Legal
Last Updated: September 11, 2026
This Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Policy explains how Neiop Pay Limited ("Neiop Pay," "we," "us," or "our") detects, prevents, and reports money laundering, terrorist financing, and related financial crime across the Neioppay Services.
Using Neioppay means you agree to cooperate with our verification, monitoring, and compliance requests. We may decline, delay, or reverse transactions, or restrict accounts, where required by law or our risk policies.
Neiop Pay is committed to maintaining a robust AML/CFT programme proportionate to the products we offer — including payments, multi-currency accounts, cards, and related services. Senior management oversees compliance culture, risk assessment, and escalation of high-risk cases.
Our programme is designed to align with applicable Nigerian AML/CFT requirements and related guidance for payment service providers, including obligations connected to customer identification, ongoing monitoring, suspicious transaction reporting, and sanctions screening where required.
Where we operate or process activity involving other jurisdictions, we also consider relevant international standards and correspondent or partner bank expectations.
Before opening or fully activating an account, and at intervals thereafter, we apply customer due diligence (CDD), which may include:
Collecting and verifying identity information (for example name, date of birth, address, and government ID).
Understanding the nature and purpose of the account or business relationship.
Applying enhanced due diligence for higher-risk customers, products, or geographies.
Re-verifying information when risk indicators change or documents expire.
Business customers may be asked for corporate documents, beneficial ownership details, and evidence of authority to open and operate the account.
We monitor account activity for unusual patterns, volume, velocity, or counterparties that may indicate money laundering, fraud, or other prohibited conduct. Monitoring may be automated, manual, or both, and may lead to additional questions, holds, or account restrictions while we investigate.
Where we have reasonable grounds to suspect money laundering, terrorist financing, or related offences, we may file reports with the appropriate authorities as required by law. We do not tip off customers about such reports or investigations where disclosure is restricted.
Neiop Pay screens customers and, where applicable, transactions against relevant sanctions and prohibited-party lists. You may not use the Services to process funds for sanctioned persons, restricted jurisdictions, or illegal activity. Attempting to evade screening or verification is grounds for immediate suspension or termination.
For broader product rules, see our Terms of Service.
We retain identification, KYC, and transaction records for the periods required under applicable AML/CFT and financial-services rules — often several years after account closure. Retention for compliance may continue even after a customer requests account deletion; see our Delete account page and Privacy Policy.
Questions about this AML Policy or compliance requests can be sent to:
Neiop Pay Limited
Email: support@neioppay.net