DEADLINE: 18TH MAY, 2026
NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC)
PLOT 447/448 CONSTITUTION AVENUE, CENTRAL BUSINESS DISTRICT, ABUJA
E-MAIL: info@ndic.gov.ng
WEBSITE: www.ndic.gov.ng
INVITATION FOR EXPRESSION OF INTEREST (EOI) FOR THE PROVISION OF MORTGAGE PROTECTION INSURANCE FOR THE NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC)
(1.0) INTRODUCTION
The Nigeria Deposit Insurance Corporation (NDIC) hereby invites reputable, licensed, and competent Insurance Companies with proven experience in mortgage protection and credit life insurance to submit Expression of Interest (EOI) for the provision of a Mortgage Protection Insurance Policy for the Corporation.
The policy is intended to provide coverage against risks associated with mortgage facilities granted to eligible beneficiaries under the Corporation’s housing loan scheme.
(2.0) SCOPE OF THE COVERAGE
The Mortgage Protection Insurance Policy shall include, but not limited to, the following:
(i) Life Coverage (Death Benefit). A lump sum payout that clears the remaining mortgage debt if the insured passes away, preventing the loss of the property.
(ii) Terminal Illness Benefit: Coverage shall pay off the mortgage if the insured is diagnosed with terminal illness.
(iii) Critical illness Cover: A lump sum or ongoing payments if the insured is diagnosed with covered illness like cancer, heart attack, or stroke.
(iv) Disability/income protection: monthly payment if the insured cannot work due to injury or illness.
(v) Involuntary redundancy/unemployment coverage: optional, short term coverage for mortgage for mortgage repayment if you lose your job.
(vi) Direct payment to lender: MPI to pay directly to settle debts rather than to the beneficiary.
(3.0) ELIGIBILITY CRITERIA
Interested Insurance Companies are required to submit their EOI accompanied by the following
(i) Copy of Certificate of Incorporation with the Corporate Affairs Commission (CAC), including Forms CAC 2 and 7.
(ii) Evidence of valid Insurance Licence issued by the National Insurance Commission (NAICOM).
(iii) Copy of Tax Clearance Certificate for the last three (3) years covering the period of 2023, 2024, 2025 with minimum average turnover of N5 billion.
(iv) Copy of Pension Clearance Certificate (where applicable) valid till 31 December, 2026.
(v) Copy of Industrial Training Fund (ITF) Compliance Certificate (where applicable) valid till 31 December, 2026.
(vi) Copy of Nigeria Social Insurance Trust Fund (NSITF) Clearance Certificate valid till 31 December 2026.
(vii) Detailed Company Profile with the Curriculum Vitae of key staff of the Insurance company. including copies of their Academic/Professional qualifications.
(viii) Copies of prior engagements with public or private sector organisations (where applicable).
(ix) Sworn affidavit disclosing whether or not any officer of NDIC or Bureau of Public Procurement is a former or present Director, Shareholder in the last three years, or has any pecuniary interest in the bidder, and that none of the company Directors was bankrupt or ever convicted of fraud, and that the company is not in receivership and confirm that all the information presented in the bid are true and correct in all particulars.
(x) Company’s Audited accounts for the last three (3) years covering 2023, 2024, 2025.
(xi) For joint venture/partnership, Memorandum of Understanding (MOU) should be provided. For a joint venture (JV) bids, each member of the JV must fulfil requirements (i) to (viii) under eligibility criterion
(xiv) All documents for submission must be transmitted with a forwarding letter on the company/firm’s letter heading, bearing the registration number (RC) as issued by CAC, contact address, telephone number (preferably GSM), and email address. The letter heading must bear the names and nationalities of the directors at the bottom of the page and be duly signed by the authorised officer of the firm.
(4) SUBMISSION OF EXPRESSION OF INTEREST DOCUMENTS
Three (3) bound copies of the Expression of Interest documents should be submitted on or before 11:00 a.m. May, 18 2026 in a sealed envelope, clearly marked:
“Expression of Interest for the Provision of Mortgage Protection Insurance cover for the Nigeria Deposit Insurance Corporation (NDIC)”
The envelope should be addressed to:
Director,
Procurement and Management Services Department
Nigeria Deposit Insurance Corporation (NDIC)
Plot 447/448 Constitution Avenue
Central Business District, Abuja, Nigeria.
(5) CLOSING DATE FOR SUBMISSION
The closing date for submission is May 18, 2026 at 11:00 am. Sealed envelope should bear the name and address of the bidder and be dropped in the designated tender box on the ground floor, waiting room at the NDIC Head Office Building not later than 11:00a.m.
Bidders are required to sign the bid submission register at the Procurement and Management Services Department, 2nd floor, NDIC Head office. The Corporation will not be held liable for misplaced or wrongly submitted documents. For further enquiries please contact info@ndic.gov.ng.
(6) OPENING OF EOI DOCUMENTS
Submitted EOI documents will be opened immediately after the submission deadline at 11:00a.m. May, 18 2026, on the ground floor, Visitors Waiting Room, NDIC Head Office Building, in the presence of bidders or their representatives.
(7) ADDITIONAL INFORMATION
(i) EOIs must be signed by an official authorised by the bidder.
(ii) All documents must be paginated and arranged in the order of sequence detailed under section 3.0 on eligibility criterion
(iii) Due diligence shall be conducted to verify all claims made by bidders. Failure to comply with instructions will lead to disqualification
(iv) Only shortlisted Mortgage Insurer will be invited at a later date for collection of Request for Proposals (RFP)
(v) NDIC is not bound to shortlist any bidder and reserves the right to terminate the procurement process at any stage, in accordance with Section 28 of the Public Procurement Act 2007.
SIGNED
MANAGEMENT
