App Store Image  Panaxia

Privacy Policy

Last Updated: June 30, 2026

1. Introduction

Thank you for choosing ProLoan. Panaxia Lending Limited (“we,” “us,” or “our”) has established this Privacy Policy in compliance with applicable data protection laws and app store review requirements, to transparently communicate our approach to user privacy. This document governs the collection, use, storage, disclosure, and protection of your personal information when you access or utilize our mobile application ProLoan and any associated financial lending services.

By downloading, registering, or using ProLoan, you acknowledge that you have read, understood, and agree to be bound by the terms set forth in this Privacy Policy.

We are committed to the principle of data minimization, ensuring that we collect only the information strictly necessary for delivering our lending services and maintaining the security of your account.

2. Definitions

  • Company: Panaxia Lending Limited, a duly registered financial lending enterprise operating in Nigeria.
  • Application (“App”): ProLoan, the official mobile lending application developed and distributed by the Company.
  • User: Any natural person aged 18 years or older who registers an account and utilizes the services provided through ProLoan.
  • Personal Data: Any information, whether directly provided by you or automatically collected through the App, that can be used to identify you as an individual.
  • Sensitive Data: A subset of Personal Data that includes financial records, identification documents, biometric data, and device identifiers that require heightened protection.
  • Service Provider: Third-party entities engaged by the Company to perform specific functions such as data hosting, analytics, or communication delivery, subject to contractual data protection obligations.
  • Third Party: Any entity other than the Company, the User, or our authorized Service Providers.

3. Information We Collect

ProLoan collects only the personal data necessary to provide lending services, verify user identity, assess application risk, protect account security, communicate with users, and comply with applicable legal and regulatory requirements. Each category of data is collected for a specific purpose, within a limited scope, and protected through appropriate security measures.

3.1 Account and Registration Information

Purpose We collect account and registration information to create and manage your ProLoan account, verify your identity, communicate with you about your account, process loan applications, and provide customer support.

Data Collection Scope The information we may collect includes your name, phone number, email address, date of birth, account login credentials, and other information that you actively provide during registration or account use.

We do not collect account information for advertising, marketing profiling, or unrelated third-party use.

Data Security & Retention Account information is encrypted during transmission and stored securely with restricted access. We retain account information for the duration of your account and for any additional period required for legal, regulatory, fraud prevention, dispute resolution, or compliance purposes. After account closure or deletion request, we will delete or anonymize account information that is no longer required.

3.2 Loan Application and Repayment Information

Purpose We collect loan application and repayment information to assess loan eligibility, process applications, disburse approved loans, manage repayment schedules, provide loan-related notices, prevent fraud, and comply with applicable lending, anti-money laundering, and financial regulations.

Data Collection Scope The information we may collect includes loan application details, requested loan amount, repayment status, repayment history, bank or wallet information provided by you, employment or income-related information where required, and other supporting information that you submit as part of the loan process. We do not use loan information for targeted advertising or unrelated marketing profiling.

Data Security & Retention Loan-related information is encrypted during transmission and at rest. Access is limited to authorized personnel and service providers who need the information to provide lending services, conduct risk control, or meet compliance obligations. Loan records may be retained for the period required by applicable laws, regulations, audit requirements, dispute resolution, and fraud prevention obligations.

3.3 Device Information

Purpose We collect limited device information for account security, fraud prevention, risk assessment, service compatibility, and detection of abnormal login or application behavior.

Data Collection Scope The device-related information we may collect includes device model and manufacturer, operating system version, application version, network connection type, Android ID or other app-related device identifiers permitted by the operating system, IP address, device language, timezone settings, login environment parameters, and application operation logs.

We do not collect device serial numbers, SIM card identifiers, phone numbers from the device, or hardware-level identifiers that are not necessary for the stated purposes. We do not use device information for advertising or unrelated user profiling.

Data Security & Retention Device information is encrypted during transmission and stored securely with restricted access. We retain device and security information only for as long as necessary for account security, fraud prevention, service operation, legal compliance, and dispute resolution. After account closure or deletion request, we will delete or anonymize device information that is no longer required.

3.4 Camera-Based Identity Verification

Purpose We use camera access only when you actively choose to capture identity documents or complete facial verification for Know Your Customer (KYC), account security, fraud prevention, and loan application review.

Data Collection Scope We only collect identification images, document images, and facial verification images that you actively capture and submit through the application interface.

We do not activate the camera in the background. We do not record videos unless a clearly disclosed verification flow requires it and you actively participate. We do not access your photo gallery or camera roll through camera access.

Data Security & Retention Captured identity verification data is encrypted during transmission and at rest. Access is restricted to authorized personnel and authorized service providers for identity verification, fraud prevention, compliance review, and dispute handling. Identity verification data may be retained for the period required by applicable laws, financial regulations, KYC obligations, fraud prevention, and dispute resolution. After account closure or deletion request, we will delete or anonymize identity verification data that is no longer required.

3.5 User-Selected Document Upload

Purpose We allow you to upload documents needed for identity verification, loan application review, risk assessment, customer support, or regulatory compliance.

Data Collection Scope ProLoan does not request broad access to your photo library, camera roll, media storage, or external storage. We do not use broad media or external storage permissions to scan your device files.

When you need to submit identity documents, bank statements, qualification certificates, or other supporting materials, you may select specific files through the Android system photo picker or file picker. We only receive the individual files that you actively select and submit.

We do not scan your gallery, access unselected photos, collect metadata from unselected files, or continuously access media stored on your device.

Data Security & Retention Uploaded documents are encrypted during transmission and stored securely. Access is limited to authorized personnel and service providers for identity verification, loan application review, fraud prevention, customer support, and legal compliance. Uploaded documents may be retained where required for KYC, lending compliance, dispute resolution, fraud prevention, or other legal obligations. After account closure or deletion request, we will delete or anonymize documents that are no longer required.

3.6 Approximate Location

Purpose We collect approximate location information to confirm service availability within our supported regions, prevent fraud, detect abnormal access patterns, and protect account security.

Data Collection Scope We only collect coarse, city-level or region-level location information as permitted by your device settings.

We do not collect precise street addresses, continuous background location data, GPS movement trajectories, or real-time location tracking data. ProLoan does not use precise location access for personal loan services.

Data Security & Retention Approximate location information is encrypted during transmission and at rest. It is used only for service eligibility, security, and fraud prevention. We retain location information only for as long as necessary for these purposes, unless longer retention is required for legal, regulatory, fraud prevention, or dispute resolution purposes.

3.7 Emergency Contact Information

Purpose We may ask you to manually provide emergency contact information for account verification, fraud prevention, and lawful loan-related communication where we are unable to reach you through your primary contact method.

Data Collection Scope

We do not automatically upload or store your entire contact list. You maintain full control to select which specific contacts to share. Contact information is only collected when you expressly choose to submit it. By selecting a contact, you confirm you have their consent for us to process this information.

Data Security & Retention Emergency contact information is encrypted during transmission and at rest, and access is limited to authorized personnel for account verification, fraud prevention, and lawful loan-related communication. We do not use emergency contact information for marketing, public disclosure, harassment, or unrelated purposes.

After account closure or deletion request, we will delete or anonymize emergency contact information unless retention is required for legal, regulatory, dispute resolution, or fraud prevention purposes.

3.8 Financial Transaction SMS Information

Purpose With your explicit consent, ProLoan may collect limited information from financial transaction-related SMS messages on your device to support credit evaluation, cash flow assessment, risk modeling, identity verification, fraud prevention, fraud investigation, and dispute resolution.

Data Collection Scope

We only collect SMS messages from your device inbox that are related to financial transactions within the past 130 days. The App uses predefined financial keywords and filtering rules, such as “loan”, “bank”, “payment”, “repayment” and similar financial terms, to identify relevant financial transaction messages.

The information collected from matched financial SMS messages is limited to the sender identifier, relevant content snippet, and timestamp. We do not intentionally collect personal conversations, social messages, travel messages, entertainment messages, promotional messages, or other non-financial SMS content.

Data Security & Retention Financial transaction SMS information is encrypted during transmission and stored securely with restricted access. It may be accessed only by authorized personnel or systems for credit evaluation, risk assessment, fraud prevention, dispute resolution, audit, and legal or regulatory compliance.

