EFFECTIVE DATE: March 8, 2024

1. Pelagio App User’s Agreement:

This document contains the terms and conditions provided to govern the relationship between Pelagio Investment Limited (hereafter referred to as “Pelagio”, “Pelagioinvest”, “us”, “we”, or “our”) and users of our services. It is deemed accepted by the user that Pelagio may (at any time) review the contents of this document upon users being notified via email or by log-in to the app. The terms herein stated shall not be amendable or set aside by anybody except where such amendment or waiver is put in writing by an authorised management staff of Pelagio.

2. Consent to Accept Electronic Records and Communications

Account statements, tax information, electronic trade confirmations, educational materials and other user records and communication are provided for in electronic form to the extent that the law permits. Communications and electronic records may be sent to users’ desktop device, mobile phone, email address or at Pelagioinvest’s website – (or maybe posted on one of the secured websites of Pelagio’s service providers for security reasons). It is agreed by the user that he/she consents to receiving electronic communications (which includes records).

It should be noted that users may at any time withdraw consent through an email notifying Pelagio of such withdrawal, the email address for this is Users can unsubscribe to Pelagio’s newsletter or any of Pelagio’s communication channels. If user withdraws such consent (consent to receiving electronic communication), such records and communications (eg. tax documents, proxy materials, etc.) will be provided for in the form of paper upon a request via a telephone call or via the Pelagio email. It is noteworthy to point out that Pelagio reserves the right to continue or discontinue relationship with a user upon withdrawal of consent to receive records and communication electronically.

3. Access to Platform:

3.1 To gain access to use some features available on our platform, users will be required to register by creating an account with Pelagio and download the Pelagio app from Google’s Playstore or Apple’s Appstore.

3.2 Our policies on collection and use of personal data of users are contained in our Privacy Policy Notice (this is located in the settings section on your Pelagio app profile page). Users are required to create a password upon subscription to our services, it should be noted that a code for verification will be sent via phone text message or an email. It is agreed that the users of our services shall comply with the following:

  • Users are at least eighteen (18) years of age (and above) complying with relevant law.
  • Users will desist from using a username (or email address) already in use by another user and will also not carry out such action in relation to the above in such a manner that is offensive or in a manner that infringes on the intellectual property rights of any other person.
  • Users are to provide recent, accurate and valid information about themselves to the extent required by Pelagio in the registration process
  • Users are responsible for the management of all the activities that occur in their account and as such Pelagio is indemnified against any liability that may arise from such management (especially when it relates to username and password)
  • Users are solely in charge of the maintenance, safety and confidentiality of their account’s password and access to their mobile device. Users are responsible for any liability that may result from unauthorised access to their account through their mobile device.

3.3 We reserve the right to suspend or terminate a user’s account if it is discovered that any information given is outdated, inaccurate, false, incomplete or is in violation of the terms herein stated or if it contravenes any law in force. User’s accounts may be suspended or terminated; users may be denied access to the benefits in the accounts without prior notice at our discretion without us taking on any liability.

3.4 This being an agreement between users and Pelagio, the terms, policies, agreement or documents incorporated will continue to govern the relationship between said parties mentioned above and can be terminated by either party. Upon the decision to terminate the use of our services contact us via ( or use the in-app communication avenues. Users will lose the ability to log-in upon termination of use of the platform. Users will be obligated to pay any outstanding fee or commission relating to the use of our platform. Users will also be required to pay any outstanding fee in relation to any other agreement that the user may have entered into with the company or any of its affiliates. We can be contacted via the email ( or through the Pelagio App for issues relating to questions or termination of the use of our platform.

3.5 Pelagio reserves the right to preserve and use the information of any user after the use of our platform has been cancelled or terminated, this will be done in accordance with laws in force and to the extent required to meet business needs. It should be noted that the App does not serve as a replacement but a supplement to users’ accounts. Disclosures and agreements entered by the user in connection to the user’s account with us (including our current and future affiliate) also apply to the Pelagio app and your use of our services.

4. Responsibility for User’s Orders /Trade:

Every user of our services shall be held responsible for the privacy and safety of their log-in credentials (Username/Password) as Pelagio cannot verify the identity of any person making use of a user’s valid log-in detail. We shall not be held liable for whatever may be the outcome of such use, as users bear the responsibility for all transactions entered via a valid log-in detail. Users are to report any unauthorised access to their account, loss or theft of credentials are also to be reported. The valid means of reporting such occurrence is via telephone or any other verified channel Pelagio has dedicated to such a cause (e.g email).

5. Knowledge of Securities, Warrants and Options, Corporate Actions:

It is agreed by the user that he/she is familiar with the terms of any warrants, securities, options or other products in the user’s account, and upcoming corporate actions (eg. tender offers, stock splits, reorganisations etc.). Pelagio is under no obligation to bring to the notice of the user dates of meetings, deadlines, or any other related information. Pelagio is also not required to undertake any action except when the user forwards a written instruction sent via an email to the aforementioned Pelagio email.

6. Order Cancellation/Modification:

It is deemed accepted by the user that modification or cancellation of an order may not be possible after final execution. Any such request to reverse orders will not be honoured. The user is responsible for the executed order regardless of the request to cancel or modify the order.

7. Order Execution:

Orders may be executed by Pelagio through one of its broker dealers or financial partners except when it is otherwise confirmed. We may use an affiliate or another broker to execute orders. Pelagio (or any executing partner) may choose at any time to decline any of its user’s orders or discontinue the use of our services by the user at our discretion. Rules, regulations, laws, policies of relevant markets and clearing houses govern all transactions. ANY ACTION AND/OR DECISION OF ANY REGULATOR, EXCHANGE, MARKET, DEALER OR CLEARING HOUSE IS INDEPENDENT OF PELAGIO AND AS SUCH WE BEAR NO LIABILITY FOR ANY SUCH ACTION.

8. Confirmations:

8.1 It is agreed that users have the duty to monitor orders made until execution or cancellation is confirmed by Pelagio. It is also agreed that confirmation or cancellation of execution may be erroneous or delayed (e.g this may occur as a reason of computer system issues) or may be adjusted or cancelled by an exchange. If execution or cancellation of an order is confirmed in error by Pelagio and there is delay in reporting such error by the user, Pelagio retains the right to remove such trade or the user may be obligated to accept the trade based on the discretion of Pelagio.

8.2 It is agreed that user is duty bound to notify Pelagio at the occurrence of any of the following circumstances listed below through the: Pelagio email (, the telephone (+234-9033370255), in-app chat or whatsaspp platforms.
when it is discovered by user that the confirmation of an execution is not accurate (this also includes when the confirmation or cancellation of an order is inaccurate too).

  • when confirmation of order received by user is different from the order made.
  • when confirmation of an order that was not placed by a user is received by the said user.
  • when an account statement, other information or confirmation containing wrong orders, transaction history, margin status, trades, positions or balances is received by the user. It is agreed by the user that Pelagio reserves the rights to correct any error on the user’s account. It is also agreed that any asset wrongfully distributed to the user shall be promptly returned by the user to Pelagio.

9. Event of Default

9.1 A default on the part of a user is said to occur in the following circumstances:

  • When any agreement with Pelagio is breached or repudiated by a user.
  • When a user fails to provide satisfactory evidence of performance of an obligation after a request of such evidence is made at the discretion of Pelagio.
  • When bankruptcy or insolvency is filed by or against the user.
  • When user’s creditor have been assigned benefits.
  • When a liquidator, receiver, trustee or similar officer has been appointed for user or user’s- property.
  • When any representation made by user is found to be misleading, untrue, or becoming untrue.
  • When user is below the required age (any age below 18 years).

9.2 It is agreed unconditionally by the user that at the occasion of a default, Pelagio reserves the right at discretion to terminate all of its obligation to user without prior notice, Pelagio reserves the right to liquidate part or the entirety of the user’s position in their account through any dealer or market at any time in any manner.

9.3 It is agreed that users shall indemnify Pelagio and (reimburse Pelagio) for all actions (or omissions) and liabilities associated with user’s default, fees (with the inclusion of attorney’s fees but not limited to the aforementioned) and any cost borne by Pelagio in connection to user’s default.

10. Commissions, Fees or Interest Charges:

Users are bound by the commission, fees and subscription for the services that are provided for on the Pelagio App except where there is an agreement reached by an authorised officer of Pelagio. If margin deficiency will be caused by commission or other charges, positions will be liquidated. Upon notification via the Pelagio website or email or through the Pelagio app, changes to fees (including commissions) are effective. To get more information regarding the terms and conditions for withdrawal of funds, depositing of funds and holding period, visit the Pelagio website. It should be noted that a minimum deposit of N2,000 or its equivalent is required to open an account with a minimum account balance of N1,000 at any given time. This amount (N1,000) will not be accessible by the user, as it is permanent account maintenance fee by Pelagio per account.

11. Quotes, Market Information, Research, and Internet Links:

It should be noted that research, quotes, news, and information made available through Pelagio platforms including links to third party websites may be prepared and managed through independent providers. Providers of information, their licensor and Pelagio own the said information and are protected by the law. It is agreed that the users are not to sell, reproduce, distribute, or exploit the information for commercial purposes without a written consent from Pelagio or the provider. Pelagio, by right, can discontinue access to the information. It should be noted that the information is in no way a recommendation to buy or sell any assets as users are solely held liable for any decision made regarding the actions (buying and selling). The accuracy, completeness or timeliness of the information is not guaranteed by Pelagio or providers, users are encouraged to seek advice from financial experts before any investment decision. Dependency on data, quotes or any other information is at the user’s risk. It is agreed by the user that any incidental, consequential, special, or indirect damage that may arise from the information shall be solely borne by him/her as Pelagio or its providers are not liable. Regarding the information, there is no guarantee (express or implied) that it is fit for a particular use and that it is also free from any infringement whatsoever.

12. Licence to use Pelagio Software

Pelagio software and all updates unequivocally remains the property of Pelagio, this includes all copyrights, patents, and trademarks. Users are hereby granted a non-transferable, non-exclusive licence to use Pelagio software as provided. Any action that amounts to copying, decompiling, modifying, translating, adapting, reducing to readable form, reverse engineering or using to create another variation is frowned upon and deemed a contravention to the rights of Pelagio in the said software, an exception to the above occurs when there is a written authorization by an officer of Pelagio. Pelagio is hereby entitled to injunction against anyone who threatens to breach any of the undertaking stated above.

13. Resolving Disputes

13.1.1 It is agreed by the user that at the occurrence of a dispute/complaint relating to services rendered by us, Pelagio must be contacted first before resorting to formal legal proceedings. If a dispute/complaint arises between a user and Pelagio, efforts will be made by Pelagio to settle the dispute/complaint internally, the user is requitred to contact Pelagio using the email . It is agreed by the user and Pelagio that both parties are to negotiate, discuss and consider potential solutions in good faith as soon as possible. It is to be noted that the discussions held in furtherance of resolving disputes shall remain confidential and shall be subject to the rules governing the use of settlement discussions as evidenced in legal proceeding.

13.1.2 At the instance upon which a user, after going through the proper channels set aside for attending to complaints, he/she decides to initiate or assert a legal claim against Pelagio, the user agrees to make known the bases of his/her claim stating the following:

  1. Detailed description of the claim.
  2. Relief sorted against Pelagio concerning the complaint.
  3. Email used to register the account with such complaints with Pelagio.

13.1.3 This is to serve as a prior notice to Pelagio, the above information should be sent to the email address provided in the correspondence of the user with Pelagio.

13.2.0 Alternative Dispute Resolution
13.2.1 It is agreed that any dispute arising between user and Pelagio concerning the services we render or relating to the terms of service or any other complaint that falls under any category of legal theory (like fraud, misrepresentation, tort etc) which may arise during or after the use of service is to be resolved by mandatory final and binding individual arbitration. It should be noted that this TERMS OF AGREEMENT ONLY ALLOW FOR INDIVIDUAL ARBITRATION AS OPPOSED TO CLASS ARBITRATION. USERS HEREBY AGREE TO ONLY BRING AN ACTION ON AN INDIVIDUAL BASES AND SHALL FOR NO REASON BRING A CLASS ACTION AGAINST PELAGIO.

13.2.2 The terms herein contained shall survive the termination of services with Pelagio. The seat and location of arbitration for users’ arbitration hearing shall be Lagos, Nigeria. As regards hearing of arbitration the above stands except otherwise is agreed by parties. The terms contained in this document are governed by the laws of Nigeria.
It is agreed by the user that the following shall be kept confidential:

  • Arbitration.
  • Any information the public does not have knowledge of disclosed during the arbitration.
  • Orders made during the arbitration.
  • Submissions
  • Awards given as a result of the arbitration proceedings and conclusions.

