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TERMS AND CONDITIONS FOR THE MONIEPOINT PEER-TO-PEER (P2P) REFERRAL PROGRAM

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY

  1. OVERVIEW
    1. The following terms and conditions (the “Referral Terms”) governs the terms under which Rewards (defined below) may be earned by a Referrer and/or Referee (as applicable and defined below) for participating in the Moniepoint Peer-To-Peer Referral Program (defined below) organized by Moniepoint Microfinance Bank Limited (“Moniepoint MFB”). These Referral Terms are supplemental to, and incorporate Moniepoint MFB’s General Terms and Conditions for Account Opening (accessible here) (the “Account Opening Terms”).
    2. The Referral Terms and the Account Opening Terms are jointly referred to as the “Agreement”, and govern your participation in the Moniepoint Peer-To-Peer Referral Program. In the event of any conflict between the Referral Terms and the Account Opening Terms, the Referral Terms shall prevail, unless expressly stated otherwise.
    3. Capitalized terms used in these Referral Terms unless otherwise defined herein shall have the meanings assigned to them in the Account Opening Terms. By participating in the Moniepoint Peer-To-Peer Referral Program, whether by sharing a Referral Link or Referral Code (as applicable and defined below) as a Referrer or registering through a Referral Link or Referral Code as a Referee, you agree to be bound by the Agreement. If you do not agree to any provision of the Agreement, please do not participate in the Moniepoint Peer-To-Peer Referral Program.
    4. The Moniepoint Peer-To-Peer Referral Program will be strictly available for the Referral Program Period (defined below), and Rewards shall only be awarded where all applicable terms and conditions contained in the Agreement are satisfied by the Referrer and/or Referee, as applicable.
    5. Moniepoint MFB may set additional eligibility requirements or participation criteria for the Moniepoint Peer-To-Peer Referral Program, as communicated In-App, and such requirements may be updated from time to time.
  2. DEFINED WORDS AND THEIR MEANINGS
    3. WordMeaning
    ActivationMeans the successful completion by a Referee of the required Qualifying Transactions within the Qualifying Window under this Moniepoint Peer-To-Peer Referral Program.
    AffiliateA company or legal entity which (a) controls Moniepoint MFB, either directly or indirectly; or (b) which is controlled directly or indirectly by Moniepoint MFB; or (c) is directly or indirectly controlled by a company or entity which directly or indirectly controls Moniepoint MFB.
    In-AppThe communications displayed on Moniepoint MFB’s internet banking and mobile applications.
    InviteeA person who has received a Referral Link or Referral Code from an eligible Referrer but has not yet completed registration on the Moniepoint MFB Banking Application. An Invitee becomes a Referee upon successful completion of registration using a valid Referral Link or Referral Code.
    Moniepoint MFB Banking ApplicationMeans the personal banking and business banking mobile applications and web platforms made available by Moniepoint MFB for access to its banking services, as may be updated from time to time.
    Moniepoint Peer-To-Peer Referral ProgramOur referral program which allows Referrers or Referees, as applicable, to earn Rewards subject to a Referee’s successful sign-up to the Moniepoint MFB’s Banking Application and the subsequent fulfilment of the applicable Qualifying Transaction(s) within the Qualifying Window, in accordance with the terms of these Referral Terms.
    Offline Sales NetworkMeans any individual or entity involved in the official or informal offline distribution, marketing, or sale of Moniepoint MFB products and services.
    ParticipantAn eligible Referrer or Referee who participates in the Moniepoint Peer-To-Peer Referral Program in accordance with the terms of these Referral Terms.
    Qualifying Transaction(s)Means a successful airtime, data or bill payment top-up of not less than NGN300 (Three Hundred Naira), completed via the Moniepoint MFB Banking Application and recorded as successfully processed in Moniepoint MFB’s systems, up to a maximum of five (5) such transactions per Referee within the Qualifying Window.
    Qualifying WindowThe sixty (60) calendar-day period commencing from the date of a Referee’s sign-up, within which all Qualifying Transactions must be completed.
    Referral CodeA unique digital code generated by the Moniepoint MFB Banking Application and assigned to each eligible Referrer.
    Referral LinkA unique digital link generated and assigned to each eligible Referrer through the Moniepoint MFB Banking Application for use within the Moniepoint Peer-To-Peer Referral Program.