We do not sell, rent, trade, or use this information for advertising or unrelated marketing. Records derived from financial transaction SMS messages are retained for up to 120 days, unless longer retention is required by law, regulation, fraud investigation, dispute resolution, audit, or compliance obligations. After the applicable retention period expires, the data will be deleted or anonymized.

You may revoke SMS access at any time through your device settings. Once revoked, ProLoan will stop further SMS collection, but related loan processing or risk assessment features may be affected.

3.9 Limited App Verification

Purpose We may perform limited app verification for account security, fraud prevention, and service compatibility.

Data Collection Scope ProLoan does not collect a full list of applications installed on your device and does not use the QUERY_ALL_PACKAGES permission.

For security, anti-fraud, or service compatibility purposes, the App may perform limited checks related only to ProLoan itself or specific service-related applications that are necessary for a clearly disclosed feature, such as payment, identity verification, or document submission.

We do not collect app usage data, app content, personal files from other apps, or behavioral information from other applications. We do not use app verification for advertising, marketing profiling, or unrelated analytics.

Data Security & Retention Limited app verification data is processed only for account security, fraud prevention, and service compatibility. We retain such data only for as long as necessary for these purposes, unless longer retention is required for legal, regulatory, fraud prevention, audit, or dispute resolution purposes.

3.10 Customer Support and Communication Information

Purpose We collect customer support and communication information to respond to your inquiries, resolve service issues, process complaints, provide loan-related notices, and maintain service quality.

Data Collection Scope The information we may collect includes support messages, complaint details, service request records, communication history, contact information, and files or screenshots that you voluntarily submit to customer support.

We do not use customer support information for unrelated marketing or advertising profiling.

Data Security & Retention Customer support information is encrypted during transmission and stored securely. Access is limited to authorized personnel who need the information to resolve your request, improve service quality, prevent fraud, or comply with legal obligations. Support records may be retained for customer service, audit, dispute resolution, fraud prevention, and regulatory compliance purposes.

4. How We Use Your Information

Panaxia Lending Limited uses the personal data collected through ProLoan exclusively for the following purposes:

  • Service Delivery and Operations: To process loan applications, disburse approved loans, manage repayment schedules, and provide core lending services that you have requested.
  • Risk Control and Fraud Prevention: To verify your identity, assess creditworthiness, detect and prevent fraudulent activities, and maintain the integrity of our lending platform.
  • Customer Support and Communication: To respond to your inquiries, process service requests, send loan-related notifications, and deliver repayment reminders through your designated contact channels.
  • Legal and Regulatory Compliance: To fulfill obligations under applicable Nigerian financial regulations, anti-money laundering (AML) laws, and other legal requirements.

We explicitly declare that we do not use your personal data for targeted advertising, user profiling for marketing purposes, or any purpose unrelated to the delivery of our lending services.

5. Data Sharing and Disclosure

5.1 No Sale of Personal Data

We do not sell, rent, lease, or trade your personal data to any third party under any circumstances. Your information is used solely for the purposes described in this Privacy Policy.

5.2 Authorized Service Providers

We may share limited personal data with trusted Service Providers who assist us in operating our platform, subject to strict contractual data protection obligations. These providers include:

  • Cloud infrastructure and data hosting services
  • Identity verification and KYC service providers
  • Notification and communication delivery services
  • Analytics and fraud detection service providers

We may disclose your personal data when required by law, regulation, court order, or government authority. In such cases, we will limit the disclosure to the minimum information legally required and notify you where permitted by law.

5.4 Business Transfers

In the event of a merger, acquisition, reorganization, or sale of assets, your personal data may be transferred as part of the transaction. We will notify you of any such transfer and ensure the receiving entity maintains equivalent data protection standards.

5.5 Cross-Border Data Transfers

If your data is transferred outside of Nigeria for processing by our Service Providers, we ensure that appropriate safeguards are in place, including standard contractual clauses and encryption protocols, to protect your data in compliance with applicable data protection regulations.

6. Data Storage, Retention and Deletion

6.1 Data Storage

Your personal data is stored on secure servers located in regions that comply with applicable data protection requirements. All data at rest is protected using AES-256 encryption, and all data in transit is secured via HTTPS/TLS 1.2+ protocols.

