SMSabi Market
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Privacy Policy

Last updated: April 2026

1. Who we are

Sabi Market ("we," "us," "our") operates a naira-denominated event contract forecasting exchange accessible at sabimarket.ng and via our mobile applications. We are a Nigerian limited company committed to protecting your personal data in compliance with the Nigeria Data Protection Regulation (NDPR) and the Nigeria Data Protection Act (NDPA) 2023.

2. Data we collect

Account data:

  • Phone number (for account creation and OTP verification)
  • Email address (optional, for notifications)
  • Display name / handle
  • Language preference

KYC verification data (Tier 1+):

  • Bank Verification Number (BVN) — stored as a one-way hash, never in plain text
  • National Identification Number (NIN) — stored as a one-way hash
  • Government-issued ID document image
  • Selfie for liveness verification
  • Date of birth, full legal name

Trading and financial data:

  • Transaction history (deposits, withdrawals, trades)
  • Wallet balances and positions
  • Bank account details for withdrawals

Technical data:

  • IP address and approximate geolocation
  • Device type, operating system, browser
  • Session and cookie identifiers

3. How we use your data

  • To create and manage your account
  • To process trades, deposits, and withdrawals
  • To verify your identity (KYC/AML compliance)
  • To prevent fraud, money laundering, and market manipulation
  • To send you transaction confirmations and market resolution notifications
  • To comply with Nigerian law, including NFIU reporting obligations
  • To improve our platform and resolve technical issues

4. Data sharing

We share personal data only with:

  • Payment providers (Paystack, Monnify) — to process naira transactions
  • KYC verification providers (Smile Identity) — to verify your identity
  • Regulators and law enforcement — when required by Nigerian law (SEC, CBN, NFIU, EFCC)

We never sell your personal data to third parties.

5. Data storage and security

  • All data is stored on servers in Africa (AWS Cape Town af-south-1)
  • BVN and NIN are stored as irreversible cryptographic hashes
  • Passwords are hashed using argon2id
  • All connections are encrypted with TLS 1.3
  • Financial records are retained for 7 years as required by SEC Nigeria

6. Your rights

Under the NDPR/NDPA, you have the right to:

  • Access a copy of your personal data
  • Correct inaccurate data
  • Request deletion of your data (subject to legal retention requirements)
  • Withdraw consent for optional data processing
  • Lodge a complaint with the Nigeria Data Protection Commission (NDPC)

To exercise these rights, email [email protected].

7. Cookies

We use essential cookies to maintain your session and language preference. We do not use advertising or tracking cookies. Our service worker caches app assets for offline use.

8. Children

Sabi Market is not available to anyone under 18 years of age. We do not knowingly collect data from minors. If we learn we have collected data from a user under 18, we will delete it immediately.

9. Contact

Data Protection Officer
Sabi Market Limited
Email: [email protected]