    Referral Program PeriodRefers to the specific timeframe during which the Moniepoint Peer-To-Peer Referral Program will be available as displayed In-App, which Moniepoint MFB may amend from time to time.
    Referral WalletMeans the In-App wallet within a Participant’s Moniepoint MFB Account into which cashback Rewards earned under this Campaign are credited.
    RefereeA person who has not previously registered for or held an active Moniepoint MFB Account and who signs up using a Referrer’s Referral Link or Referral Code while the Moniepoint Peer-To-Peer Referral Program is active.
    ReferrerAn eligible existing Moniepoint MFB customer who participates in the Moniepoint Peer-To-Peer Referral Program by sharing a Referral Link or Referral Code with a prospective Invitee and who may earn Rewards in accordance with these Referral Terms upon the successful completion of the applicable Qualifying Transactions by a Referee within the Qualifying Window.
    RewardMeans the monetary reward of NGN100 (One Hundred Naira) payable to an eligible Participant under this Moniepoint Peer-To-Peer Referral Program for each successful Qualifying Transaction.
  3. ELIGIBILITY
    1. Referrer Eligibility. To be eligible as a Referrer, an individual must satisfy all of the following conditions:
      • be an existing Moniepoint MFB customer with an active account in good standing;
      • not be a member of, or associated with Moniepoint MFB’s official or informal offline sales or marketing network, including any person who has been involved in selling cards or has held cards in their possession for sale since January 2025;
      • not have been onboarded offline by an aggregator, Business Relationship Manager (BRM), or Personal Relationship Manager (PRM) on to the Moniepoint MFB business banking application; and
      • have accessed and activated the Moniepoint Peer-To-Peer Referral Program through the Moniepoint Banking Application.
    2. As a Referrer, you acknowledge that when making a referral:
      • You will only share your Referral Link or Referral Code with individuals you know and have permission to contact, and you will not send unsolicited referrals.
      • You will ensure that any Invitee consents to receiving your Referral Link or Referral Code prior to sharing the same.
      • You will share your unique Referral Link or Referral Code with an Invitee to enable the Invitee sign-up for Moniepoint MFB Banking Application under the Moniepoint Peer-To-Peer Referral Program.
      • You will inform an Invitee that you may receive a Reward from the referral and that both you and the Invitee may earn Rewards upon fulfilment of the applicable Qualifying Transactions.
      • You will not directly or indirectly pressure, exert any undue influence, or become a nuisance to any person who does not wish to become an Invitee. An Invitee’s decision to sign up to Moniepoint MFB services shall be entirely voluntary.
    3. You acknowledge that by sharing your Referral Link or Referral Code with an Invitee who subsequently becomes a Referee, Moniepoint MFB may award Rewards based on the fulfilment of the applicable Qualifying Transactions, and you consent that Moniepoint MFB may share your name and username with the Referee upon their access to the Referral Link or Referral Code.
    4. Referee Eligibility. To qualify as a Referee, an individual must satisfy all of the following conditions:
      • Have never previously registered for, held or maintained an active Moniepoint MFB personal banking account at any time prior to participation in this Moniepoint Peer-To-Peer Referral Program;
      • Sign up exclusively through the Moniepoint MFB Banking Application, using a valid Referral Link or Referral Code issued by a Referrer; and
      • Not be a member of the Offline Sales Network as defined above.
    5. General Eligibility Restrictions. The following persons are not eligible to participate in the Moniepoint Peer-To-Peer Referral Program in any capacity:
      • Persons who are members of the Offline Sales Network;
      • Persons whose Moniepoint MFB accounts have been suspended, restricted, or flagged for any regulatory, compliance, or fraud-related reason;
      • Persons below the age of eighteen (18) years.
  4. ENTRY REQUIREMENTS
    1. To participate in the Moniepoint Peer-To-Peer Referral Program, a Participant must meet the eligibility requirements set out in Clause 3 and comply with the participation steps set out in these Referral Terms.
    2. A Referrer may share their unique Referral Link or Referral Code with a prospective Referee through any channel of their choosing.
