Terms of Service

By accessing or using NaijaBid ("the Platform"), you agree to be bound by these Terms of Service and all applicable laws and regulations. If you do not agree with any part of these terms, you may not use our services. These terms apply to all visitors, users, buyers, sellers, and any other person who accesses or uses the Platform in any way.

To use NaijaBid, you must: • Be at least 18 years of age • Be a resident of or have a valid Nigerian bank account • Complete our KYC (Know Your Customer) verification process • Not be prohibited from participating in online auctions under applicable law • Provide accurate, current, and complete registration information We reserve the right to refuse service or terminate accounts at our sole discretion.

You are responsible for maintaining the confidentiality of your account credentials. All activity under your account is your responsibility. KYC verification is mandatory for placing bids and listing items. You must provide a valid government-issued Nigerian ID and a clear selfie. Providing false or misleading information is grounds for immediate account suspension and may be reported to relevant authorities.

All bids placed on NaijaBid are binding legal commitments. By placing a bid, you agree to purchase the item at that price if you are the highest bidder at auction close. A non-refundable bidding fee of 2% of your bid amount is charged immediately upon placing any bid. This fee is used for platform maintenance and transaction costs and is NOT refundable under any circumstances, including if you are outbid or if the auction is cancelled. When you are outbid, the original bid amount (excluding the 2% fee) will be automatically returned to your NaijaBid wallet balance. When you place a bid on a live auction, the full bid amount is immediately reserved from your wallet balance. This reserved amount is held in escrow and automatically refunded to your available balance if you are outbid. Failing to complete a purchase after winning may result in account suspension and platform penalties. Winners must complete transaction processing within 48 hours of the auction closing. Failure to do so may result in the forfeiture of the winning bid and account suspension.

Sellers must accurately describe and represent all items listed. Misrepresentation, selling counterfeit goods, or listing prohibited items is strictly forbidden and may result in permanent account termination and legal action. All listings are subject to admin review and approval. NaijaBid reserves the right to reject any listing without explanation. A platform commission is charged on each successful sale. Current commission rates are displayed at the time of listing.

Your NaijaBid wallet stores funds for bidding and proceeds from sales. Funds deposited into your wallet can be used for bidding on any live auction. Withdrawals can only be made to a valid Nigerian bank account that matches your verified KYC name. Withdrawal requests are processed within 24-48 hours. NaijaBid reserves the right to delay or cancel withdrawals if fraudulent activity is suspected or if KYC verification is incomplete.

NaijaBid uses an escrow system to protect both buyers and sellers. Payment from the buyer is held securely until the buyer confirms receipt of the item in the described condition. If a buyer does not confirm receipt within 7 calendar days of the expected delivery date, funds will be automatically released to the seller. All transactions are processed in Nigerian Naira (₦) via Paystack. NaijaBid is not responsible for banking fees or currency conversion charges.

The following are strictly prohibited on NaijaBid: • Counterfeit, pirated, or stolen goods • Weapons, ammunition, and explosives • Illegal drugs or controlled substances • Adult content or services • Living animals • Items infringing intellectual property rights • Manipulating bids (bid shill, auction interference) • Creating multiple accounts to circumvent bans Violations may result in immediate account termination and legal referral.

In the event of a dispute between a buyer and seller, NaijaBid may mediate at its sole discretion. Users must first attempt to resolve disputes directly before contacting support. NaijaBid's decision in all disputes is final. We reserve the right to withhold or release escrow funds based on evidence provided by both parties. NaijaBid is not liable for disputes arising from inaccurate item descriptions, delivery failures by third-party couriers, or fraudulent activity by users.

NaijaBid provides the Platform on an "as is" and "as available" basis. We do not warrant that the service will be uninterrupted, secure, or error-free. To the maximum extent permitted by Nigerian law, NaijaBid shall not be liable for any indirect, incidental, consequential, or punitive damages arising from your use of the Platform. Our total liability to you for any claim shall not exceed the total fees you paid to NaijaBid in the 12 months preceding the claim.

NaijaBid reserves the right to modify these Terms of Service at any time. We will notify users of significant changes via email or a prominent notice on the Platform. Continued use of the Platform after changes are posted constitutes your acceptance of the revised terms. If you do not agree to the changes, you must discontinue use of the Platform.

These Terms are governed by the laws of the Federal Republic of Nigeria. Any disputes shall be subject to the exclusive jurisdiction of the courts of Lagos State, Nigeria. For questions about these Terms, please contact us at legal@naijabid.com.