Regulatory Compliance

Built on Trust,
Backed by Law.

Dagpay operates with full transparency and regulatory compliance. Our platform is designed to meet and exceed Nigerian fintech regulatory requirements.

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CBN Guidelines

Operating under the Central Bank of Nigeria framework for fintech and payment service providers.

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CAC Registered

Dag Global Limited is duly registered with the Corporate Affairs Commission of Nigeria.

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SSL/TLS Encrypted

All data transmission is protected with 256-bit TLS 1.3 encryption — the industry gold standard.

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PCI DSS Compliant

Our payment processing partners maintain PCI DSS Level 1 certification for card data security.

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NDPC Registered

Registered with the Nigeria Data Protection Commission under the Nigeria Data Protection Act 2023.

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AML/CFT Policy

We maintain a robust Anti-Money Laundering and Counter Financing of Terrorism compliance program.

KYC Verification Tiers

Our tiered KYC system balances ease of access with regulatory compliance. Higher verification unlocks higher transaction limits.

1

Tier 1

Basic KYC

Requirements

  • ✓Phone Number Verification
  • ✓BVN Verification

Transaction Limits

  • •Daily Transaction: ₦50,000
  • •Wallet Balance: ₦300,000
  • •Per Transaction: ₦20,000

Available at registration — instant access.

Recommended
2

Tier 2

Standard KYC

Requirements

  • ✓All Tier 1 requirements
  • ✓Government-issued ID (NIN/Passport/Driver's License)
  • ✓Selfie Verification

Transaction Limits

  • •Daily Transaction: ₦500,000
  • •Wallet Balance: ₦1,000,000
  • •Per Transaction: ₦100,000

Upgrade anytime from your dashboard.

3

Tier 3

Enterprise KYC

Requirements

  • ✓All Tier 2 requirements
  • ✓Business Registration (CAC)
  • ✓Utility Bill / Address Proof
  • ✓Board Resolution (for corporate accounts)

Transaction Limits

  • •Daily Transaction: Unlimited
  • •Wallet Balance: Unlimited
  • •Per Transaction: Unlimited

For high-volume resellers and businesses.

Our Policies

Full transparency on how we handle data, money, and security.

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Anti-Money Laundering (AML) Policy

Dagpay maintains a strict Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) policy in accordance with the Money Laundering (Prevention and Prohibition) Act 2022 and the Terrorism (Prevention and Prohibition) Act 2022.

We employ automated transaction monitoring systems that flag suspicious activity in real-time. Our compliance team reviews flagged transactions and reports to the Nigerian Financial Intelligence Unit (NFIU) as required by law.

All customers are screened against international sanctions lists including OFAC, UN, and EU sanctions databases. Politically Exposed Persons (PEPs) are subject to enhanced due diligence.

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Know Your Customer (KYC) Policy

We implement a tiered KYC approach that balances user convenience with regulatory compliance. Higher transaction limits require stronger identity verification.

Identity documents are verified using automated systems integrated with NIMC (National Identity Management Commission) for NIN verification and inter-bank BVN verification via the CBN-approved gateway.

All identity data is stored in encrypted form and is never shared with third parties except where required by law or court order.

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Data Protection Policy

Dagpay is registered with the Nigeria Data Protection Commission (NDPC) and processes personal data in accordance with the Nigeria Data Protection Act 2023 (NDPA 2023).

We collect only the data necessary to provide our services (data minimization principle). Users have the right to access, correct, and request deletion of their personal data.

Our data processing activities are governed by a Data Protection Impact Assessment (DPIA). We employ industry-standard technical and organizational measures to prevent unauthorized access, loss, or disclosure of personal data.

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Security Policy

Dagpay employs a defense-in-depth security strategy. All API communications use TLS 1.3 with certificate pinning. Sensitive data at rest is encrypted using AES-256.

We conduct regular penetration testing and security audits through independent third-party security firms. Our bug bounty program encourages responsible disclosure of security vulnerabilities.

Two-Factor Authentication (2FA) is available and strongly encouraged for all user accounts. Admin access requires hardware security keys (FIDO2).

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Compliance Enquiries

For regulatory enquiries, data requests, law enforcement requests, or compliance-related matters, please contact our dedicated compliance team.

Compliance Email

compliance@dagpay.co

Registered Address

19, Oduduwa Crescent, GRA Ikeja, Lagos

DPO Contact

dpo@dagpay.co

Response SLA

Within 72 hours (business days)

Contact Compliance Team →