    3. A Referee must register on the Moniepoint MFB Banking Application either by clicking the Referral Link or by downloading the application and entering the applicable Referral Code during registration.
    4. There is no manual entry, or separate registration form required for participation. Participation is triggered through the use of a valid Referral Link or Referral Code.
  5. REWARD CREDITING AND LIMITATION
    1. Cashback Amount. Eligible Participants shall receive a cashback Reward of NGN100 (One Hundred Naira) for each Qualifying Transaction completed in accordance with these Referral Terms.
    2. Reward Structure. The total Reward payable under this Moniepoint Peer-To-Peer Referral Program is as follows:
      • NGN100 (One Hundred Naira) to the Referrer for each Qualifying Transaction completed by the Referee, subject to a maximum of five (5) Qualifying Transactions per Referee within the Qualifying Window;
      • NGN100 (One Hundred Naira) to the Referee for each Qualifying Transaction completed within the Qualifying Window, subject to a maximum of five (5) Qualifying Transactions; and
      • a maximum total payout of NGN500 (Five Hundred Naira) to the Referrer and NGN500 to the Referee upon successful completion of all five (5) Qualifying Transactions.
    3. Payment Timeline. Rewards shall be credited to the relevant Participant’s Referral Wallet following successful validation of the applicable Qualifying Transaction. However, crediting may be delayed by system reconciliation, verification, technical issues, or fraud screening processes. Moniepoint MFB may credit a Reward within a reasonable period after the issue is resolved.
    4. Overall Limit. A Participant shall only be entitled to Rewards in respect of valid Qualifying Transactions completed during the Qualifying Window and in accordance with the terms of these Referral Terms. Moniepoint MFB may, at its discretion, apply additional limits to the Moniepoint Peer-To-Peer Referral Program, including overall program limits, transaction limits, or Referral Wallet limits, and may communicate such limits through In-App notifications or other official Moniepoint MFB communication channels.
    5. Reward Conditions. Where a Qualifying Transaction is later reversed, cancelled, refunded, charged back, or found to be invalid for any reason, Moniepoint MFB reserves the right to withhold the applicable Reward or reverse any Reward already credited in respect of that transaction. Moniepoint MFB shall not be liable for any failure to receive a Reward arising from technical malfunctions, network failures, system downtime, incorrect transaction details, insufficient balance, or any other issue beyond its reasonable control.
  6. FRAUD, ABUSE AND DISQUALIFICATION
    1. If Moniepoint MFB reasonably suspects that you have not participated in the Moniepoint Peer-To-Peer Referral Program in good faith, or have breached any provision of these Referral Terms or the Account Opening Terms, Moniepoint MFB may refuse to pay any Reward and may suspend or terminate your participation in the program.
    2. Moniepoint MFB reserves the right to disqualify any Participant and/or restrict access to the program where it reasonably suspects fraud, abuse, artificial transaction inflation, collusion, false information, duplicate accounts, automated activity, or any other suspicious conduct.
    3. Without limitation, the following may constitute abuse of the Moniepoint Peer-To-Peer Referral Program:
      • creating fictitious, duplicate, or fraudulent accounts for the purpose of generating referrals or Rewards;
      • manipulating, spoofing, or artificially inflating referral or transaction activity;
      • using automated tools, bots, scripts, or other unauthorised means to generate referrals or complete transactions;
      • collusion between Participants or third parties to circumvent the eligibility criteria or Reward conditions;
      • providing false or misleading information during account registration or participation; and
      • participation by persons in the Offline Sales Network contrary to these Referral Terms.
    4. Where Moniepoint MFB reasonably suspects fraud, abuse, or misuse of the Moniepoint Peer-To-Peer Referral Program, it may, at its sole discretion and without prejudice to any other rights available under law:
      • disqualify you from the Moniepoint Peer-To-Peer Referral Program;
      • withhold, reverse, or claw back any Reward payable or already paid;
      • restrict, suspend, or close your Account in accordance with the Account Opening Terms; and/or
      • report the matter to relevant regulatory or law enforcement authorities where required.
    5. Moniepoint MFB’s determination regarding eligibility, abuse, fraud, and disqualification shall be final and binding.
  7. TAXES

