DEADLINE: 18TH APRIL, 2025
TEARFUND
REQUEST FOR FINANCIAL SERVICES PROVIDER

PURPOSE OF THE SERVICE REQUIRED
In the context of the SWEEP, Tearfund intends to commission a FSP to initially transfer through their transfer methods (to be proposed by FSP) a two instalment payment of the sum N300,000 naira per family to 150 households members during a period of five months, summing up to a total of 45,000,000 naira.

The sum of 150,000 naira payment will be made to eligible beneficiaries, the balance of 150,000 naira will be made after the period of 3 months during which Tearfund will monitor and assess the proper use of the cash grant by the beneficiaries.

The second tranche of funds will be disbursed after Tearfund submits a beneficiary list to the FSP, the second list of beneficiaries may differ from the first list of beneficiaries depending on the outcome of the assessment conducted. It is required that the selected FSP has good coverage in the operational area of Oyo, Osun and Ogun states.

It is required that the FSP provides enough agents in all targeted communities (as per table 1) during the disbursement period, so that all beneficiaries can have immediate access to their money.

DELIVERABLES

  • FSP to provide staff with relevant experience, skills and capacities to register account owners in the FSP system, and disburse cash to Tearfund intended beneficiaries in the targeted [Oyo, Osun and Ogun states] as stipulated in the encashment plan (to be provided if contract is awarded).
  • FSP is responsible for beneficiary registration as necessary in their system and all relevant costs of the cash distribution, including transport and agent fees.
  • FSP will provide training to Tearfund staff, volunteers and beneficiaries on the use of their systems and how beneficiaries can access their money.
  • To ensure only verified recipients receive payment
  • To ensure the recipients receive the amount of cash grant as approved by Tearfund
  • To ensure cash is disbursed on time in a safe and secure place where the recipients are able to safely access the money.
  • To ensure there is proof of receipt of cash by the recipient.
  • To coordinate with Tearfund in solving problems that may be encountered during disbursement regarding identities of the beneficiaries.
  • FSP to provide Tearfund with a platform to facilitate the follow up and tracking of the cash disbursements.

Once disbursement is completed, the FSP will provide Tearfund with proof of money transfer and specify in which format within 5 working days.

SERVICES FEES
The FSP will be required to provide all the details regarding the relevant costs related to the cash disbursement service provision to the beneficiaries within the framework agreement. These costs will be stipulated in the contract agreement. The agreed costs shall not change throughout the contract period nor there any additional costs apart from the ones in the agreed and signed contract.

Payment of service fees will only be paid after the successful completion of round disbursements.

PAYMENT
Tearfund shall transfer the necessary funds for each [after 3 months] disbursement to the FSP; the funds need to go directly to a dedicated account especially for cash disbursement purpose with detailed confirmation that the funds have arrived. This is to be done within five working days prior to the scheduled transfer to the beneficiaries.

The service charges to the FSP may be transferred after the successful completion of each tranche of disbursement upon signing the Service Delivery Note. Tearfund will transfer the funds into the FSP account as indicated in the contract agreement.

SELECTION CRITERIA
The application with the best technical approach and favourable service delivery and charge will be selected.

Geographical Coverage/Number of Beneficiaries

S/NSTATELGACOMMUNITY
1OYOIwajowaIganna
KajoalaIlero
Okeho
Ibarapa NorthIgangan
Ibarapa CentralIdere
Igboora
2OSUNIfe NorthIpetumodu
Akinalu
Edun Abon
3OGUNIjebu OdeSabo
Apebi
TOTAL

Budget and Payment Terms
The total amount to be disbursed to selected beneficiaries across the three states is [45 million naira]. This amount will be disbursed in two tranches with a period of 3 months interval between the first and second disbursement.

Transfer of funds from Tearfund to Financial Service Provider will be made as follows:

  • 50% for the first tranche of disbursement after contract signing
  • 50% for the second tranche of disbursement three months after the first disbursement and submission of all supporting documents for the first disbursement.

APPLICATION PROCESS
Interested candidates should submit:

  1. A technical proposal, including methodology, modality, approach and work plan.
  2. A financial proposal detailing consultancy fees and expenses.
  3. CV/Company profile of consultants or banks.
  4. Samples of previous relevant work.

Applications should be sent to: nigeria.quotations@tearfund.org and copy
ademosu.hakeem@tearfund.org by 18th of April 2025

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