DEADLINE: 25TH APRIL, 2023
ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
INVITATION TO BID FOR SALE OF PROPERTIES

The Asset Management Corporation of Nigeria (AMCON) in fulfilment of its objectives and exercise of its statutory duty of efficiently resolving Eligible Bank Assets purchased from various eligible financial institutions in Nigeria, hereby offers the following properties for sale to interested members of the public. Further details of properties available for sale, can be found on the following website: www.amcon.com.ng.

ELIGIBILITY TO PARTICIPATE:
To participate in the process, an interested party must meet the following criteria:
i. Individual / Corporate entity must not be indebted to AMCON.
ii. Directors of interested companies must not be indebted to AMCON; and
iii. Individual must not be an AMCON employee, a relative of an AMCON employee or member of the Board of AMCON.

BIDDING PROCESS:
i. A competitive bidding process has been adopted for the disposal of the properties.
ii. Bid forms are available from the coordinating agent, Osy Kamalu & Associates: 09051331416, 08036274306.
Alternatively, they can be downloaded from AMCON’s website www.amcon.com.ng under Asset Disposal – Assets for Sale or requested by emailing amcon.disposals@amcon.com.ng osykamaluassociates@gmail.com or osykamaluagency@gmail.com
iii. Bid forms must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to the Asset Management Corporation of Nigeria or evidence of the transfer of 10% of the bid sum to AMCON via the Remita platform, details of which are provided with the bid forms. Where bank drafts are provided, please note that if the deposit sum exceeds N10 million, multiple certified bank drafts must be provided.
iv. The bid submission must be made in a sealed envelope with “Bid for Property” inscribed on the top left corner of the envelope.

v. The Certified Bank Drafts and transferred funds of unsuccessful bidders will be returned or refunded once the bidding process is concluded.

vi. The successful bidder will be required to pay the 90% outstanding balance of the bid price within 30 calendar days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the property will be offered to other buyers.
vii. Bids cannot be withdrawn or cancelled once submitted.

SUBMISSION OF BIDS- LAGOS:
i. Bids for the properties located in Lagos and Ondo States must be sealed and submitted in the designated bid box at the following address:
Asset Management Corporation of Nigeria (AMCON) 67, Marina Street, Lagos Island, Lagos
ii. The deadline for the submission of bids is 12:00 noon Monday, April 24th, 2023.
iii. All bids submitted in Lagos will be opened at the AMCON office where the bids were submitted at 1.00pm, Monday, April 24th, 2023.

S/NAsset AddressAsset Description DetailsAsset Description DetailsLocation
1Km 7, Aba-Umuahia Expressway, Osisioma, Osisioma Local Government Area, Abia StateLand, Building, Plant & MachineryAba-Umuahia Expressway is the major arterial road leading from Port-Harcourt through Aba and leads towards Umuahia.. Property is situated on a land size of approximately 21,561.629 sqm and includes a Brewery warehouse, raw material and packaging warehouse, ethanol production plant, water treatment plant, guest-house, staff quarters, power house, two security housesAbia
2Km 42 Along Lekki -Epe Expressway, Aiyeteju B/Stop Ibeju-Lekki, Lagos State
Commercial		CommercialThe property is situated at Km 42 Lekki-Epe Expressway, Aiyeteju Bus Stop in Ibeju – Lekki Local Governement Area of Lagos State. It has a warehouse, factory buildings and other ancillary buildings. Notable landmarks include Chreubim & Seraphim Church, Chicken Republic, Echo Club, Kingston Jo Foods, Fidelity Bank, Keystone Bank. Property is situated on a land size of approximately 13,799.209 sqmLagos
3Km 16, Bolorunduro, Old Akure-Owo Road, Akure North Local Government Area, Ondo StateCommercialThe property is situated adjacent to Bolorunduro Police Station. Development on site comprises of a security gate-house that is developed on a large expanse of fenced land The land size of approximately 29.355 Hectares.Ondo

SUBMISSION OF BIDS – ABUJA:
iv. Bids for the property located in Abia State must be sealed and submitted in the designated bid box at the following address:
Asset Management Corporation of Nigeria (AMCON) Plot 417, Tigris Crescent, Off Aguiyi Ironsi Road, Maitama Abuja
i. The deadline for the submission of bids is 12:00 noon Tuesday, April 25th, 2023.
ii. All bids submitted in Abuja will be opened at the AMCON office where the bids were submitted at 1.00pm, Tuesday, April 25th, 2023.

OPENING OF BIDS:
i. All bidders and/or their representatives are welcome to be present at the bid opening. The highest bid for each
property will emerge the winner subject to the highest bid being equal to or above the reserve price. Results will be announced immediately after the conduct of the exercise.
ii. In the event of a tied bid at the bid opening or where none of the bids match or exceed the reserve price, bidders will be required to submit fresh bids at the bid opening. The outcome of the fresh bid submissions will be announced at the bid opening.
iii. Conclusion of sale of some properties, due to size, may further be subject to higher authority approval.

PROPERTY INSPECTION:
All interested bidders are invited to contact the Coordinating Agent, Osy Kamalu & Associates – 09051331416 and 08036274306 for guided inspections of the properties and enquiries. The properties will be sold on an “as is” basis. For further information and clarification please visit our website www.amcon.com.ng or email AMCON at amcon.disposals@amcon.com.ng.

SIGNED:
The Secretary, Asset Sale & Negotiation Committee
417, Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja.

Banner