Expressions of Interest for Liquidation of NEPA Superannuation Fund Limited at The Bureau of Public Enterprises (BPE)
The Presidency
Federal Republic of Nigeria
National Council on Privatisation
Secretariat: Bureau of Public Enterprises
Liquidation of Nepa Superannuation Fund Limited
Request for Expressions of Interest
As part of the on-going reform and privatisation of the Nigerian power sector; and its strategy for ensuring that the activities of the defunct Power Holding Company of Nigeria (PHCN) are fully wound up, the Federal Government of Nigeria (FGN) has approved the liquidation of the NEPA Superannuation Fund Limited. This is expected to pave the way for the realisation of all verified, residual assets and settlement of liabilities coming into the fund’s liquidation account in line with best standards. This is expected to be implemented by an experienced Liquidator in conjunction with the Bureau of Public Enterprises and other relevant stakeholders in the power sector.
NEPA Superannuation Fund Limited was established in 2005 as a separate legal entity, incorporated under Nigeria’s Companies & Allied Matters Act No.1 of 1990 (as amended 2004). The objects of the Fund are to, among other things, keep proper records of pensions and other accrued benefits of the former employees of the defunct Power Holding Company of Nigeria; and settlement thereof. The PHCN Successor Companies were recently privatised, followed by settlement of staff entitlements; and completed transfer of stranded, non-core assets and residual liabilities to the Nigeria Electricity Liability Management Company (NELMCo) Ltd./Gte.
The Bureau of Public Enterprises (BPE) is the Secretariat of the National Council on Privatisation (“NCP “V”/the Council”), and is statutorily saddled with the responsibility of undertaking all privatisation and commercialisation programmes in Nigeria, including all requisite reform activities. The BPE operates within a Policy Framework envisioned in the Public Enterprises (Privatisation and Commercialisation) Act 1999. The Bureau, acting on the mandate of the NCP, therefore wishes to engage a Liquidator to assist it in winding up of NEPA Superannuation Fund Limited.
The Bureau anticipates that the Liquidator (preferably a Chartered Accountant) will work with other professionals that have the following background:
- Legal Expert
- Reporting Accountant
- Estate Valuer
- Recovery Consultant
The preferred Liquidator will interface with the NCP’s Committee on the sale of PHCN Non-Core Assets and the Bureau of Public Enterprises.
Submission of Expressions of Interest (EOI)
Expressions of Interest from prospective Liquidators should clearly specify the following information, as bases for pre-qualification:
- Profiles of the prospective Liquidator and other professionals who will work with him on the assignment, including evidences of relevant qualifications and individual experiences in handling similar assignments in Nigeria and other developing economies.
- Possession of at least fifteen (15) years of relevant experience, including proven track records in similar liquidation assignments locally, internally and in countries of comparable development as Nigeria.
- Intended approach to handling the assignment (Workplan and proposed timelines)
- Financials – Audited Financial Statements for three most recent years (2011 – 2013)
- Tax Clearance Certificate (TCC) of each consortia members and VAT Registration of professional practices they belong
- Evidence of compliance with Pension Reform Act 2004 of the professional practices the consortia members belong
- Evidence of compliance with the ITF (Amendment) Act 2011.
- Evidence of registration with relevant Authorities, e.g. Financial Reporting Council, NIEVS, etc.
Upon receipt of Expression of Interest, the applicants will be evaluated. Thereafter, pre-qualified applicants will be issued Request for proposal (RFP). Only pre-qualified applicants will be contacted.
EOIs must be submitted in five (5) original copies and 1 CD ROM, clearly marked “Expressions of Interest for Liquidation of NEPA Superannuation Fund Limited”. The EOIs should be addressed and delivered by hand not later than 5pm on Wednesday, 18th March 2015 at the address below:
The Director General
Bureau of Public Enterprises (The Presidency)
11, Osun Crescent, off IBB Way
Maitama District, Abuja, FCT
Attn.: Dr. Vincent Akpotaire (Secretary, NCP Committee on Sale of PHCN Non-Core Assets
DL: +234 94604429;
Tel.: +234 9 4134636-46
Website: http://www.bpeng.org
Please note that further information regarding the EOIs may be obtained from the address above from Monday to Friday between 9am – 5pm, (except public holidays). Only shortlisted Liquidator will be contacted and issued Request for Proposals (RFPs) upon payment of the prescribed Fees.
All EOIs received after the stated deadline or through e-mail will be immediately disqualified.
