Frequently Asked Questions
Everything you need to know about XchangeBOX — our platform, regulations, investment mechanics, and financing terms.
About XchangeBOX
4 QsXchangeBOX is a trade financing platform that connects Investors with vetted SMEs, agri-traders, agritech platforms, and smallholder farmers ("Traders") who need funding for specific trade transactions. We operate through crowdfunding intermediation licensed by the Securities and Exchange Commission (SEC) of Nigeria.
Yes. XchangeBOX Capital Limited is licensed by the SEC as a crowdfunding intermediary and operates in accordance with the SEC Crowdfunding Rules. Our licence number and registration status are published on our website footer and in-app under Settings > About XchangeBOX.
XchangeBOX earns origination, facilitation, and/or administration fees on financing facilities. These fees are disclosed upfront and do not change the amount a Trader is obligated to repay without prior notice.
The full Terms of Use, Privacy Policy, and Risk Disclosure Statement are available in-app under Settings > Legal, and on our website footer. Traders also sign a Trade Financing Agreement specific to their facility.
For Investors
9 QsCreate an account, complete identity verification (KYC), fund your wallet, and browse available trade financing opportunities. You can review each opportunity's terms, tenor, and expected return before committing funds.
No. Like all investments, your capital is at risk. XchangeBOX applies KYC, credit checks, collateral requirements, and recovery mechanisms to reduce risk, but this does not guarantee repayment. Please read the full Risk Disclosure Statement before investing.
No. Funds invested through XchangeBOX are not bank deposits and are not covered by the Nigeria Deposit Insurance Corporation (NDIC) or any similar deposit insurance scheme.
Investor funds are held in a segregated custodian/trust account administered by an independent Trustee, separate from XchangeBOX's own operating funds, and are only released once a Trader's facility satisfies all disbursement conditions.
The Trustee is an independent party appointed to hold Investor funds and to act on Investors' behalf, including enforcing recovery, such as collateral forfeiture, direct debits, and regulatory reporting, if a Trader defaults.
XchangeBOX and the Trustee will pursue recovery on behalf of Investors using the remedies set out in the Trade Financing Agreement, which can include forfeiture of collateral, direct debit from the Trader's linked accounts, and reporting to credit bureaus and regulators. Recovery is not guaranteed to be full or immediate.
Generally, no. Trade financing investments are illiquid, meaning your funds are committed for the tenor of the facility. Any early exit or transfer option, if available for a specific opportunity, will be clearly stated on that opportunity's page.
Yes. Investment limits are set in line with the thresholds prescribed under the SEC Crowdfunding Rules based on your investor category. The app will show your applicable limit during the investment process.
Your dashboard shows the status of every facility you've invested in, including disbursement, repayment progress, and returns received to date.
For Traders / SMEs
11 QsSMEs, electric vehicle ride hailers, agri-processors, agri-traders, agritech platforms, and smallholder farmers with a verifiable trade transaction can apply. All applicants must pass KYC, business verification, and credit assessment.
Typically: business registration documents, valid ID, BVN/NIN, proof of the trade transaction to be financed, and details of collateral being offered. Specific requirements will be listed in the app during onboarding.
Your facility amount is based on the value of the specific trade transaction (as evidenced by a Trade Confirmation Order), your credit assessment, and the collateral you are able to provide.
A TCO is a document confirming the specific trade transaction your financing is for, including the goods, counterparties, and value involved. Funds are only disbursed against a valid TCO, and must be used strictly for that transaction.
Yes. Every facility is secured by collateral and/or a charge over the financed goods, inventory, or business assets, as set out in your Trade Financing Agreement.
Contact XchangeBOX as early as possible (before your due date) to discuss your situation. Missing a repayment without notice is treated as a default, which can trigger the recovery remedies described below.
Under the Trade Financing Agreement, default can result in: acceleration of the full outstanding balance; forfeiture and sale of your collateral; direct debit of your linked accounts via Mono and CreditChek; re-entry into your business premises to run operations until recovery is complete; and reporting to credit bureaus, regulators, and law enforcement agencies. These remedies are explained in full in your signed Agreement.
For certain facilities, GPS tracking is applied to financed goods, vehicles, or inventory to monitor the trade transaction and reduce the risk of diversion. This is disclosed and consented to as part of your Trade Financing Agreement.
No. Funds must be used strictly for the transaction specified in your TCO. Using funds for any other purpose is a breach of your Agreement and constitutes an Event of Default.
Yes, in most cases. Contact support or check your facility details in-app for any applicable terms on early repayment.
It's an authorization allowing XchangeBOX and the Trustee to debit your linked bank account(s) via Mono or CreditChek to recover any amount you owe, if repayment isn't made as agreed. It remains valid until your facility is fully repaid.
Security, Regulation & Compliance
5 QsYes. XchangeBOX Capital Limited is licensed by the Securities and Exchange Commission of Nigeria as a crowdfunding intermediary, and operates within the investment limits, disclosure, and investor-protection requirements of the SEC Crowdfunding Rules.
We process personal data in accordance with the Nigeria Data Protection Act 2023, apply administrative and technical safeguards to protect your data, and only share it with service providers, the Trustee, or regulators as described in our Privacy Policy.
Mono and CreditChek are licensed third-party platforms XchangeBOX uses for account verification, credit assessment, and direct debit processing. They help us assess Trader creditworthiness and recover funds where necessary.
In the event of default, relevant data may be shared with credit bureaus and, where necessary, with regulatory or law enforcement agencies, as described in our Privacy Policy and your Trade Financing Agreement.
Our licence details are published in-app under Settings > About XchangeBOX and on our website. You can also verify our registration status directly on the SEC Nigeria website or e-portal.
Payments, Fees & Account
4 QsFees vary by product and are disclosed before you commit, including origination/facilitation fees for Traders and any applicable service fees for Investors. Check the specific opportunity or facility page for exact figures.
You can fund your wallet or make repayments via bank transfer, card, or direct debit through the app's Payments section.
Go to Settings > Profile to update your personal details, and Settings > Payment Methods to manage linked accounts. Some changes may require re-verification.
Contact support via the Help section. Note that you cannot close your account while you have an active investment or an outstanding financing facility.
Support & Complaints
3 QsIn-app: Help > Contact Support. By email: support@xchangebox.com. By phone: +234 813 708 3075.
Complaints can be submitted via Help > Contact Support in-app or emailed to compliance@xchangebox.com. If unresolved, complaints relating to our crowdfunding activities may also be referred to the Securities and Exchange Commission of Nigeria.
Contact support immediately via Help > Report an Issue or call our emergency support corridor. Do not share your login details, OTPs, or PINs with anyone, including anyone claiming to be from XchangeBOX.