DEADLINE: 26TH JUNE, 2023
ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
AUCTION SALES 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
| S/N | ASSET ADDRESS | ASSET DESCRIPTION DETAILS | ASSET DESCRIPTION DETAILS | LOCATION |
| 1 | 2.174 Hectares, CR/C/462 Calabar Municipality Esuk Utan – Calabar | Bareland | Undeveloped Land measuring 21,700sqm | Cross River |
| 2 | Plot 2209, Cadastral Zone A01, Garki, Abuja | Bareland | Bare land situated directly on the Goodluck Jonathan expressway in Central Business District of Abuja. Notable landmarks within the vicinity include the Central Bank of Nigeria, Nicon Luxury Hotel and Ecumenical center. It has a full serviced infrastructure while development on site includes a fence and security post 14,600 Sqm. | Abuja |
| 3 | Two (2) uncompleted twin semidetached duplex within Ocean Bay Estate | Residential | Two (2) Residential uncompleted semidetached duplex each consisting of 2 units of 4 bedroom duplex ,totaling 1.222 Sqm in a built up residential estate. | Lagos |
| 4 | Km 4 Ayetoro- Lafenwa Road, Abeokuta | Plant and Machnery | The property is a commercial warehouse complex, consisting of an Office Block and Warehouse Building. It is fully secured with a block fence (rendered and painted in emulsion finish) a Gate and Gate House. The external area is fully paved with concrete slabs. Other services on site include borehole, overhead water storage tank, car port, transformer and external service bay. The land size is approximately 2.529.63 Sqm | Ogun |
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 www.osykamalu.com.ng
iii. Bid forms must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to the Asset Management Corporation of Nigeria, 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 of unsuccessful bidders will be returned 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 that meets the stipulated reserve price and requirements.
vii. Bids cannot be withdrawn or cancelled once submitted.
SUBMISSION OF BIDS ABUJA:
i. Bids for the properties in Abuja and Cross River 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 Aguyi Ironsi Road, Maitama Abuja
i. The deadline for the submission of bids is 11:00 am Friday, June 23rd, 2023. ii. All bids submitted in Abuja will be opened at the AMCON office where the bids were submitted at 12:00 noon, Friday, June 23rd, 2023.
SUBMISSION OF BIDS LAGOS:
ii. Bids for the properties in Lagos and Ogun 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
iii. The deadline for the submission of bids is 11:00 am Monday, June 26th, 2023.
iv. All bids submitted in Lagos will be opened at the AMCON office where the bids were submitted at 12:00 noon, Monday, June 26th, 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; 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 Sr Negotiation Committee
417, Tigris Crescent Off Aguiyi Ironsi Street, Maitama, Abuja.
This publication and process neither creates any commitment nor establishes any binding or legal obligation on the seller. All costs incurred by prospective buyers as a result of responding to this advertisement and any subsequent request for information shall be on the prospective buyer’s account.
