Expression of Interest (EOI) - Underwriters for Life Business at the Nigerian Security Printing and Minting Plc (NSPM Plc)

Posted by Kordinichi on Wed 30th Oct, 2024 - nigeriantenders.com


The Nigerian Content Development and Monitoring Board (NCDMB) invites interested Insurance Companies to submit their Expression of Interest (EOI) documents to serve as Underwriters for Life Business. Interested companies should possess relevant qualifications and experience.




At Nigerian Security Printing and Minting Plc (NSPM), we stand at the forefront of excellence in the secure printing and minting industry. With a rich history dating back to our establishment in 1963, we have consistently delivered trusted and innovative solutions in currency production, document security, and secure printing. Our commitment to precision, cutting-edge technology, and uncompromising quality has earned us a well-deserved reputation as a trusted partner for the Central Bank of Nigeria. NSPM is a symbol of trust, security, and expertise. We take pride in safeguarding the integrity of currencies and documents, contributing to economic stability, and building a better, more secure future for our nation and beyond.

We invite interested Insurance Companies registered in Nigeria, to bid as Underwriter, for its insurance activities for the period 2025 and 2026:

Title: Expression of Interest (EOI) for the Underwriters for Life Business

Lot Number: K2
Location: Nigeria

Eligibility Requirements
  • Evidence of Certificate of Incorporation issued by the Corporate Affairs Commission (CAC) including Memorandum and Articles of Association, Form CAC 1.1 or CAC2 and CAC7. Business Name is also acceptable for Brokers;
  • Evidence of Company's Income Tax Clearance Certificate (or Personal Income Tax Clearance Certificate of all the Partners in case of Business Name) Tax Clearance Certificate for the last three (3) years valid till 31st December 2024
  • Evidence of Pension Clearance Certificate valid till 31st December 2024 (this requirement is only applicable to bidders whose number of staff is 15 and above);
  • Evidence of Industrial Training Fund (ITF) Compliance Certificate valid till 31st December 2024 (this requirement is only applicable to bidders whose number of staff is 5 and above or the bidder's annual turnover is N50m and above);
  • Evidence of Nigeria Social Insurance Trust Fund (NSITF) Clearance Certificate valid till 31st December, 2024;
  • Evidence of Registration on the National Database of Federal Contractors, Consultants and Service Providers by submission of Interim Registration Report (IRR) expiring on 31st December 2024 or valid Certificate issued by BPP
  • Sworn Affidavit disclosing whether or not any officer of the relevant committees of the Nigerian Security Printing and Minting Plc or the Bureau of Public Procurement is a former or present Director, shareholder or has any pecuniary interest in the bidder and to confirm that all information presented in its bid are true and correct in all particulars;
  • Evidence of Firm's current registration with the Financial Reporting Council of Nigeria (FRCN);
  • Verifiable documentary evidence of at least five (5) similar jobs executed in the last five (5) years including Letters of Awards, Valuation Certificates, Job Completion Certificates and Photographs of the projects;
Others:
  • Operational Licence issued by NAICOM;
  • Valid and adequate re-insurance Treaty arrangement and;
  • Certified True Copy of Audited Accounts for the last three (3) years-2021, 2022 & 2023 approved by NAICOM;
  • Evidence of minimum shareholder fund of Ten Billion Naira (N10,000,000,000.00) for general business, Eight Billion Naira (N8,000,000,000.00) for Life Assurance and Eighteen Billion Naira (N18,000,000,000.00) for composite Insurance Companies.
Note
  • All documents for submission must be transmitted with a Covering/Forwarding letter under the company/firm's letterhead paper bearing, amongst others, the Registration Number (RC) as issued by the Corporate Affairs Commission (CAC), Contact Address, Telephone Number (preferably GSM No.), and e-mail address. The letterhead paper must bear the names and nationalities of the directors of the company at the bottom of the page, duly signed by the authorised officer of the firm.
  • Any company indebted to NSPM Plc. in respect of all discharged claims as at 31st December 2023 need not apply.
Application Closing Date
Tuesday; 26th November, 2024 (12:00 noon).

Submission of EoI Documents

Complete EOI (1 original, 2 copies) should be packaged in a sealed waxed envelope Boldly Marked, "Name of the Project and Lot No" with t
he Company's name written on the reverse side of the Envelope. The Envelope should then be addressed and submitted not later than 12:00 noon, Tuesday, 26th November, 2024 to:
The Managing Director/Chief Executive,
The Nigerian Security Printing and Minting Plc,
160 Samuel Ladoke Akintola Boulevard,
Garki II, Abuja.


Opening of EoI Documents
  • The EOI documents will be opened immediately after the deadline for submission at 12.00 noon Tuesday 26th November, 2024 at Room 06, 2nd Floor, NSPM Plc. Head Office, 160 Samuel Akintola Boulevard, Garki II, Abuja.
General Information
  • Late submission shall be returned un-opened;
  • All submissions should be arranged and numbered in the order listed above:
  • NSPM Plc shall deal directly with only authorised officers of the interested companies and not through individuals or agents;
  • All costs incurred by the bidders as a result of this application and subsequent request for information shall be borne by the bidder;
  • Bidders can submit through Post (Courier Services).
  • The Bids will be opened in the presence of (Civil Society Organisations) CSOs and Professional bodies;
  • Only shortlisted Firms will be invited at a later date for collection of Request for Proposals (RFP)
  • The NSPM Plc is not bound to shortlist any bidder and reserves the right to annul the procurement process at any time without incurring any liabilities in accordance with Section 28 of the Public Procurement Act, 2007.
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