Request for Proposal (RFP) and Expression of Interest (EOI) - Engagement of Accounting Firms at the Family Homes Funds Limited (FHFL)

Posted by Future on Mon 28th Feb, 2022 -

The Family Homes Funds Limited (FHFL) invites eligible / interested accounting firms to indicate interest by tendering EOI and RFP documents for the following works:

The Family Homes Funds Limited (FHFL) is a social housing initiative promoted by the Federal Government of Nigeria as part of its Social Intervention Programme. The Company is a Limited Liability Company with initial shareholding by the Federal Ministry of Finance and the Nigeria Sovereign Investment Authority. Over the next 4 years, the company aims to invest up to N1.3trn in promoting the development of 500,000 homes for people on low income. In the process, the Company also aims to create up to 1,500,000 jobs.

Applications are invited for:

Title: Request for Proposal (RFP) and Expression of Interest (EOI) for Engagement of Accounting Firms

Ref No:

Family Homes Funds Limited is looking to engage the services of one or more accounting firms with specific technical skills to carry out functions detailed in the scope of work below.

The bids should be submitted in accordance with the specifications, terms, and conditions shown in this Request for Proposals (RfP). Prospective respondents are advised to read this information carefully prior to submitting a proposal.

Scope of Work
As a result of the nature of the services required, the Scope of Work has been divided into LOTs as detailed below and bidders may bid for one or more of the LOTs:

  • Lot 1 - The provision of an independent opinion on the application of the IFRS 9 Financial Instruments Expected Credit Loss impairment provisions computations on the particular business model (and mandate) being operated by Family Homes Funds Limited, and advise on all necessary disclosures in accordance with IFRS 9 Financial Instruments: Disclosures. Aim is to arrive at an ECL model and disclosures that reflect FHFL mandate, facts and circumstances.
  • Lot 2 - Guidance on the accounting treatment of FHFL’s Land Titles acquired in the course of ordinary business. The FHFL business model provides for it to take possession of Land Titles, often as security/collateral against development loans or construction finance for public and private stakeholders. Hence, it is particularly important that these are accurately represented in the organization’s financial statements.
  • Lot 3 - Preparation of financial statements for the closing accounts of a Joint Venture. FHFL’s nature of business may sometimes require entering into Joint Venture partnerships with unique peculiarities. As such, the services of a firm with particular experience in managing the accounting and preparing financial statements for such partnership is required.
Qualification / Eligibility Requirements
Bidders are strongly advised to pay close attention to the requirements listed below:
  • Evidence of registration with the Bureau of Public Procurement (BPP);
  • FIRS Tax Clearance Certificate valid up to December 2021;
  • Company Profile including the following information: name of firm, office address, corporate email of the Firm, and Corporate profile indicating list and profile of key personnel/directors and the organizational structure of the firm;
  • Curriculum Vitae of the key staff to be deployed for the project including copies of their Academic /Professional Qualifications;
  • Verifiable documentary evidence of at least three (3) similar jobs executed in the last five (5) years including Letters of Awards and/or Job Completion Certificates;
  • Conflict of Interest Statement: submit a statement regarding any activities or relationships of the responder that might create a conflict of interest for the responder or FHFL, and, if such activities or relationships exist, a description of the facts, legal implications, and possible effects sufficient to permit FHFL to appreciate the significance of the conflict and react as appropriate.
  • Current sworn affidavit disclosing:
    • That the company is not in receivership, insolvent or bankrupt,
    • That the company does not have any Director who has ever been convicted in any court in Nigeria or any other country for criminal offence in relation to fraud or financial impropriety,
    • Whether or not any FHFL employee or member of the FHFL selection committee is a former or present Director, Shareholder or has a pecuniary interest in the applicant, and - That all documents submitted are true and correct in all particulars.
  • Exceptions: If any, kindly note any exceptions to the eligibility requirements in their entirety.
Application Closing Date
12:00pm, 15th March, 2022.

Submission of Documents
Request for Proposals should be addressed and delivered to:
The Managing Director,
Family Homes Funds Limited,

3rd Floor Sinoki House,
Ademulegun Street,
CBD - (FCT) Abuja.

Please Note
  • Each bidder must submit the technical proposal as a separate document from the financial proposal.
  • Hard copies must also include a USB stick of the proposal.
  • Submissions not sealed will be rejected at the Front Desk.
  • The bidder’s name and the RFP Code must be visible on the outer package of the submissions.
  • Only proposals that fully address the mandatory services listed in the bidding requirement will be evaluated.
  • Due date of submission: 15th March by 12:00pm. Proposals submitted after the stated date and time will be disqualified.
  • Only shortlisted bidders will be contacted.
  • Shortlisted bidders may be invited to make presentations to the evaluation team.
  • For further clarifications and enquiries, please send email to between 28th February 2022 and 4th March 2022. The subject of the email should read "ENQUIRY: RFP/HRADM/0031".
  • Bidders are strongly advised to refer to the RFP No in all correspondences.
  • Nothing herein shall obligate FHFL to award a contract to any responding application.
  • Please note that all envelopes should be marked with the code for this RFP "RFP/HRADM/0031".
Click Here (PDF) for a detailed description of the document.