Last Updated: 08 December 2025

Welcome to Nigerian Mineral Exchange (“NME”, “we”, “our”, “us”). These Terms & Conditions (“Terms”) govern your access and use of www.nigerianmineralexchange.com and all related services, platforms, products, and applications (collectively, the “Services”).

By accessing or using this website, you agree to be bound by these Terms. If you do not agree, do not use the Services.

1. DEFINITIONS

  • “User”, “You”, “Your” – Any individual or organisation using the Services.

  • “Mineral Exchange Platform” – The digital marketplace owned by NME for listing, buying, selling, or verifying mineral-related commodities.

  • “Verified Vendor” – A seller approved by NME following successful KYC/Compliance verification.

  • “Content” – Any data posted on the platform including listings, descriptions, documents, images, messages, and reports.

2. ELIGIBILITY

To use our Services, you confirm that you:

  1. Are at least 18 years old and legally capable of entering into contracts under Nigerian law;

  2. Are not suspended or banned from the platform;

  3. Will provide accurate, complete, and truthful information during registration or transactions.

3. SCOPE OF SERVICES

NME provides:

  • A digital commodity marketplace for Nigerian minerals (e.g., lithium, gold, tin, columbite, tantalite, gemstone, etc.).

  • Vendor verification and compliance checks (KYC, documentation review).

  • Listing, negotiation, escrow processing (if applicable), and communication tools.

  • Educational and informational resources.

NME is NOT a buyer, seller, broker, agent, or government licensing body.
NME is strictly a digital platform facilitating interactions between parties.

4. USER ACCOUNTS & SECURITY

  • You must create an account to access certain features.

  • You are responsible for maintaining the confidentiality of your login details.

  • You must notify NME immediately of any unauthorised access.

  • NME reserves the right to suspend or terminate accounts for violations.

5. USER OBLIGATIONS

Users agree to:

  • Provide accurate and lawful information only.

  • Comply with Nigerian mineral laws, local mining regulations, and export requirements.

  • Not upload fraudulent documents, deceptive listings, or misinformation.

  • Not engage in money laundering, fraud, or any illegal activity.

  • Not harvest data, hack, reverse-engineer, or disrupt the platform.

6. VENDOR VERIFICATION

Vendors may be required to submit:

  • Government-issued ID

  • Corporate Affairs Commission (CAC) documents

  • Mining license(s), export license(s), or site ownership/lease documents

  • Proof of mineral origin & chain-of-custody documents

  • Bank verification (BVN) and contact details

Verification does not act as a legal guarantee, but only as a platform compliance measure.

7. LISTINGS & TRANSACTION RULES

Vendors are solely responsible for:

  • Accuracy of product descriptions

  • Quality, authenticity, legality, and availability of minerals listed

  • Pricing and transaction terms

  • Deliveries, shipping, sampling, laboratory testing, and fulfillment

Buyers are responsible for conducting due diligence before payment.

NME may—but is not obligated to—review listings for accuracy or compliance.

8. PROHIBITED ACTIVITIES

You agree NOT to use the platform to:

  • Trade stolen, illegal, or unlicensed mineral resources

  • Misrepresent products or ownership

  • Conduct fraudulent financial transactions

  • Upload malware, malicious scripts, or harmful content

  • Engage in defamation, harassment, threats, or unlawful conduct

  • Bypass platform security

  • Impersonate another user or entity

Violations may lead to account termination or legal action.

9. PAYMENTS & FEES

  • NME may charge listing fees, commission, escrow fees, verification fees, or subscription fees, where applicable.

  • All fees are non-refundable unless required by law.

  • Payment disputes between users must be resolved by the parties; NME is not responsible for failed transactions unless explicitly stated under an escrow agreement.

10. ESCROW SERVICES (IF APPLICABLE)

If NME offers escrow:

  • Funds are held until agreed conditions are met (e.g., testing, inspection, documentation).

  • NME is not responsible for disputes arising due to product quality or misrepresentation.

  • Users must comply with escrow guidelines and provide all required documents.

11. INTELLECTUAL PROPERTY

  • All content on the website (logos, designs, text, analytics, trademarks, software) is owned by NME and protected under Nigerian IP laws.

  • You may not copy, distribute, modify, or exploit any content for commercial purposes without written permission.

12. DATA PRIVACY & NDPR COMPLIANCE

NME complies with the Nigeria Data Protection Regulation (NDPR) 2019.

We may collect:

  • Contact details

  • Identification data

  • Business documentation

  • Transaction data

  • Device & usage data

Your information will be used solely for:

  • Verification

  • Security

  • Compliance

  • Customer support

  • Service improvement

We do not sell user data to third parties.

13. THIRD-PARTY SERVICES

The site may include:

  • Payment processors

  • Testing laboratories

  • Logistics partners

  • Communication tools

These entities operate independently.
NME is not responsible for their performance or actions.

14. DISCLAIMER OF WARRANTIES

The platform is provided “as is” and “as available” without warranties of any kind.

NME does NOT guarantee:

  • Accuracy or authenticity of mineral listings

  • The legitimacy or conduct of any user

  • Successful completion of transactions

  • Profitability or investment returns

  • Availability, uptime, or performance of the website

  • Compliance or legality of users’ documentation

Users transact at their own risk and must perform due diligence.

15. LIMITATION OF LIABILITY

To the fullest extent permitted by Nigerian law:

NME shall NOT be liable for:

  • Losses due to fraud by users

  • Incorrect or misleading mineral descriptions

  • Financial loss, business loss, missed opportunities

  • Delays, errors, outages, or platform downtime

  • Actions of third-party partners

  • Loss of data, reputation, or revenue

  • Any indirect, incidental, or consequential damages

NME’s total liability shall not exceed the amount paid by a user for services in the preceding 30 days, if any.

16. INDEMNITY

Users agree to indemnify and hold harmless NME, its directors, employees, and partners against any claims, damages, liabilities, or legal expenses arising from:

  • Misuse of the platform

  • Violations of these Terms

  • Fraudulent or illegal transactions

  • Inaccurate listings or documents

  • Intellectual property infringement

17. TERMINATION

NME may suspend or terminate your account:

  • For breach of these Terms

  • For fraudulent activity

  • If required by law enforcement or regulators

  • If your actions endanger other users or the platform

You may also delete your account at any time.

18. GOVERNING LAW

These Terms are governed by the laws of the Federal Republic of Nigeria, including:

  • Nigerian Contract Law

  • Cybercrimes (Prohibition, Prevention, etc.) Act

  • NDPR (2019)

  • SEC Commodity Trading Guidelines (where applicable)

Disputes shall be resolved in a competent court in Lagos State, Nigeria unless otherwise agreed.

19. AMENDMENT OF TERMS

NME reserves the right to update these Terms at any time.
Continued use of the platform after changes constitutes acceptance.

20. CONTACT INFORMATION

For inquiries:
Nigerian Mineral Exchange (NME)
Email: info@nigerianmineralexchange.com
Website: www.nigerianmineralexchange.com