Terms of Service

These Terms of Service and any amendments and restatements hereof (the "Agreement") form a legal agreement covering the provision of services from muno to you, including offering a marketplace to enable (a) conversion of Digital Assets (such term to be broadly understood to include digital currencies such as USDC, USDT, and others supported by a muno wallet) into Nigerian Naira (NGN) via Nigerian bank accounts, and (b) purchase of Digital Assets using Nigerian Naira (NGN) via bank transfer or Boldswitch payment (collectively, the "Services") provided by Boldswitch LTD, having its registered office at Plot 5 Steve Oransanye Street, 4th Avenue, Gwarinpa, Abuja, Nigeria and all of its affiliates (collectively, "muno" or "we" or "us" or the "company") to you as an individual (also referred to as a "user" or "you"). muno and its related Services are owned and operated by Boldswitch LTD. Your use of the Services will be governed by this Agreement, along with our Privacy Policy and Anti-Money Laundering Policy. By signing up to use an account through muno.ng, or any associated websites, APIs, or mobile applications, you agree that you have carefully and thoroughly read, understand, and accept all of the terms and conditions contained in this Agreement. THE VALUE OF DIGITAL ASSETS CAN GO UP OR DOWN AND THERE CAN BE A SUBSTANTIAL RISK THAT YOU LOSE MONEY BUYING, SELLING, HOLDING, OR INVESTING IN DIGITAL ASSETS. YOU SHOULD CAREFULLY CONSIDER WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.

muno is a cryptocurrency exchange platform that facilitates both the selling and buying of Digital Assets (USDC, USDT on the Solana network) against Nigerian Naira (NGN). We collect information that relates to you ("Personal Data") in connection with your use of the Website, our Services, or otherwise in the context of our relationship with you. Sell (Crypto → NGN): Users send supported Digital Assets to muno-generated deposit addresses, which are then automatically converted to NGN at the prevailing exchange rate and credited to the user's linked Nigerian bank account. Buy (NGN → Crypto): Users pay Nigerian Naira via bank transfer to a one-time virtual account or via their linked Boldswitch account, and receive USDC or USDT sent directly to their specified Solana wallet address. muno does not store or custody any Digital Assets beyond the brief period necessary to confirm and process transactions. Digital Assets are always recorded on their respective networks or blockchains. muno reserves the right to refuse to process any transaction if required by law or if we deem the transactions to be against our terms and conditions in this Agreement. You hereby accept and acknowledge that you take full responsibility for all activities that occur under your account and accept all risks of any authorized or unauthorized access to your account, to the maximum extent permitted by law.

1.1. We reserve the right to amend, modify, change or revise this Agreement at any time, in our sole and absolute discretion and without prior notice. Any such changes in respect of your use of the Services will take effect when posted on the muno Website and not retroactively. If you have supplied us with an email address, we may also notify you by email that the Agreement has been revised. If you do not agree to the terms of the revised Agreement, your sole and exclusive remedy is to promptly terminate your use of the Services and close your account. 1.2. It is your responsibility to read the Agreement carefully and periodically review this Agreement as posted on the muno Website. Your continued use of the Services shall signify your acceptance to be bound by the then-current Agreement. 1.3. Failure or delay by muno in enforcing or partially enforcing any provision of the Agreement shall not be construed as a waiver of any of our rights or remedies.

2.1. In order to use the Services, you will need to register an account through our Website. During the registration process, we will ask you for certain information, including but not limited to, your name, address and other personal information to verify your identity. We may, in our sole and absolute discretion, refuse to maintain an account for you. You hereby accept and acknowledge that you: (a) are of legal age in your respective jurisdiction to agree to this Agreement; and (b) have not previously been suspended or removed from using our Services. 2.2. By using your account, you agree and represent that you will use our Services for yourself and you may not use your account to act as an intermediary or broker for any other third party, person or entity. Unless expressly authorized by muno, you are only allowed to have one account and are not allowed to sell, borrow, share or otherwise make available your account or any detail necessary to access your account to people or entities other than yourself. You are solely responsible and liable for maintaining adequate security and control of any and all usernames, email addresses, passwords, two-factor authentication codes or any other codes or credentials that you use to access the Services. 2.3. During the registration of your account, you agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the Services, which may include providing your Bank Verification Number (BVN), National Identification Number (NIN), and other government-issued identification. YOU AUTHORIZE US TO MAKE INQUIRIES, WHETHER DIRECTLY OR THROUGH THIRD PARTIES, THAT WE CONSIDER NECESSARY TO VERIFY YOUR IDENTITY OR PROTECT YOU AND/OR US AGAINST FRAUD OR OTHER FINANCIAL CRIME, AND TO TAKE ACTION WE DEEM NECESSARY BASED ON THE RESULTS OF SUCH INQUIRIES. 2.4. You are solely responsible for creating a strong password and maintaining adequate security and control of any and all IDs, passwords, hints, personal identification numbers (PINs), or any other codes that you use to access our Services. Any loss or compromise of the foregoing information and/or your personal information may result in unauthorized access to your account by third parties. 2.5. To use our Services you may need to fulfill certain legal obligations in your country and/or state of residence. By accepting these terms, you confirm that you have reviewed your local laws and regulations and that you are aware of, and fulfill, any and all such obligations. Due to legal or regulatory prohibitions, we do not offer the use of our Services in certain jurisdictions.

3.1. This Agreement and your use of the Website and Services shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. 3.2. Arbitration. You and muno agree that any dispute arising out of or relating to this Agreement or the Services shall be finally settled in binding arbitration, on an individual basis, in accordance with the Arbitration and Conciliation Act of Nigeria. Subject to applicable jurisdictional requirements, claimants may elect to pursue their claims through the appropriate Nigerian court of competent jurisdiction rather than through arbitration, so long as the matter proceeds only on an individual (non-class or non-representative) basis. CLASS ACTION WAIVER: TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS WILL ONLY BE BROUGHT ON AN INDIVIDUAL BASIS, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND muno ARE EACH WAIVING ANY RIGHT TO PARTICIPATE IN A CLASS ACTION AGAINST muno. 3.3. If any part of this Agreement is held by any arbitrator or court of Nigeria to be invalid or unenforceable in whole or in part, the validity or enforceability of the other sections of these terms and conditions shall not be affected. Any headings contained in this Agreement are for informational purposes only and are not enforceable provisions of this Agreement.

4.1. We endeavor to take all reasonable steps to protect your personal information. However, we cannot guarantee the security of any data you disclose online. You accept the inherent security risks of providing information and dealing online over the Internet and will not hold us responsible for any breach of security unless this is due to our negligence. 4.2. Please view our official privacy statement within the muno app under Settings → Privacy Policy, or visit muno.ng/privacy. 4.3. Your personal data is processed in accordance with the Nigeria Data Protection Act (NDPA) and all applicable Nigerian data protection regulations.

5.1. THE SERVICES ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY GUARANTEES, REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, muno SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. muno DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE WEBSITE, ANY PART OF THE SERVICES, OR ANY OF THE MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE. 5.2. IN NO EVENT SHALL muno, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, ADVISORS, CONSULTANTS OR REPRESENTATIVES, BE LIABLE FOR ANY AMOUNT GREATER THAN THE VALUE OF THE TRANSACTION IN QUESTION, OR FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE. 5.3. We do not own or control the underlying software protocols which govern the operation of Digital Assets. Generally, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying protocols and we are not able to guarantee the functionality or security of network operations. 5.4. muno does not provide investment, tax, or legal advice. All transactions through our Services are conducted between you and muno and you are solely responsible for determining whether any transaction is appropriate for you based on your personal financial objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. 5.5. You agree that we are not liable for any price fluctuations in Digital Assets. In the event of market disruption or a Force Majeure event, we may suspend access to the Services. We will not be liable for any losses suffered by you resulting from such actions.

