ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
PROPERTIES FOR SALE

The Asset Management Corporation of Nigeria (AMCON) in fulfilment of its objectives and exercise of its statutory duty of efficiently resolving Eligible Bank Assets purchased from various eligible financial institutions in Nigeria, offers the following properties for sale to interested members of the public. Further details of the properties available for sale, can be found on the following website: www.amcon.com.ng

ELIGIBILITY TO PARTICIPATE:
To participate in the process, an interested party must meet the following criteria:
(i) Individual/Corporate entity must not be indebted to AMCON;
(ii) Directors of interested companies must not be indebted to AMCON; and
(iii) Individual must not be an AMCON employee, a relative of an AMCON employee or member of the Board of AMCON.

BIDDING PROCESS:
(i) A competitive bidding process has been adopted for the disposal of the properties.
(ii) Bid forms are available from the coordinating agent, Osy Kamalu & Associates: 09051331416, 08036274306. Alternatively, they can be downloaded from AMCON’s website www.amcon.com.ng under Asset Disposal – Assets for Sale or requested by emailing amcon.disposals@amcon.com.ng; osykamaluassociates@gmail.com or osykamaluagency@gmail.com
(iii) Bid forms must be submitted alongside 10% of the bid amount in Certified Bank Drafts payable to the Asset Management Corporation of Nigeria or evidence of the transfer of 10% of the bid sum to AMCON via the Remita platform, details of which are provided with the bid forms. Where bank drafts are provided, please note that if the deposit sum exceeds N10million multiple certified bank drafts must be provided.
(iv) The bid submission must be made in a sealed envelope with “Bid for Property” inscribed on the top left corner of the envelope.
(v) The Certified Bank Drafts and transferred funds of unsuccessful bidders will be refunded once the bidding process is concluded.
(vi) The successful bidder will be required to pay the 90% outstanding balance of the bid price within 15 calendar days of the bid submission deadline, failing which the 10% deposit becomes non-refundable and the property can be offered to other buyers.
(vii) Bids cannot be withdrawn or cancelled once submitted.