i-Refer is a customer referral scheme (“the Scheme”) through which CEMCS Microfinance Bank (“CEMCS MFB”) rewards its existing customers for introducing new prospects (“Prospects”) to CEMCS MFB.

The Scheme shall be governed by the following terms and conditions:

1. Prospects may only be introduced by existing individual CEMCS MFB customers whose
accounts are active (“Referrers”); 

2. Referrals can only be initiated via any of the following available channels:
– CEMCS MFB’s Internet Banking Platform
– Any CEMCS MFB branch

3. Upon initiating a Referral via any of the channels as stated above or as may be
further advised by the Bank, a unique code (“the Referral Code”) will be
generated for the Referrer and communicated to the Prospect; 

4. There is no limit to the number of prospects that can be introduced to CEMCS MFB by
each Referrer;

5. The unique Referral Code must be provided by Prospects at the point of opening Referral Accounts, before the referral will be recognised by CEMCS MFB. 

6. There shall be a cash reward of N100.00 (one hundred Naira only) (“Cash Reward”) for each Prospect referred to the Bank.

7. A Cash Reward paid to a Referrer on an identified Prospect automatically disqualifies the Referrer from earning additional Cash Reward on that Prospect. 

8. Referrers shall only be entitled to the Cash Reward upon the fulfilment of all the underlisted conditions as will be confirmed by CEMCS MFB in its sole and absolute discretion:
– The correct Referral Code must be used in opening the Referral Account;
– A CEMCS MFB Naira MasterCard must be collected and activated by the Prospect;
– The Prospect must carry out at least one transaction on the Referral Account;
and
– The Referral Account must have been active for a minimum period of one (1)
month from the date it was opened. 

10. CEMCS MFB’s confirmation referred to in (9) above shall be final and binding on all Referrers, and no Referrer shall contest same.

11. The conditions for redeeming the Cash Reward must be fulfilled within six (6) months from the date a Referrer introduces a Prospect to CEMCS MFB, after which the Referrer will forfeit the Cash Reward.

12. The Referrer hereby undertakes to indemnify the Bank and keep the Bank indemnified against any loss, cost, damage and/or liability (including attorney’s fees) and all other expenses incurred by the Bank, arising directly or indirectly from the Referrer’s introduction of any Prospect(s) to the Bank.

13. CEMCS MFB is entitled to, at its sole discretion and without notice to anyone whomsoever, change or modify these terms and conditions and shall not be liable for any such change or modification.

14. If one or more conditions of these terms and conditions are void or invalid, this will not affect the validity of the remaining conditions herein.

15. This Terms and Conditions shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria.