IDI Roadmap: Important Facts Before Joining
About IDI
The Igbo Development Initiative (IDI) Inc. is a global organization comprising Igbo professionals and intellectuals committed to pooling resources for the industrialization of Alaigbo (Igbo land). As part of this mission, IDI Inc. will establish and promote an IDI Bank to serve as a financial foundation for industrial development in Igboland.
- Legal and Financial Structure
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- IDI Inc. is a for-profit organization with a diverse range of investments structured as Special Purpose Vehicles (SPVs)
- The IDI Financial Institution (FI) will be established in the United States of America and will operate in accordance with U.S. financial laws and regulations, with branches in Igboland subject to Nigerian banking laws.
- Membership Requirements
- To qualify as a member, you must be of Igbo descent and hold at least a Higher National Diploma (HND) or an equivalent academic qualification.
- Membership is open to individuals who are passionate about the economic development of Ndigbo and willing to contribute to the industrialization of Igboland.
- Membership Fees & Contributions
- Registration requires a non-refundable fee of $100 USD and an annual membership due of $120 USD, payable to IDI Inc.’s JP Morgan Chase account.
- Members are required to make a minimum investment of $1,000 USD, which will automatically convert to shares in any IDI SPV where the investment is made. Returns on such investments will be governed by the applicable SPV agreements.
- Shareholding Rights
- Members are free to sell their shares at any time. However, IDI Inc. and its existing members shall have the right of first refusal to purchase such shares before they are offered to external parties.
- Non-members of IDI may also invest in IDI Inc. by purchasing shares.
- Loans and Financial Support
- Both IDI members and non-members will be eligible to apply for loans from IDI Bank once established.
- Loans granted by IDI Bank are intended for investments in industrial projects within Alaigbo.
- Commitment to IDI Values
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- Prospective members must align with the vision, mission, and business principles of IDI Inc., including the collective development approach known as UkwuAzizá (Herd Mentality).
- All members must adhere to the IDI Constitution, Rules, and Resolutions.
- Resignation & Investment Rights
- A member may resign from IDI Inc. at any time. Resignation does not affect the member’s shareholding in any IDI SPV, as IDI Inc. and its SPVs operate as distinct legal entities.
Consent to Membership
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- By proceeding with registration, an applicant confirms that they have read and understood this document and voluntarily agree to abide by the terms of membership.
