Privacy Key Commitments:
Seabed Multipurpose Cooperative Society Limited ("Seabed") encrypts member data end-to-end, enforces strict BVN/NIN verification compliance, and never sells or leases member personal data to unauthorized third parties.
1. Introduction & Overview
Seabed Multipurpose Cooperative Society Limited ("Seabed", "we", "us", or "our") respects your privacy and is committed to safeguarding your personal and financial data. This Privacy Notice describes our privacy practices regarding the collection, use, disclosure, storage, and protection of your personal information when you access our website (https://www.seabedcooperative.org), mobile applications, and cooperative financial services.
2. Information We Collect
To provide cooperative membership services, manage your savings accounts, and fulfill regulatory Know Your Customer (KYC) requirements under Nigerian law, we collect:
Personal Data
Full name, date of birth, gender, residential address, phone number, email address.
KYC Identification
National Identification Number (NIN) and Bank Verification Number (BVN).
Financial Records
Bank account numbers, deposit history, savings contributions, and dividend payouts.
3. How We Use Your Information
We use your personal data for legitimate cooperative and operational purposes, including to:
- Process cooperative membership registration and verify member identity.
- Manage savings programs (Apprenticeship, Traders, Education, Hybrid Savings, High Net Worth) and calculate dividend distributions.
- Process wallet deposits, transfers, and payouts securely via licensed payment gateways (such as Flutterwave & PaygatePlus).
- Prevent fraud, money laundering, unauthorized access, and ensure compliance with Anti-Money Laundering (AML) regulations.
- Send account notifications, transaction receipts, and customer support communications.
4. Data Sharing & Payment Processors
We do not sell, rent, or trade your personal information. Data is shared exclusively with licensed financial partners (such as Flutterwave and NIBSS) to process virtual accounts, bank transfers, and card payments under strict confidentiality agreements.
5. Security & Data Rights (NDPA)
We implement 256-bit SSL encryption, multi-factor authentication, transaction PIN protection, and secure cloud server architecture. Under the Nigeria Data Protection Act (NDPA), you have the right to request access, rectification, or erasure of your data by contacting our Data Protection Officer.
6. Contact Information
Seabed Multipurpose Cooperative Society Limited
E.U. Building Kilometer 35 Lekki-Epe Expressway, Lakowe, Lekki, Lagos State, Nigeria
Email: privacy@seabedcooperative.org | seabed@seabedcooperative.org
Phone: +234-903-942-0459 | +234-702-671-1967