Effective Date: 1 January 2025
These General Terms govern the overall operations of Mega Investment Cooperative Society, MIC-EP programs, Business Arm, and the Foundation.
Full Members are registered individuals who have paid all required membership dues and are entitled to governance rights, voting, and full empowerment benefits.
Nominal Members or Dashboard Participants are those using digital platforms for savings or program participation. They are not full Members and have no voting rights or claim to cooperative reserves. Participants may later apply for full membership by meeting all requirements.
The MIC-EP Business Arm provides digital dashboards, wallets, and program management. Participation fees paid for dashboard access are service fees, not contributions to cooperative reserves. Access fees may be used to support platform maintenance, program administration, and representative rewards.
All rewards, cash, or food empowerment programs are part of community support initiatives and are not guaranteed financial returns. Participants acknowledge that rewards are subject to availability and program rules.
The Cooperative and Foundation may receive donations from the Business Arm or external sources to fund empowerment initiatives. Donations do not confer cooperative membership or voting rights.
The Mega Investment Cooperative Society conducts its fundraising programs in collaboration with a Foundation . The Foundation supports the Cooperative by managing fundraising initiatives, mobilizing resources, and distributing empowerment grants in accordance with cooperative policies.
All funds raised through these programs are used solely for participant empowerment, community support, and cooperative-approved initiatives. Participation in fundraising does not confer cooperative membership, voting rights, or entitlement to reserves or dividends.
The fundraising programs operate under transparent and sustainable structures, and all contributions are non-refundable. Participants may qualify for rewards and benefits strictly based on adherence to program rules and successful engagement within the cooperative’s empowerment framework.
Participants wishing to cancel a savings plan must provide at least 28 working days’ notice. A cancellation fee of #4,000 or 25% of the savings amount (whichever is higher) applies for General Programs.
The Cooperative reserves the right to terminate participants for fraudulent activities, policy violations, or abuse of programs. Termination does not entitle participants to any rewards beyond contributions.
By participating, members and dashboard users acknowledge that they have read and agreed to these General Terms. The agreement is legally binding under Nigerian law.
For assistance, contact support via WhatsApp: 09039895021 or email support@megacoopnetwork.org.
