Lashone Club: membership terms

Anyone aged 18 or over with a Lashone account can apply. The club manager approves each member before any money is paid.

• Apply in your Lashone account with your full name, title, address, phone, email and next of kin (name, address, phone and email).
• Upload a valid photo ID (international passport, driver's licence, NIN card or voter's card) and choose a contribution level.
• The club manager checks your details and approves your application, or declines it with a reason.
• Once approved, pay by bank transfer into the club's own account with your reference and upload the receipt. Your membership starts when the money is confirmed in the club's bank account.
• You accept the membership agreement in your account and receive a membership number and certificate.

Each contribution is in one of five levels. You may make a further contribution later, with its own term.

• Bronze: ₦100,000 to under ₦500,000
• Silver: ₦500,000 to under ₦2 million
• Gold: ₦2 million to under ₦5 million
• Diamond: ₦5 million to under ₦10 million
• Platinum: ₦10 million and above

Each contribution is held for 12 or 24 months, chosen when you join. The term starts on the day the club confirms your money in its bank account.

One month before the term ends, we remind you in your account and by email, and you choose to renew for another term or to be repaid. If you choose nothing, the contribution renews for the same term. A contribution not renewed is repaid into your own bank account within 14 days of the end of the term.

Members share in the surplus earned by the club's projects in estates, land and farming, in proportion to their contribution and the time it has been held.

The trustees declare each quarter's members' share after that quarter's project results are known. Your share is paid within 14 days of the end of the quarter into your own bank account, less withholding tax, and shown on your statement. No rate is fixed or guaranteed: what members receive depends on the projects' results.

Give notice in your Lashone account. Repayments are made within 14 days after the notice period ends, and only into a bank account in your own name.

• Part withdrawal: up to 25% of a contribution every six months, with one month's notice. Your share continues on the remainder, and your level may change if the balance falls below its minimum.
• Leaving early: after the first six months, with one month's notice. Your contribution is repaid in full, and 20% of the members' share for the current term is withheld as the early-exit charge. Shares already paid are not taken back.
• Leaving at the end of a term: no charge.
• Death of a member: the contribution and any share due are paid to the next of kin named in the application, after the club receives the death certificate and proof of identity, with no early-exit charge.
• Leaving the club ends the member's discounts and member card.

• A discount on group services such as laundry, event coverage, media and adverts, and security, applied in your Lashone account: Bronze 2.5%, Silver 5%, Gold 10%, Diamond 15%, Platinum 20%.
• A member card in your level's colour (Bronze red, Silver silver, Gold gold, Diamond yellow, Platinum black) with your membership number.
• Up to 20% off Lashone Properties land and homes, as set for each listing.
• A quarterly allocation of produce from Lashone Farms.

All money moves through one bank account in the club's own name. Pay by bank transfer only, with your reference, never in cash and never into another Lashone company's account or a personal account. A contribution is approved only after the money is seen in the club's bank account, and nobody approves their own.

Your Lashone account shows every contribution, each quarter's share, payments made to you and the next payment date. Changes to your payout bank details are emailed to you.

The Board of Trustees sets the club's direction and a management committee runs it day to day. Contributions fund the club's approved projects in estates, land and farming, and each project and its progress are reported to members. Members meet twice a year to receive the projects' performance reports and the club's accounts.

These terms are governed by the laws of the Federal Republic of Nigeria. We may update them; the version in force when you make a contribution applies to it.