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Terms of Service

APPLICATION: MRX EXCHANGE • GOVERNING LAW: FEDERAL REPUBLIC OF NIGERIA • LAST UPDATED: OCTOBER 17, 2026

Please read these Terms of Service carefully before creating an account or transacting on MRX Exchange. By downloading the mobile application or accessing our web services, you acknowledge that you have read, understood, and agreed to be bound by these terms.

1. Acceptance of Terms & Eligibility

By registering an account with MRX Exchange, you certify that:

  • You are an individual of at least eighteen (18) years of age.
  • You have the legal capacity to enter into a binding contract under Nigerian law.
  • You will use the platform exclusively for lawful purposes and in strict compliance with all relevant laws, including the Cybercrimes (Prohibition, Prevention, etc.) Act and Central Bank of Nigeria regulations.

2. Account Security & Transaction PIN

You are responsible for maintaining the confidentiality of your account credentials, login passwords, and 4-digit Transaction Security PIN. Any action conducted through your account using valid authentication credentials will be deemed to have been authorized by you. You must notify us immediately at support@mr-exchange.com if you suspect unauthorized access.

3. Escrow Trading & Payment Rules

MRX Exchange operates as a programmatic escrow marketplace connecting airtime/data sellers and buyers:

  • Escrow Fund Guarantee: When a buyer initiates an order, payment is secured in dedicated escrow accounts. Buyers NEVER pay sellers directly outside the application.
  • Seller Fulfillment Obligation: Sellers must deliver the exact airtime or data amount to the recipient phone number specified in the order within the designated timeout window.
  • Proof of Delivery: Sellers must retain verifiable telecom carrier proof (such as carrier USSD confirmation SMS, carrier balance logs, or carrier API receipts) for every completed trade.
  • Auto-Release Mechanism: Once an order is marked as delivered, the buyer has a grace period to inspect and confirm receipt. If no dispute is raised within the dispute window (typically 2 hours), escrow funds are automatically released to the seller's wallet balance.

4. Dispute Resolution & Arbitration

In the event of non-delivery, inaccurate delivery, or payment discrepancies, either party may trigger an in-app trade dispute:

  • The MRX Arbitration Team will examine telco carrier records, delivery timestamps, and chat transcripts.
  • If carrier logs verify successful delivery to the recipient number, funds are released to the seller.
  • If evidence confirms non-delivery or invalid recipient top-up, funds are refunded to the buyer's wallet.
  • Arbitration decisions by MRX Exchange compliance staff are final and binding.

5. Prohibited Activities

Users are strictly prohibited from:

  • Trading airtime or funds derived from fraudulent schemes, SIM swaps, theft, or unauthorized carrier exploitation.
  • Attempting off-platform transactions, bribery, or circumventing escrow mechanisms.
  • Using multiple accounts to manipulate market pricing or exploit promotional bonuses.
  • Engaging in harassment, abusive language, or fraudulent claims in the trade chat or dispute desk.

Violation of these rules will result in immediate permanent account suspension, forfeiture of fraudulent funds, and reporting to law enforcement authorities (EFCC / Nigeria Police Cybercrime Unit).

6. Wallet Deposits & Bank Withdrawals

Users may fund their wallet via dedicated 9PSB virtual bank accounts provided by BillStack. Withdrawals are processed to verified Nigerian commercial bank accounts matching the verified user profile name. Standard processing fees and statutory stamp duty apply as displayed before transaction authorization.

7. Account Deletion & Termination

You may request permanent termination of your account at any time via the in-app settings or via our web-based Account Deletion Portal. Any remaining unencumbered wallet balance must be withdrawn to your verified bank account prior to deletion.

8. Limitation of Liability

To the maximum extent permitted by applicable law, MRX Exchange shall not be liable for any indirect, incidental, special, or consequential damages resulting from telecommunication carrier network outages, USSD delays by mobile operators (MTN, Airtel, Glo, 9mobile), or banking system downtimes beyond our reasonable control.

9. Governing Law

These Terms of Service are governed by and construed in accordance with the substantive laws of the Federal Republic of Nigeria. Any legal disputes arising shall be subject to the exclusive jurisdiction of the competent courts in Lagos State, Nigeria.

10. Contact Us

For questions regarding these Terms of Service, please reach out via: