CENTRAL BANK OF NIGERIA
www.cbn.gov.ng
REQUEST FOR APPLICATION FOR THE APPOINTMENT OF INSURANCE COMPANIES/BROKERS TO UNDERWRITE INSURANCE POLICIES FOR THE CENTRAL BANK OF NIGERIA
(1.0) INTRODUCTION;
The Central Bank of Nigeria (CBN) invites interested Insurance Companies and Brokers registered in Nigeria, to bid as Underwriter or Broker for its insurance activities for the period 2021/2022.
(2.0) ELIGIBILITY REQUIREMENTS:
(2.1) MANDATORY REQUIREMENTS
Interested and competent vendors wishing to tender for the above must submit the following documents for verification:
(i) Evidence of Registration with Corporate Affairs Commission (CAC) namely; Certificate of Incorporation, and Certified True Copy of the Memorandum and Articles of Association including Forms C02&C07
(ii) Company Tax Clearance Certificate for the last three (3) years 2017, 2018 and 2019 (Expiring on 31 December 2020) Receipts are not acceptable
(iii) Certified True Copy of three (3) years Company’s Annual Returns to CAC
(iv) Certificate of Compliance issued by the National Pensions Commission (PENCOM) as evidence of fulfilling Employer’s obligation to Employees with respect to Pension (Expiring on 31 December, 2020)
(v) Current Industrial Training Fund (ITF) Compliance Certificate expiring on 31 December, 2020
(vi) Evidence of Registration with the Financial Reporting Council of Nigeria (FRCN)
(vii) Evidence of Registration on the National Database of Contractors, Consultants and Service Providers by submission of an Interim Registration Report (IRR) expiring on 31 December, 2020 or valid Certificate issued by the Bureau of Public Procurement (BPP)
(viii) Employees’ Compensation Scheme (ECS) Compliance Certificate issued by the Nigeria Social Insurance Trust Fund (NSITF) expiring on 31December, 2020
(ix) Current sworn affidavit disclosing:
(a) That the company is not in receivership, insolvent or bankrupt
(b) 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
(c) Whether or not any officer of the relevant committee of the Central Bank of Nigeria or the Bureau of Public Procurement (BPP) is a former or present Director, Shareholder or has any pecuniary interest in the bidder
(d) That all documents submitted for the bidding are true and correct in all particulars
(x) Audited Accounts for three (3) years certified by NAICOM
(xi) Evidence of VAT Registration and Remittances
(xii) Evidence of NSITF Registration
(xiii) PAYE and Evidence of Remittances
(xiv) Comprehensive Company Profile including Ownership Structure, Management Team, Technical/Other Contact Details
(xv) Evidence of Technical Competence and Relevant Experiences in Similar Projects including letters of award
(xvi) Evidence of “No Objection” received from NAICOM to proceed with recapitalization plans.
(2.2) ADDITIONAL REQUIREMENTS
(2.2.1)Underwriters are also expected to submit the following:
(a) Detailed Description of Understanding of Scope of Work
(b) Evidence of valid Reinsurance treaty arrangements
(c) NAICOM Practicing License as an Underwriter
(d) Evidence of verifiable Office in Abuja and at least in ten (10) other State Capitals
(e) Reference letter from a Bank stating the financial ability of the Underwriter
(f) 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 AND whether or not any Officer of the Central Bank of Nigeria or Bureau is a former or present Director or has any pecuniary interest in the Company
(2.2.2) Insurance Brokers are also expected to submit the following:
(a) Detailed Description of Understanding of the Scope of Work
(b) Evidence of Professional Indemnity Cover
(c) Current NAICOM Operating License as a Broker
(d) Evidence of a verifiable Office in Abuja and any 2 other State Capitals
(e) Any other submission that may assist the Bank in assessing the Broker’s capacity.
(3.0) SUBMISSION:
Complete documentations should be forwarded in a sealed waxed envelop Boldly Marked:
“Application for Insurance Underwriter or Broker for the year 2021/2022 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 Nigeria
Phone: 07080650457
E-Mail: mctc@cbn.gov.ng
Furthermore, the reverse of each sealed envelope should bear the name, office address, domain email address and functional phone number of the vendor.
(4.0) CLOSING DATE:
All submissions must be received at the above Office not later than 12:00 noon on Wednesday 14, October, 2020.
(5.0) OPENING DATE:
The submitted documents will be opened immediately after the deadline for submission at 2:00pm on Wednesday, 14 October, 2020 at the auditorium Lobby, Central Bank of Nigeria Head Office, Central Business District, Abuja.
(6.0) IMPORTANT NOTICE
(a) The presence of bidders/representatives shall not be required during the opening of the submissions. Rather, the event shall be covered by video recording to enhance transparency and for record purpose in compliance with COVID-19 Guidelines.
(b) Documents can also be submitted through Post (Courier Services) for companies with no physical presence in the Federal Capital Territory.
(c) Nothing in the advert shall be construed to be a commitment on the part of the CBN.
(d) Only the successful company (s) will be notified formally.
SIGNED
MANAGEMENT
CENTRAL BANK OF NIGERIA
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