AMCON
PROPERTIES FOR SALE

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

LAGOS PROPERTIES

S/NPROPERTY ADDRESSLAND SIZEPROPERTY DETAILS
1Undeveloped land at LekkiEpe expressway. Abijo in IbejuLekki Local Govt Area, Lagos116,807.21sqmProperty is an undeveloped and measuring approximately 116,807.21sq located along Lekki-Epe Express way Abijo in Ibeju, Lekki L.G.A Estate.
236Cappa Street, Palmgrove, Lagos2,697.80sqmThe property is situated at Cappa Avenue Estate,Palmgrove Lagos, a predominantly residential precinct The Property comprises 2 wings of 4 Bedroom duplex with 3 room boys quarters.
3Undeveloped and measuring 8.093.71sqmat 6/7 Orile Coker Estate along Lagos-Badagry Expressway8,093.71sqmProperty is an undeveloped and measuring approximately 8.093.71sqmat 6/7 Orile Coker Estate along Lagos-Badagry Expressway

ANAMBRA & ABIA PROPERTIES

S/NPROPERTY ADDRESSLAND SZEPROPERTY DETAILS
1No. 28 Nipor/ Umuoji Road NkporIdemili LGA Anambra State885.65sqmDevelopment on site is a block of 6 units of 3 bedroom flats on a land area of approximately 885.65sqm
2No. 6 idsaniStreet, Omagba Phase 1 Onitsha, Anambra State520.82sqm Development on site are a block of units of 3-bedroom flats and a block of 3 units 1 bedroom servant quarters all on a land area of approximately 520 82 sqm
No. 74Modebe Avenue, Odoakpu Onitsha488.4sqm Development is a 5 storey structure comprising 10 units of 3 bedroom flats, 2 units of boys’ quarters and Warehouses on the ground floor, all on a site area of approximately 488.4sqm
4No. 40 Umuocham Road, Aba, Abia State1,3545sqm Development is a corner piece property comprising a main building which houses an eatery with a lounge and private rooms and rear building consisting of 3 units 4-bedroom terrace houses alon a land area measuring about 1,354.50sqm

ABUJA PROPERTY

S/NPROPERTY ADDRESSLAND SIZEPROPERTY DETAILS
118,384.18sqm at Plot 748 Cadastral ZoneCoo, Institution and Research District Jabi Abuja  Institution and Research District Jabi Abuja 18,384.18sqmProperty is an undeveloped parcel of land located at Plot 748, Cadastral Zone C00, Institutions and Research District, Abuja. It measures approximately 18,384.18 sqm

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; Directors of interested companies must not be Indebted to AMCON; and
ii. Individual must not be an AMCON employee, a relative of an AMCONemployee 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, OsyKamalu& Associates: 09051331416, 08030274306. 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; osykarmaluassociates@gmail.com or osykamalusgency@gmail.com
iii. Bid forms must be submitted alongside 10% of the bid amount in CertifiedBank 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 10 Millionmultiple 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 comer of the envelope.
v. The Certified Bank Draft and transferred funds of unsuccessful bidders will be 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 15 calendar days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the property can be different to other buyers,
vii. Bids cannot be withdrawn or canceled once submitted.

SUBMISSION OF BIDS LAGOS:
i. Bids for properties located in Lagos 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 Thursday, March 5, 2020
iii. All bids submitted in Lagos will be opened at the AMCON office where the bids were submitted at 1.00 pm Thursday, March 5, 2020

SUBMISSION OF BIDS ABUJA:
i. Bids for properties located in Abuja, Anambra&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

ii. The deadline for the submission of bids is 10:00am Friday, March 6.2020
iii. All bids submitted in Abuja will be opened at the AMCON office where the bids were submitted at 11:00am Friday, March 8 2020

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, OsyKamalu & 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.ngor email AMCON at amcon.disposals@amcon.com.ng
SIGNED:
The Secretary, Asset Sale & Negotiation Committee
417, Tigris Crescent OffAguiyiIronsi 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 the prospective buyer’s account