Effective Date: 1 January 2025
This agreement governs participation in the Mega Investment Cooperative Empowerment Program (MIC-EP), an initiative of Mega Investment Cooperative Society, hereinafter “the Cooperative.”
By registering for MIC-EP, you (“Participant”) agree to the following terms:
MIC-EP is a voluntary, online-based savings and empowerment program. Rewards or benefits received are part of community empowerment initiatives and are not investment returns or guaranteed profits.
Participants using the MIC-EP dashboard are nominal members and are not full Cooperative members. They may access savings plans, track contributions, and receive limited empowerment benefits. Full membership requires separate registration, vetting, and payment of cooperative dues. Voting and governance rights are reserved for full Members.
The Empowerment Fund is intended to support and empower participants upon successful completion of their agreed savings plan. Rewards are not guaranteed and may be adjusted based on availability or operational considerations. By joining, Participants acknowledge that the Cooperative may only refund original contributions under unforeseen circumstances.
Food packs distributed as part of the program are goodwill gifts, not contractual rights. Contents, size, and brands are determined by the Cooperative and may change without notice.
Participants must complete contributions as scheduled. Payment of registration or onboarding fees is required for each savings plan joined. Clearance, processing, or delivery fees may also apply. Failure to complete contributions may result in forfeiture of rewards or empowerment benefits.
Participants wishing to cancel a savings plan must provide at least 28 working days’ notice. A cancellation fee of N7,500 or 25% of the savings amount (whichever is higher) will apply.
The MIC-EP Business Arm provides the digital dashboard, wallet, and program management. The Foundation may support empowerment programs. Both entities may donate to the Cooperative to fund initiatives. Donations do not confer membership or voting rights.
The Cooperative reserves the right to terminate any Participant for policy violations, fraudulent activities, false claims, or abuse of the platform. Termination does not entitle the Participant to any additional rewards beyond contributions made.
By registering, Participants confirm that they have read, understood, and agreed to these terms. The agreement is legally binding under Nigerian law.
Participants applying for loans agree to eligibility requirements, repayment terms, and penalties as outlined in the dashboard. Savings may serve as collateral, and third-party loan arrangements are subject to separate agreements. Submission of loan request is not a guarantee of loan approval. Approval is subject to availability of funds. Non-compliance or fraud may result in suspension or forfeiture of benefits.
For assistance, contact support via WhatsApp: 09039895021 or email support@megacoopnetwork.org.