    8. Participants shall be solely responsible for any taxes payable on the Rewards received under this Moniepoint Peer-To-Peer Referral Program, where applicable.

  8. UNDERTAKINGS AND OTHER GENERAL PROGRAM INFORMATION
    1. Acknowledgment. By participating in the Moniepoint Peer-To-Peer Referral Program, you acknowledge and agree that:
      • entitlement to any Reward is strictly conditional upon the successful completion and validation of Qualifying Transactions within the Qualifying Window;
      • Rewards are not guaranteed where transactions fail, are reversed, are disputed, or are otherwise invalid;
      • you remain responsible for complying with these Referral Terms, the Account Opening Terms, and all applicable laws and regulations; and
      • you are at least eighteen (18) years of age, and you warrant that this representation is true and accurate at the time of participation and throughout the Referral Programme Period.
    2. By participating in the Moniepoint Peer-To-Peer Referral Program, you acknowledge and consent that Moniepoint MFB may use your name, social media user handle, and other participation-related information for the purposes of announcing, promoting, and publicising the program, including across Moniepoint MFB’s official media channels.
    3. Such use shall be limited to program-related promotional, marketing, and publicity activities and shall be carried out in accordance with applicable data protection laws, including the Nigeria Data Protection Act 2023.
    4. You may withdraw your consent to such use at any time by contacting Moniepoint MFB. Such withdrawal shall not affect the lawfulness of any processing carried out prior to the withdrawal of consent.
    5. Data Protection. Moniepoint MFB will process personal data in connection with the Moniepoint Peer-To-Peer Referral Program for the purposes of:
      • verifying eligibility and participation in the Referral Program;
      • generating and validating Referral Links and Referral Codes;
      • administering the Referral Program, including onboarding, referral tracking, Reward validation, fraud prevention, and Reward disbursement;
      • communicating with Participants regarding the Referral Program;
      • detecting, investigating, and preventing fraud, abuse, suspicious activity, duplicate accounts, or artificial transaction activity;
      • complying with applicable legal, regulatory, risk management, and financial services obligations; and
      • promotional or publicity purposes where consent has been obtained.
    6. By participating in the Moniepoint Peer-To-Peer Referral Program, you acknowledge that your personal data will be processed in accordance with these Referral Terms and Moniepoint MFB’s Privacy Policy, accessible here, which provides further information on how we collect, use, store, share, retain, and protect your personal data, as well as your privacy rights.
    7. You acknowledge that Moniepoint MFB reserves the right to set off any Reward against amounts you owe to Moniepoint MFB under your Moniepoint MFB Account or any facility or credit arrangement directly associated with your Moniepoint MFB Account, where such right of set-off is permitted under applicable law and the Account Opening Terms. Moniepoint MFB will notify you before exercising any such right of set-off in respect of a Reward, except where prohibited by applicable law or where there is a risk of fraud or money laundering.
  9. LIMITATION OF LIABILITY AND INDEMNITY
    1. Limitation of Liability. To the maximum extent permitted by applicable law, Moniepoint MFB shall not be liable to you or any third party for any indirect, incidental, consequential, punitive, or special damages, including loss of revenue, loss of profits, or loss of opportunity, arising out of or in connection with:
      • your participation in the Moniepoint Peer-To-Peer Referral Program;
      • delays or failure in Reward payment;
      • technical failures, network interruptions, or system downtime; or
      • merchant, telecom, or third-party issues affecting airtime top-up transactions.
      Nothing in these Referral Terms shall exclude or limit liability which cannot be excluded under applicable law.
    2. Liability Cap. Where permitted by law, Moniepoint MFB’s total aggregate liability arising in connection with the Moniepoint Peer-To-Peer Referral Program shall not exceed the total Reward amount properly due to you in respect of the relevant Qualifying Transaction giving rise to the claim.
    3. Indemnity. You hereby indemnify and hold Moniepoint MFB, its directors, officers, employees, agents, partners and Affiliates (the “Indemnified Persons”) harmless from any and all claims or demands, losses, liabilities, damages, costs and expenses (including reasonable attorneys’ fees), whether direct or indirect, including any interest, fines, and other professional fees and expenses awarded against or incurred or paid by the Indemnified Persons, arising out of or in connection with: (a) your breach of the Agreement; (b) fraud, negligence, and/or willful misconduct committed by you; (c) your actions, inactions, or omissions that damage the reputation of Moniepoint MFB; and (d) your failure to comply with applicable laws.
  10. GENERAL TERMS
    1. We may vary the terms of the Moniepoint Peer-To-Peer Referral Program from time to time, including but not limited to the Referral Program Period, Rewards, Qualifying Transactions, and eligibility criteria. We may also amend these Referral Terms from time to time by updating them on our website or through In-App notifications, and such amendments shall take effect upon publication unless otherwise stated.
    2. By continuing to participate in the Moniepoint Peer-To-Peer Referral Program after any such amendment, you agree to be bound by the updated Referral Terms. For material amendments including changes to Reward values, eligibility criteria, the Qualifying Window, or the Qualifying Transactions, Moniepoint MFB will use reasonable efforts to notify Participants in advance through In-App notifications or other official communication channels before such changes take effect. Non-material amendments, including typographical corrections and administrative updates, may take effect immediately upon posting.
    3. We reserve the right to suspend or terminate the Moniepoint Peer-To-Peer Referral Program at any time. Where this occurs, Moniepoint MFB may notify Participants of the termination and, where applicable, the remaining period within which participation or Reward accrual may continue.
  11. REFERRAL WALLET
    1. Rewards earned under this Moniepoint Peer-To-Peer Referral Program shall be credited to the Participant’s Referral Wallet as defined in Clause 2. A Participant may transfer funds standing to the credit of their Referral Wallet to their main Moniepoint MFB Account in such manner and subject to such minimum transfer amounts as Moniepoint MFB may communicate In-App from time to time.
  12. COMPLAINTS AND DISPUTE RESOLUTION

    13. If you have a complaint regarding the Programme or a Reward decision, please contact Moniepoint MFB’s customer service team at [email protected]. We will acknowledge your complaint within two (2) business days and endeavour to resolve it within twenty (20) business days in accordance with the Central Bank of Nigeria Consumer Protection Framework 2022.

  13. GOVERNING LAW AND JURISDICTION
    1. These Referral Terms and the Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria.
    2. Any dispute arising out of or in connection with these Referral Terms shall first be referred to Moniepoint MFB’s internal complaints process. Where the dispute is not resolved internally, the parties may explore good faith resolution.
    3. Where the dispute remains unresolved, it shall be subject to the non-exclusive jurisdiction of the courts of the Federal Republic of Nigeria.

Last Updated: 31st July, 2026