BorrowFuel

Legal

Consumer Credit Agreement

This agreement explains the fuel-credit facility you use when you buy fuel with BorrowFuel. It is not a cash loan.

Last updated: 22 September 2026

1. Lender / operator

  • Legal name: New Hampshire Capital Limited
  • Trading as: BorrowFuel
  • CAC registration: RC number to be published
  • Address: Lagos, Nigeria
  • Email: nickoklaus5@gmail.com
  • Telephone: 08072332853

BorrowFuel does not state that it is licensed, authorised, or registered by the Central Bank of Nigeria (CBN), the Federal Competition and Consumer Protection Commission (FCCPC), or any other sector regulator until the relevant approval has actually been obtained. See Licences & Approvals and Regulatory Information.

2. What you are borrowing

We grant a fuel balance you can spend at partner stations. You do not receive cash. Unused grant is not a receivable — if you never fill up, you do not owe that unused amount.

What you owe is: fuel actually dispensed (used principal) + disclosed service charge + any overdue interest accrued after the due date, minus amounts you have repaid.

3. Service charge

A service charge is added when you purchase fuel. It is either a fixed amount per litre or a percentage of the fuel amount, as shown at the time of purchase and in your receipt. It is not overdue interest.

4. Due date

Each facility has a due date based on the tenure shown when credit is granted. You may repay in full or in part at any time before that date without an extra early-settlement fee.

The due date itself is the last day without overdue interest. Overdue interest starts on the first Lagos calendar day strictly after the due date, while any outstanding remains unpaid.

5. Overdue interest

If you do not repay in full by the due date, we may add simple daily overdue interest at the rate disclosed in the app (currently a daily percentage of the original fuel purchase amount). The same naira amount is added each overdue day based on that original purchase — it is not compounded on yesterday’s overdue interest.

No overdue interest is added while the outstanding balance is ₦0. Cumulative overdue interest is capped so it cannot exceed the used fuel principal (unless a lower cap is shown in the app).

6. How repayments are applied

Payments are applied in this order:

  1. Outstanding overdue interest
  2. Outstanding service charge
  3. Outstanding used fuel principal

Any excess stays in your customer wallet and is not treated as a loan credit balance.

7. Default

If you remain unpaid past the due date we may send reminders, restrict further fuel purchases, and take recovery steps permitted by law. A loan may be marked defaulted after a prolonged overdue period. Default does not cancel what you already owe.

8. Your rights

See our Responsible Lending Policy, Complaints Policy, and Refund Policy. You keep any non-excludable rights under Nigerian consumer law.