DEADLINE: 16TH JULY, 2025
ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
REQUEST FOR BIDS FOR THE ACQUISITION (ENTIRE LOT) OF LOCK UP SHOPS AND APPURTENANCES AT INTERNATIONAL MARKET OBA, ANAMBRA STATE
1. BACKGROUND
The development and construction of International Market, Oba Anambra State (the market) was hitherto funded via non-performing loans extended to Bukham Nigeria Limited (In Receivership) which became part of an Eligible Bank Assets (EBA) under ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)’s portfolio acquired pursuant to AMCON’s statutory powers and mandate under the AMCON Act (as amended).
The market was acquired through a Loan Purchase and Limited-Service Agreement between AMCON and United Bank for Africa (UBA) which transferred to AMCON, the loan rights and the assets charged, mortgaged or pledged as security with respect to the unpaid debts of Bukham Nigeria Limited (In Receivership) owed UBA. We are desirous of selling the market “AS IS”
2. DESCRIPTION AND LOCATION OF INTERNATIONAL MARKET OBA, ANAMBRA STATE
The market is located along the Onitsha-Owerri Expressway (KM 59) adjacent to the 2nd Niger Bridge Interchange/Landing at Oba, Idemili South Anambra State. It is located with proximity to major economic hubs like Onitsha and Nnewi and strategically borders the Federal Government-backed Coordinated Wholesale Center (CWC) for Pharmaceutical Products in Anambra State. The following are available for sale within the market:
A. 1,280 Units of completed lock-up shops
B. 320 Units of uncompleted shops
C. Open parking spaces
3. 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
iii. Individuals must not be an AMCON employee, a relative of an AMCON employee or member of the Board of AMCON
4. MODE OF APPLICATION AND REQUIREMENTS
Interested buyers of the market should send their bids to the Nominee RECEIVER/MANAGER’s office location at No 46/47 Limca Road (C/O Emefiena B. Ewulum & Co.) Nkpor, Anambra State, Nigeria on or before Wednesday July 16th, 2025, indicating the offer price for the market. The profile of the buyers should be included, and it should contain their certificate of incorporation and the relevant company registration documents showing details of the company directors, shareholders and ownership structure. The contact details, office and contact address, including telephone numbers and e-mail addresses, should be provided.
5. INSPECTION OF THE MARKET
Bidders are encouraged to visit the market between the date of this publication and Wednesday July 16, 2025, before submitting their bids.
6. PROCEDURE FOR THE SUBMISSION OF BIDS
Bids must be submitted in a sealed envelope with one original and 5 copies duly signed by the authorized representatives of the applicants and delivered alongside 10% of the bid amount (non-refundable in the event of a successful bid) certified and Bank Drafts payable to the Asset Management Corporation of Nigeria (AMCON) or evidence of the transfer of 10% of the bid sum to AMCON via Remita Platform
7. EVALUATION OF BIDS
i. The market will be offered to the highest bidder(s) subject to the bid being higher or equal to AMCON’s Reserve Price.
ii. Bids must comply with all Governments statutory requirements and financial regulations including KYC forms
iii. Full payment must be made within 30days of the receipt of notification of the success of the bid.
iv. The market is sold “as is” and no warranty or guarantee is given on the condition of the market.
8. NOTIFICATION OF RESULTS
Successful bidders (s) will be informed in writing. If the need arises, communication may be made to multiple bidder(s) on the basis of first to pay.
SIGNED
The Receiver
PASCHAL OKPALAELECHI ESQ
9 Portharcourt Crescent, Off Gimbiya Street, Garki, Area 11, Abuja-FCT
Email: indepthsolicitors1@gmail.com