6.2 Data Retention Periods

We retain personal data only for as long as necessary to provide our services, manage your account, process loan applications, maintain repayment records, prevent fraud, resolve disputes, comply with audit requirements, and meet applicable legal or regulatory obligations.

Different categories of data may be retained for different periods depending on the purpose of collection and applicable legal requirements. After the applicable retention period expires, we will delete or anonymize personal data that is no longer required.

6.3 Data Deletion

You can request deletion of your personal data and close your account by navigating to: Account > Account Closure within the ProLoan application.

You may also request account and data deletion through our web deletion page: https://www.panaxia.co/account-del/#/

When an app account is deleted, we will also delete or anonymize user data associated with that account, except where retention is necessary for security, fraud prevention, dispute resolution, legal compliance, or regulatory obligations.

Upon receiving your deletion request, we will process it within a reasonable period, normally within 7 business days. We will delete or anonymize personal data that is no longer necessary for service delivery, fraud prevention, dispute resolution, audit, legal compliance, or regulatory obligations. Certain loan records, identity verification records, repayment records, and compliance records may be retained where required by applicable law or regulation.

7. Your Rights

As a user of ProLoan, you have the following rights regarding your personal data:

7.1 Permission Revocation Right

You may revoke any permission granted to ProLoan at any time through your device’s system settings. Please note that revoking certain permissions may affect the functionality of specific features within the application.

7.2 Data Deletion Right

You have the right to request the deletion of your personal data at any time by following the in-app deletion path: Account > Account Closure, or through our web deletion page: https://www.panaxia.co/account-del/#/. We will process your request within a reasonable period, normally within 7 business days, subject to applicable legal, regulatory, fraud prevention, audit, and dispute resolution requirements.

7.3 Data Access and Correction Right

You have the right to access and review the personal data we hold about you, and to request corrections to any inaccurate or incomplete information. You may exercise this right by contacting our customer support team.

7.4 Account Cancellation Right

You have the right to close your account at any time through the in-app account closure function. Upon cancellation, all associated data will be handled in accordance with our deletion policies described in Section 6.

7.5 Complaint and Feedback Right

If you have any concerns or complaints regarding our data handling practices, you may contact us through the channels listed in Section 10. We commit to responding to all inquiries within 3 business days.

8. Data Security Measures

Panaxia Lending Limited implements comprehensive security measures to protect your personal data:

  • Transmission Security: All data transmitted between your device and our servers is encrypted using HTTPS/TLS 1.2+ protocols.
  • Storage Security: All data at rest is protected using AES-256 encryption algorithms.
  • Access Control: We enforce the principle of least privilege with role-based access controls, ensuring that only authorized personnel can access personal data.
  • Regular Security Audits: We conduct periodic security audits and penetration testing to identify and remediate potential vulnerabilities.
  • Employee Training: All employees with access to user data undergo mandatory data protection and security awareness training.
  • Incident Response: We maintain a data breach incident response plan to ensure rapid detection, containment, and notification in the unlikely event of a security breach.

9. Children’s Privacy

ProLoan is a financial lending service designed exclusively for individuals aged 18 years and older. We do not knowingly collect, process, or store personal data from individuals under the age of 18. If we discover that we have inadvertently collected data from a minor, we will immediately delete such data from our systems. By using ProLoan, you represent and warrant that you are at least 18 years of age.

10. Policy Updates

We reserve the right to update this Privacy Policy from time to time to reflect changes in our practices, legal requirements, or regulatory obligations. When we make material changes to this policy, we will notify you through:

  • In-app notifications
  • Email to your registered address
  • A prominent notice within the application

Your continued use of ProLoan after any policy update constitutes your acceptance of the revised terms. We encourage you to review this Privacy Policy periodically to stay informed about our data practices.

11. Contact Us

If you have any questions, concerns, or requests regarding this Privacy Policy or our data handling practices, please contact us through any of the following channels:

  • Company Name: Panaxia Lending Limited
  • Email: support@panaxia.co
  • Customer Service Phone: +234 2018879889
  • Address: No.12, Asenuga Street, Opebi, Ikeja, Lagos State, Nigeria

We are committed to addressing your privacy concerns promptly and will respond to all inquiries within 3 business days.

This Privacy Policy is effective immediately upon publication.