(CUSTOMER’S LETTERHEAD)

TO: THE MANAGING DIRECTOR

KEYSTONE BANK LIMITED
1 KEYSTONE BANK CRESCENT
OFF ADEYEMO ALAKIJA STREET
VICTORIA ISLAND
LAGOS STATE

Dear Sir,

INDEMNITY UNDERTAKING TO INDEMNIFY KEYSTONE BANK LIMITED

I/We, _____________________________, hereby execute this Indemnity in favour of

Keystone Bank Ltd.

WHEREAS:

i. I/We,__________________________ whose address is

___________________________________, maintain Account Number(s)
_____________________________________with Keystone Bank Ltd.

ii. The Central Bank of Nigeria (CBN), through its circular

FPR/DIR/GEN/CIR/06/017 and FPR/DIR/GEN/CIR/07/042 has apprised all
banks and financial institutions the mandatory implementation of
Transaction Notification Service, by Short Service Messages (SMS) alert to all
customers for all transactions on their accounts;

iii. I/We have decided to opt out of this mandatory Transaction Notification
Service by SMS, and hereby issue this Indemnity in favour of Keystone Bank
Ltd.

IN CONSIDERATION of Keystone Bank Ltd accepting my/our instruction to opt out

of the SMS alert service, I/We __________________ hereby declare and covenant
as follow:

a. That I/We am/are duly aware of the risks associated with opting out of the
SMS alert service, which is not limited to misstatements, fraud and/or other
manipulations by unauthorized and have implemented all the necessary
steps to secure the above-referenced account(s) with Keystone Bank Ltd;
 b. That I/We hereby authorize Keystone Bank Ltd not to send any transaction
alert notification to me/us henceforth;

c. That I/We shall fully indemnify or hold harmless Keystone Bank Ltd against
all claims, demands, actions, suits, damages, liabilities, losses, settlements,
judgements, costs and expenses (including but not limited to attorney’s
fees and cost), whether or not involving a third party claim, which may arise
out of or relations to Keystone Bank Ltd carrying out my/our instruction
herein;

d. That this indemnity shall cover all legally enforceable general liens and
rights deemed necessary at the sole discretion of Keystone Bank Ltd,
irrespective of whether any part of this Indemnity is enforceable, in part or
whole, including, but not limited to, all of my cash balances or other assets
at the disposal or in the custody of Keystone Bank Ltd, to set off any claim
against Keystone Bank Ltd, pursuant to honoring my/our request to opt of
this transaction alert notification service, by SMS;

e. I/we hereby irrevocably and unconditionally agree that in addition to any

general lien or similar right to which Keystone Bank Ltd as bankers may be
entitled by law, Keystone Bank Ltd may at any time and without notice to
me/us combine or consolidate all or any of my/our accounts with
liabilities/credit balances to Keystone Bank Ltd and set-off or transfer any
sum or sums standing to the credit of any one or more of such account in
or towards satisfaction of my/our liabilities to Keystone Bank Ltd under this
Indemnity or any other respect whether such liabilities be actual or
contingent, primary or collateral and several or joint.

f. This Indemnity is absolute and unconditional and we hereby authorize the

Bank to debit my/our account(s) with the Keystone Bank Ltd without further
recourse to me/us, upon notification by Keystone Bank Ltd to us/me of any
loss, claim, demand, liability, action, damage and proceeding which is
suffered or may be suffered by the Bank as a result of accepting my/our
instruction to opt out of the SMS alert service.

g. That I/We shall be deemed to have been sufficiently notified upon a written
letter of demand to me/us by e-mail or post, by leaving same at my/our
last known address to Keystone Bank Ltd.

This Indemnity shall be my/our obligation in respect of any or related matters

connected to or arising from my/our opting out of the SMS alert service on the
above account(s) with Keystone Bank Ltd, henceforth.
This Indemnity shall be construed in accordance with the laws of the Federal
Republic of Nigeria.
Dated this _____ day of ________________, 20___

SIGNED, SEALED AND DELIVERED by the above-named customer:

__________________________ ________________________
AUTHORIZED SIGNATORY AUTHORIZED SIGNATORY