6.1. If you have a dispute with one or more users of our Services, you release muno, its affiliates and service providers, and each of its or their respective officers, directors, employees, agents and representatives, from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. 6.2. You agree to indemnify and hold muno, its affiliates and each of its or their respective officers, directors, employees, agents and representatives, harmless from any claim or demand (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) arising out of or related to your breach of this Agreement or your violation of any law, rule or regulation, or the rights of any third party.

The Website allows users to (a) sell Digital Assets (USDC, USDT) for Nigerian Naira (NGN) credited to linked Nigerian bank accounts, and (b) buy Digital Assets (USDC, USDT) by paying NGN via bank transfer or Boldswitch. The following general terms apply to each transaction: 7.1. Sell Transactions (Crypto → NGN). When initiating a sell, muno generates a unique deposit wallet address valid for a limited period (typically 60 minutes). You must send the exact amount of the specified Digital Asset to this address within the validity period. Once your deposit is confirmed on the Solana network, muno will convert the received Digital Assets to NGN at the exchange rate displayed at the time of transaction initiation. NGN proceeds will be credited to your linked Nigerian bank account. 7.2. Buy Transactions (NGN → Crypto). When initiating a buy, you specify the NGN amount to spend and your Solana wallet address to receive crypto. muno generates a one-time virtual bank account for bank transfer payments, or you may pay via your linked Boldswitch account. Once payment is received, muno sends USDC or USDT to your specified wallet address. Buy transactions are subject to daily limits. 7.3. Payment Methods for Buy Transactions. Two payment methods are available: (a) Bank Transfer — pay the exact NGN amount to a one-time virtual bank account, and (b) Boldswitch — instant payment from your linked Boldswitch account via OTP confirmation. Boldswitch payment requires a linked Boldswitch account. After 5 incorrect OTP attempts, your Boldswitch account may be suspended. 7.4. Payout. For sell transactions, NGN proceeds will be credited to your linked Nigerian bank account within the timeframe stated at transaction initiation. For buy transactions, Digital Assets will be sent to your specified Solana wallet address. muno is not responsible for delays caused by third-party banking infrastructure or blockchain network congestion. 7.5. Accuracy. You are solely responsible for ensuring you send the correct cryptocurrency to the correct network address (sell) or provide the correct Solana wallet address (buy). Sending unsupported tokens, using unsupported networks, or providing an incorrect wallet address may result in permanent loss of funds for which muno bears no liability. 7.6. Taxes. It is your responsibility to determine what, if any, taxes apply to transactions conducted via the Services, and it is your responsibility to report and remit the correct tax to the appropriate Nigerian tax authority. 7.7. Transfer Limitations. We may, in our sole discretion, impose limitations or restrictions on the size, type, or manner of any proposed transfer transactions. Buy transactions are subject to a minimum of ₦20,000 per transaction and a daily maximum of ₦1,000,000. 7.8. No Cancellations. Once a deposit address has been used and Digital Assets received by muno (sell), or once payment has been sent (buy), the transaction cannot be cancelled or modified. 7.9. Fees. muno charges fees for Services; applicable fees will be displayed prior to you using any Service to which a fee applies. Sell fees are deducted from the NGN payout amount. Buy fees are deducted from the crypto amount sent to your wallet. Our fees are subject to change and muno reserves the right to adjust its pricing and fees at any time.

8.1. Disputing Transactions. If you believe a transaction has not been processed correctly, you should contact muno Support immediately via the in-app support feature or by emailing [email protected]. Please include your transaction ID, the amount sent, and a description of the issue. 8.2. Response. muno Support will investigate and respond to disputes within 5 business days of receiving sufficient information. We may request additional evidence such as proof of transfer, wallet transaction hash, or other documentation. 8.3. Resolution. Disputed transactions will be investigated by muno Support and a decision will be made based upon evidence provided. muno Support resolves disputes by evaluating various factors including but not limited to blockchain transaction records, bank credit confirmations, and any other relevant evidence. 8.4. Appeal. If you believe muno has resolved a dispute incorrectly, you have the right to request an appeal by contacting us within 10 calendar days of the decision, providing additional evidence to support your case. 8.5. Finality. You acknowledge and agree that muno's final decision regarding a dispute is conclusive and binding. muno will have no further liability to you in connection with its decisions once an appeal has been resolved.

9.1. Creating a muno account is free. muno charges fees for Services; applicable fees will be displayed prior to you using any Service to which a fee applies. Our fees are subject to change and muno reserves the right to adjust its pricing and fees at any time. 9.2. Sell Fees (deducted from NGN payout): • Network fee: ₦2,000 (under 500 USD), ₦5,000 (500–999 USD), or ₦10,000 (1,000+ USD) • Service fee: 0.9% of the gross NGN amount (maximum ₦50,000) 9.3. Buy Fees (deducted from crypto sent to your wallet): • Network fee: 2 USDC/USDT (flat) • Service fee: 0.9% of the crypto amount (maximum 100 USDC/USDT) 9.4. Network (gas) fees on the Solana blockchain when sending Digital Assets (sell flow) are the responsibility of the user. These fees are paid to the Solana network validators, not to muno. 9.5. There is no right to a refund or reimbursement of muno's service fee once you have confirmed that you wish to proceed with a transaction.

10.1. We may, in our sole discretion and without cost to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services. 10.2. muno shall not be liable to you or to any third party for any modification, suspension, or discontinuance of Services.

11.1. We may in our sole and absolute discretion, immediately and without prior notice, suspend, restrict, or terminate your access to any or all of the Services, and/or deactivate or cancel your account if: (a) we are so required by applicable Nigerian law, a valid court order, or binding order of a government authority; (b) we reasonably suspect you have or may act in violation of this Agreement; (c) use of your account is subject to any pending litigation, investigation, or government proceeding; (d) our service partners are unable to support your use; (e) you take any action that we deem as circumventing our controls and procedures; or (f) we think it is necessary to do so to protect us, our users, or our employees from danger or loss. 11.2. If we suspend or close your account, we will attempt to provide you with notice of our actions unless a court order or other legal process prohibits us from providing such notice.

12.1. When accessing or using the Services, you agree that you will not: • Use the Services for any unlawful purpose or in violation of any applicable Nigerian or international law or regulation • Use the Services to facilitate money laundering, terrorist financing, or any other financial crime • Provide false, inaccurate, or misleading information during registration or at any time while using the Services • Create multiple accounts to circumvent transaction limits or restrictions • Attempt to gain unauthorized access to any portion of the Services or any other accounts, computer systems, or networks connected to the Services • Use any automated means, including bots, scrapers, or spiders, to access or interact with the Services • Reverse engineer, decompile, or disassemble any software component of the Services • Interfere with or disrupt the integrity or performance of the Services or the data contained therein • Use the Services in any manner that could damage, disable, overburden, or impair our servers or networks • Attempt to manipulate exchange rates or exploit any bugs or vulnerabilities in the Services • Use the Services to engage in transactions involving funds derived from illegal activities 12.2. Violation of these prohibitions may result in immediate account termination and reporting to the relevant Nigerian regulatory and law enforcement authorities.

We reserve the right to modify or replace these Terms at any time. We will provide notice of significant changes through: • Email notification to registered users • In-app notifications • Updates to this page Your continued use of the service after changes constitutes acceptance of the new terms.

For questions about these Terms of Service, please contact us: Company: Boldswitch LTD Email: [email protected] Support: [email protected] Website: muno.ng Address: Plot 5 Steve Oransanye Street, 4th Avenue, Gwarinpa, Abuja, Nigeria We aim to respond to all inquiries within 48 business hours.