidence we use to resolve a dispute, and a conversation someone could edit afterwards would be worthless for that. Messages that appear to share contact details or to arrange payment off-platform are delivered as written and flagged for review.

Do not put anything in a message you would not want read by our support team or produced in a dispute — and never send anyone your bank login, a card number, a one-time password or any government identifier. We will never ask you for any of those in a message, and no part of KASDAQ will ever ask you for them anywhere else either.

You keep ownership of the photographs, videos and text you upload. You give us a non-exclusive, royalty-free licence to host, store, reproduce, resize and display that content for the purpose of operating and promoting the marketplace, and to retain it as part of the record of a deal.

You confirm you have the right to grant that licence, and that your content does not infringe anyone's copyright, trademark or privacy.

Listing photographs are screened automatically, including by optical character recognition, to detect contact details and other prohibited content. A listing that fails screening is unpublished and may result in a strike. Automated screening is not perfect, and we may also review content manually.

Either party can raise a dispute on a deal at any point before it settles — for example if the item is not as described, if the other party does not turn up, or if something happens at handover that you are not comfortable with. Once a deal has settled or been refunded, it can no longer be disputed.

When a dispute is raised, the payment stays protected and neither party is paid until it is resolved. You can invite our support team into the conversation, and we will look at the listing, the messages, the photographs and the payment record.

We will then either release the payment to the seller or return it to the buyer. We aim to be fair and to be quick, but we are not a court and we are not an arbitrator: we decide on the evidence in front of us, our decision on where the money goes is final for the purposes of the platform, and it does not affect either party's right to pursue the other through the courts.

Raising dishonest disputes — claiming an item was not received when it was, or that it was faulty when it was not — is grounds for suspension.

We record a strike against an account when a user breaks these Terms — for example failing to pay for a match within the window, or publishing contact details in a listing. Strikes expire 30 days after they are issued.

More than three active strikes in any 30-day period results in suspension. A suspended account cannot trade. You will be told why, and you can appeal from your settings; if we accept the appeal, your strikes are cleared and your account is restored.

We may suspend or permanently close an account immediately, without strikes and without notice, where we reasonably suspect fraud, dealing in stolen goods, identity misuse, money laundering, or conduct that puts another user's safety at risk.

Closing or suspending an account does not affect a deal already paid for: a protected payment will still be settled or returned according to these Terms, and money owed to you will still be paid to your verified bank account.

We work to keep KASDAQ available, but we do not guarantee it will be uninterrupted or error-free. We may suspend part or all of the service for maintenance, to protect users, or in response to a security or fraud incident.

We may add, change, restrict or withdraw features. Where a change materially reduces what you get, we will give reasonable notice unless we must act immediately for legal or security reasons.

The service depends on third parties — our payment processor, our hosting provider, mobile networks and banks. Their failures can interrupt the service and are not within our control.

Items are sold as-is, by other users, and we give no warranty about any of them. We do not inspect items, we do not test them, we do not verify serial numbers or IMEIs, and we do not confirm ownership beyond requiring the seller to certify it. Identity verification confirms who a user is — it does not vouch for what they sell or how they behave.

To the fullest extent the law allows, the service is provided on an 'as is' and 'as available' basis, and we exclude all warranties, conditions and terms that are not expressly set out in this document.

We are not responsible for the conduct of any user, whether online or at a handover. Meeting a stranger to exchange a valuable item carries real risk: use the public meeting points, go during daylight, take someone with you, and never continue with a handover that does not feel right. Nothing about payment protection makes a meeting safe.

We are liable to you for failing to do what these Terms say we will do. We are not liable for the acts of other users, for the items they sell, or for anything that happens outside the platform.

To the fullest extent the law allows, we are not liable for loss of profit, loss of business, loss of opportunity, loss of data, or any indirect or consequential loss, however caused.

Where we are liable, our total liability for all claims relating to a single deal is limited to the value of that deal. Our total liability to you for everything else is limited to the greater of the commission we earned from you in the 12 months before the claim, or ₦50,000.

Nothing in these Terms limits or excludes our liability for fraud or fraudulent misrepresentation, for death or personal injury caused by our negligence, or for anything else that cannot lawfully be limited or excluded — including your rights under the Federal Competition and Consumer Protection Act. If any part of this clause is unenforceable, the rest still applies.

You agree to indemnify us against any claim, loss, fine or cost (including reasonable legal costs) we suffer arising from your breach of these Terms, from your unlawful conduct, from an item you sold, or from a claim by a third party — including a network operator, an insurer or a law-enforcement agency — relating to something you did on the platform.

KASDAQ and Kasoowa, together with our logos, brand marks and the design, text, layout, software and structure of this service, belong to Kasoowa or our licensors. KASDAQ is a trademark of Kasoowa.

You may use the service as it is intended to be used. You may not copy our brand, use our name or marks in a way that suggests endorsement or affiliation, or reproduce, adapt, decompile or create derivative works from our software or content, except to the extent the law permits regardless of this clause.

Device brands and model names shown on the platform belong to their respective owners and are used only to describe the items being sold.

These Terms are governed by the laws of the Federal Republic of Nigeria.

If you have a complaint about us, contact us first at support@kasdaq.io. We will acknowledge it within 5 working days and try to resolve it within 30 days. Most problems are resolved this way and it is faster for both of us than anything else.

If we cannot resolve it, the courts of Rivers State, Nigeria have jurisdiction, and both of us submit to them. This does not remove any right you have to complain to a Nigerian regulator, including the Federal Competition and Consumer Protection Commission or the Nigeria Data Protection Commission.

• Changes. We may update these Terms. If a change materially affects your rights or obligations we will give at least 14 days' notice, in the app or by email, and will ask you to accept the new version. Continuing to use the service after a change takes effect means you accept it.
• Whole agreement. These Terms and the Data Policy are the entire agreement between us about the service, and replace anything said before.
• No waiver. If we do not enforce a term immediately, we do not lose the right to enforce it later.
• Severability. If a court finds any part of these Terms unenforceable, the remainder continues to apply.
• Assignment. You may not transfer your account or your rights under these Terms. We may transfer ours as part of a reorganisation or sale of the business, on notice to you.
• Force majeure. Neither of us is liable for a failure caused by something genuinely outside our control, including network or bank outages, power failure, civil unrest, or government action.
• No third-party rights. Nobody other than you and us can enforce these Terms.

Kasoowa Limited, 136 NTA Road, Port Harcourt, Rivers State.