Expression of Interest (EOI) at Nigerian Electricity Regulatory Commission
Nigerian Electricity Regulatory Commission
Adamawa Plaza Plot 1099 First Avenue off Shuehu Shagari Way, Central Business District, PMB 136, Garki, Abuja
Expression of Interest (EOI) for the Engagement of Professional Accounting Firms to Undertake on a Continuous Basis the Review of Financial and Accounting Records of License Utilities
Background
The Nigerian Electricity- Regulatory Commission (‘NERC’/ ‘Commission’) is the independent regulatory agency established by the Electric Power Sector Reform (EPSR) Act 2005 and officially mandated, amongst other things, to ensure sound financial health of the licensed utilities in the Nigerian Electricity Supply Industry (NESI). This is with a view to ensuring their continuous their continuous operations as going concern entities thereby guaranteeing adequate security of electricity supply for the economic growth of the nation.
Following the successful completion of the privatization of PHCN successor companies and their subsequent taken over by the core private investors, the Commission is now focusing on executing its responsibility for monitoring and reviewing the financial and accounting performance of its licensed utilities. This enables the Commission to ascertain the financial health of the utilities, in addition to determining the propriety of any request for a tariff adjustment.
Objectives
The objective of this exercise is to select competent and experienced professional accounting firms to undertake on a continuous basis, the review of the financial and accounting records of the licensed utilities with a view to providing an independent opinion on their financial status.
Eligibility Criteria
Each of the successful professional accounting firms shall from time to time be assigned to review the financial and accounting records of a given distribution licensee and provide accordingly an independent opinion. This shall not be an external audit as required under the Companies and Allied Matters Act (CAMA); but rather a review for compliance with relevant NERC licensing and regulatory requirements. Principal partner’s experience of fifteen (15) years post-professional qualification is required. Pre-qualification of professional firms for tender shall be based on the Quality and Cost Selection (QCBS) method. However, short-listed firms shall be required to provide evidence in support of their technical capability at the Request for Proposal (RfP) stage in line with the Public Procurement Act (PPA) 2007, Pension Reform Act (PRA) 2004 and Financial Reporting Act (FRC) 2011 as follows:
i. Certificate of registration with Corporate Affairs Commission (CAC)
ii. Company’s Tax Clearance Certificate (TCC) for the last 3 years (2011-2013)
iii. VAT registration certificate
iv. Evidence of compliance and remittance of pension contribution
v. Evidence of registration with the Financial Reporting Council of Nigeria (FRCN)
vi. Availability of the appropriate key personnel for the assignment with their CV’s
vii. Verifiable documentary evidences (award letters, contract agreements etc) of similar jobs successfully executed within the last three years.
viii. Comprehensive firm profile reflecting professional capacity with address, mobile phone and e-mail contacts.
ix. Evidence from the company’s bankers with regard to the firm financial capacity to undertake the project, if successful.
x. A Sworn Affidavit of Disclosure stating whether or not any of the officers of
NERC, Distribution Licensees or Bureau of Public Procurement (and if so, the name of the officer) was a former or present employee of the firm.
xi. Evidence of registration and compliance with Industrial Training Fund (ITF)
Submission of Expression of Interest
Detailed terms of reference for the exercise shall be made available upon being shortlisted. Expression of interest must be submitted in three (3) hard copies with one (1) original, on or before 12.00 noon on Wednesday 21st May, 2014 with the inscription on the top left corner of the envelopes: “Expression of Interest for … (Engagement of Professional Accounting Firms to Review Financial and Accounting Records of Licensed Utilities)” EOI must be dropped into the tenders’ box in the Commission’s Secretariat at Room 203 2nd Floor Adamawa Plaza.
Alternatively, further information can be obtained at the Procurement Unity Room 112 First Floor Adamawa Plaza Plot l099 CBD Abuja from 9:00am to 4:00pm Monday to Friday.
The Commission is not bound to short-list any professional accounting firm and reserves the right to annul the bidding process at any time without incurring any cost or assigning any reason thereof.
Signed:
Management
