DEADLINE: 25TH AUGUST, 2022
ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
INVITATION FOR APPLICATIONS FOR THE SELECTION AND ENGAGEMENT OF ASSET MANAGEMENT PARTNERS
The Asset Management Corporation of Nigeria (AMCON), pursuant to Section 7 of the AMCON Act No. 4, 2010 has commenced the process of engaging the services of companies, firms and/or consortiums to serve as Asset Management Partners (AMPs). The AMPs are firms with specialist skills authorized to among others act on behalf of the Corporation to ensure debt recovery and resolution, administer, manage and are also authorized to demand and enforce the recovery of all payments in connection with certain categories of Eligible Bank Assets (EBAs).
We are by this advert requesting applications from reputable and qualified entities with the requisite experience to submit same for selection by AMCON.
The scope of the activities should address the following:
- Tracing, identification and location of obligors with intent to resolve their outstanding indebtedness.
- Tracing, identification and location of assets of obligors (both pledged and unpledged) to enhance the EBA value.
- Negotiation of settlement and restructuring terms with identified obligors in line with approved guidelines.
- Pursuing and enforcing debt recovery and collection activities geared towards optimization of assigned portfolio to achieve set targets.
- Initiation of legal actions to further the loan recovery mandates in line with approved guidelines.
Requirements All consortiums/applications must constitute of the underlisted in-house capacity and competencies:
a) Banker- Banking issues with a strong background in Credit Process & Loan Documentations
b) Lawyer- Litigation and Court Processes including Mediation.
c) Estate Valuer- Valuation of assets
d) Chartered Accountant- Reconciliation and Audit
All applicants are required to submit the under listed documents as part of the criteria for pre-qualification:
MANDATORY (without which the firm will be disqualifid)
1. A Letter of Application.
2. Evidence of incorporation or registration with the Corporate Affairs Commission.
3. Evidence of payment of tax for the last three (3) years as at when due
4. Evidence of employees Retirement Savings Accounts (RSA) with a pension Fund Administrator.
5. Evidence of remitting employer and employee pension contributions to the appropriate pension fund custodian.
6. Each applicant is also required to submit a firm profile detailing the following, as a basis for selection:
a) The Consortium’s verifiable physical address
b) Demonstrable experience in similar transactions
c) Recommended transaction approach
d) Experience of key team members
e) Potential conflicts of interest to be stated (All current obligors to AMCON with Loans not yet restructured or not meeting with agreed payment timelines will be disqualified. Persons who are representing Obligors of AMCON will have to terminate that relationship before they can become AMPs to avoid conflict of interest.)
f) Corporate profile of the firm including ownership structure, CV of key personnel supported by Professional licenses, registered address, functional contact email address, GSM phone number(s), facsimile number(s).
g) Audited accounts in the last three (3) years duly stamped by licensed Auditors. h) Verifiable reference of related services rendered in the last three (3) years (attach letters of engagement)
i) Track record of past performance
The requested information and relevant support documents (all of which should be in English Language) should be properly sealed and marked “Confidential – Application for Selection of Asset Management Partner [AMCON].”
AMCON will in its discretion disqualify any application which it deems undesirable and reserves the right to contact only shortlisted applicants. All responses must reach us within 2 weeks of publication at the following address to be clearly marked on the envelope:
The AMPs Project Office
Asset Management Corporation of Nigeria
417 Tigris Crescent,
Off Aguinyi Ironsi Way
Maitama – Abuja Nigeria.
Where mails are sent by post, it must be 72 hours before the closing date to allow for delivery logistics as no mail received afterwards will be entertained.
All enquiries should be sent to amps@amcon.com.ng. Contact numbers for all enquiries are +234-1-2773210, extension 5623 (Abdulazeez).
Only selected applicants will be notified of the outcome of the selection process within 4 weeks from the closure date.
KINDLY NOTE THAT EMPLOYEES OF AMCON AND MEMBERS OF THEIR IMMEDIATE FAMILIES ARE NOT ELIGIBLE TO APPLY.
