Request for Aapplication for the Appointment of Insurance Companyies/Brokers to Underwrite Insurance Policies for the Central Bank of Nigeria (CBN)

The Central Bank of Nigeria is proposing the appointment/renewal of Insurance Companies/Brokers to underwrite its Assets and Liabilities. Consequently, the Bank wishes to invite reputable Insurance Companies/Brokers to apply. Interested and competent Insurance Companies/Brokers wishing to carry out the job must submit the following documents:

Request for Aapplication for the Appointment of Insurance Companyies/Brokers to Underwrite Insurance Policies for the Central Bank of Nigeria (CBN)

Mandatory Requirements (Without which Companies will be disqualified)

1. Certified True Copy of Certificate of lncorporation,
2. Certified True Copy of Memorandum & Article of Association,
3. Copy of Forms C02 & C07,
4. Evidence of Registration with NAICOM,
5. Certified True Copy of Tax Clearance Certificate for the last three years,
6. Certified True Copy of three years Company’s Annual Returns to CAC,
7. Certificate of Compliance with PENCOM,
8. Audited Accounts for the past three years certified by NAICOM,
9. Evidence of VAT Registration and Remittances,
10. Evidence of ITF Registration and Remittances,
11. Evidence of NSITF Registration,
12. PAYE and Evidence of Remittances,
13. Comprehensive Company Profile including Ownership Structure, Management Team, Technical/Other Staff, Registered Addresses/Other Contact Details,
14. Evidence of Technical Competence and Relevant Experiences in Similar Projects,
15. Evidence of Financial Capacity and Banking Support,
16. A Statement of Declaration or Affidavit attesting to the fact that none of the bidder’s company Directors/Principal Officers has ever been convicted for any criminal offences/confirmation of Legal Capacity to enter contract.

In addition to the above
(a)  Underwriters are also expected to submit the following;

• Detailed Description of your Understanding of the Scope of Work,
• Evidence of valid reinsurance treaty arrangements,
• Evidence of an identifiable Office in Abuja and at least in three (3) other State Capital,

(b)  Insurance Brokers are also expected to submit the following;

• Detailed Description of your Understanding of the Scope of Work,
• Evidence of Current & Adequate Professional Indemnity Cover,
• Evidence of current membership of NCRIB,
• Evidence that at least a key member of staff is anAssociate Member of NCRIB,
• Evidence of an identifiable Office in Abuja,
• Any other submission that may assist the Bank in assessing the Broker’s capacity.

Closing Date
All submissions must be received at the above Office not later than 12:00 noon September 30th, 2014. Late submission of bids will not be accepted, please.

Submission
Complete documentations should be forwarded in a sealed waxed envelop boldly marked: “Application for Insurance Underwriters OR Brokers for the year 2015 for the Central Bank of Nigeria”, and Addressed to:

The Secretary,
Major Contracts Tenders Committee
2nd Floor Wing C, CBN, Head Office Complex
Central Business District
Abuja, FCT.

Opening
Opening of the received Bids will commence at 1:30p.m on September 30th, 2014 at the CBN, Head Office Complex Auditorium. All Bidders and/or their Representatives, relevant Professional Bodies and NGOs are invited to witness the Opening exercise accordingly.