13.2.3 It is agreed by the user that the above shall be kept confidential from the public with the exception to the Lagos Court of Arbitration, the arbitrator, counsel to the parties, witnesses (including expert witness) and other trained professionals (like accountants, insurers, auditors etc) vital to the process of conducting the arbitration.
It is agreed that the arbitration shall be administered by Lagos Court of Arbitration and such arbitration process shall be governed by the Lagos Court of Arbitration Rules. Only one arbitrator is to be appointed with the exception to when parties agree otherwise. The arbitrator can award reliefs except any form of injunction. The outcome/relief granted by an arbitrator regarding the dispute may be given in any court that has jurisdiction over the individual (or his assets) against whom such relief was granted. English is the language to be used in conducting arbitration and the arbitrator must provide in writing his findings and reason for the conclusions upon which the relief was granted.
Seeing that Pelagio may request arbitration against its users, it is agreed by the user that notice sent to the mailing address or email address provided (the email used to open an account with us) is deemed sufficient. It is hereby the obligation of users to ensure that mailing address or email address with us is active and up to date. No judge or jury is required for arbitration and as such the procedure to carry out arbitration is more relaxed than that of the conventional court system.

13.3 Time lapse for ADR
It is agreed that users must file for arbitration against Pelagio within six months (6) of when it is deemed reasonable for the user to take note of the action or omission that gives rise to the claim, the six months period includes the period for attempts to internally resolve the disputes as mentioned in 13.1.1. It should be noted that any claim not made during this period shall make the user in question lose the right to any remedy. If any applicable law in force prohibits 6 months limitation for time lapse of claims not made, any such claims must be asserted within the shortest period provided by such law. Any user who still wishes to proceed to arbitration after the expiration of the time period stated (6 months) shall submit a request to the Lagos Court of Arbitration in accordance with the Lagos Court of Arbitration Rules.

14. Limitation of liability and liquidated damages provision.

It is agreed that the user accepts the system as it carries no warranty (whether express or implied) of merchantability, warranty for being fit for particular use, application or for fitness of purpose. There is also no warranty for the system regarding its freedom from interruption, timeliness, course of performance, course of dealing or trade usage. Pelagio will not be liable under any circumstances for indirect, punitive, special, incidental loss or consequential loss (this also extends to damages, loss of profits, loss of business or loss of goodwill). Users acknowledge that delays or interruptions may occur during the use of the Pelagio system, these delays may include those caused by Pelagio for the sake of servicing the system. Pelagio’s liability regardless of the extent of damage or form of action suffered by the user shall not exceed the total amount paid by the user to Pelagio within the duration of 3 months in commissions prior to any incident.

15. Force Majeure

15.1 It is agreed by the user that Pelagio will not be liable for any event or damages caused by occurrences reasonably believed to be beyond our control. Such events include but are not limited to: civil unrest, act of war, natural disaster, abnormal market conditions, closure or suspension of any market, acts of God, governmental or other regulatory actions (including regulatory action affecting exchanges).

15.2 It is agreed that Pelagio shall not be held liable for any interruption (or delay) of service, transmissions or failure of performance of the Pelagio system notwithstanding if the cause is (but not limited to) software or hardware malfunction, or Pelagio’s internal acts.

15.3 It is agreed by the user that at the instance of the occurrence of any such events as stated previously, Pelagio can increase margin requirements, reduce leverage available, suspend the entirety or part of the terms of service, increase spreads and carry out any other action to protect the interest of Pelagio and its users.

16. Miscellaneous

16.1 The laws of the Federal Republic of Nigeria govern this agreement.
Users agree, seeing that the contents of these terms and conditions are provided for in English, are fully understood. This document contains the agreement between the parties (users and Pelagio) who in no way have made any other representations or warranties. At the instance of when a provision of this document is unenforceable, it shall by no means invalidate other portions of this document. It is agreed by the user that in any instance Pelagio fails to enforce any term or condition such failure will not amount to waiver of such term or condition.

16.2 It is agreed that the user consents to Pelagio’s privacy policy and consents to the collection and/or use of the user’s information. User also consents to recording telephone conversations and keeping track of app communications.

16.3 It is agreed the user consents to Pelagio conducting investigation necessary to carry out business with the user whether personally or through a third party. This investigation includes performing credit checks (including ordering a credit report). It is agreed that upon the breach or default of any obligation provided in this document by the user or upon cross referencing user’s data in a third-party database it is discovered that certain information is found to be false, Pelagio reserves the right to discontinue the relationship with the user. This also covers circumstances whereby any User defaults or breaches any of the obligations in these terms and conditions, relating to verification of information provided for third party databases.