Terms & conditions

These Terms and Conditions govern the rights, obligations, and responsibilities of Members, the Society, and any authorised third-party service providers.
This Article shall apply to all cooperative services, including savings, credit, investment, shareholding, project participation, and use of the Society’s digital platforms (monivest.ng, mobile applications, APIs).
In case of conflict between these Terms and any other provision of the Byelaw, the provision granting higher protection to the Society and its Members shall prevail, provided such protection is consistent with applicable law.

Membership is open to individuals and corporate entities meeting the admission criteria in this Byelaw.
All Members must undergo a mandatory Know Your Customer (KYC) and Anti-Money Laundering/Counter-Terrorist Financing (AML/CFT) compliance process.
The Society reserves the right to reject, suspend, or terminate membership where due diligence reveals adverse findings.

The Society shall process personal and financial data in compliance with the Nigeria Data Protection Regulation (NDPR) and any applicable international data privacy laws.
Members authorise the Society to use their data strictly for cooperative purposes, regulatory compliance, credit scoring, and product development.
Data shall not be sold or disclosed to unauthorised parties, except where required by law, regulatory agencies, or pursuant to a valid court order.

All deposits, loans, investments, and withdrawals are subject to the Society’s financial policies, liquidity management rules, and statutory reserves.
Members acknowledge that investments in cooperative projects may carry inherent risks due to market volatility, agricultural yield variations, currency fluctuations, and force majeure events.
The Society shall maintain a Risk Management Framework to mitigate exposure, but shall not guarantee returns unless expressly stated in a contractual investment agreement approved by the Management Committee.
Losses caused by Member negligence, fraud, or breach of these Terms shall be borne solely by the Member.

Members shall use the Society’s Platform only for lawful cooperative purposes and shall not attempt to bypass authentication, reverse-engineer software, or introduce malicious code.
The Society shall implement security measures including encryption, two-factor authentication, and intrusion detection systems, but shall not be liable for losses caused by unauthorised access resulting from Member negligence.
All digital transactions are deemed final upon confirmation via the Platform or authorised channels, except where reversed due to error, fraud, or regulatory directive.

Members participating in cooperative projects shall adhere to Environmental, Social, and Governance (ESG) standards adopted by the Society.
The Society may decline to finance or invest in activities deemed harmful to the environment, public health, or community welfare.
All agricultural and industrial projects under the Society shall comply with applicable health, safety, and environmental regulations.

The Society may impose service charges, transaction fees, or project levies as approved by the General Meeting or authorised committee.
Such charges shall be transparently communicated to Members via the Platform, written notice, or official bulletin.

Disputes arising under these Terms shall be resolved first through internal mediation, then by referral to the appropriate cooperative regulatory authority, and finally by arbitration in accordance with the Arbitration and Conciliation Act, Cap A18 LFN 2004.
The place of arbitration shall be Abuja, Nigeria, and the language of proceedings shall be English.
These Terms shall be governed by the laws of the Federal Republic of Nigeria.

Any Member who breaches these Terms may be subject to suspension, account restriction, fines, or expulsion in accordance with this Byelaw.
Where breach results in financial loss to the Society, the Member shall indemnify the Society in full.

The Society reserves the right to amend these Terms by resolution of the General Meeting, provided that no amendment shall undermine the rights of Members without their consent as required by law.
Amendments shall take effect from the date of approval and publication on the official Platform or other recognised communication channels.