Implementation of IFRS

• Country: Nigeria
• Summary: Implementation of IFRS
• NGT Ref No: 54180930
• Deadline: 05 Jul 2021
• Financier: Self Financed
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.:
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• Description:
• Tenders are invited for Implementation of IFRS 17 (Insurance Contract) for the Corporation. The Nigerian Agricultural Insurance Corporation Abuja in compliance with Procurement Act (PPA 2007) invites reputable firms/companies with proven records of accomplishment to express interest for the consultancy job for implementation of IFRS 17 (insurance contract) for the Corporation in line with NAICOM requirement. SCOPE OF SERVICE The qualified consultant will perform the following: a. Perform IFRS 17 gap analysis and impact assessment. b. Perform financial and operational impact assessment. c. Design and implement project plan covering technical, financial, actuarial, business, information technology processes. d. Implementation updates and project status report to National Insurance Commission (NAICOM). e. Education key stake-holders on new accounting policies, choices and proforma financial statements. f. Produce parallel IFRS 17 statement of financial position as at 31st December 2021. g. All other IFRS 17 regulatory requirements by NAICOM for insurance industry as it relates to NAIC. ELIGIBILITY REQUIREMENTS a. Verifiable Certificate of incorporation issued by Corporate Affairs Commission (CAC). b. Verifiable evidence of Tax Clearance Certificate for the last three years 2018, 2019, 2020 valid till 31st December, 2021 corresponding to declared turnover. c. Verifiable current Industrial Training Fund (ITF) compliance certificate valid till 31st December, 2021. d. Verifiable current Pension Compliance Certificate valid till 31st December, 2021. e. Verifiable current NSITF compliance certificate valid till 31st December, 2021. f. Evidence of registration on the National Data base of Federal Contractors, Consultants and service providers by submission of Interim Registration Report (IRR) expiring on or valid certificate issued by BPP. g. A Sworn Affidavit : - disclosing whether or not any officer of Nigerian Agricultural Insurance Corporation is a former or present Director, shareholder or has any pecuniary interest in the bid and that all the information provided in its bid are true and correct in all particulars. - That no director of the firm has been convicted by any court of law. - That the firm is not bankrupt or in receivership. h. current company-s audited account duly stamped and signed by licensed Auditors for the last three years (2018, 2019, 2020). i. Verifiable list of successful executed similar job for insurance underwriter at least three (3) in the last five years including letters of awards and certificates of practical job completion. j. Evidence of financial capability to execute the project by submission of Reference letter from a reputable commercial bank in Nigeria, indicating willingness to provide credit facility for the execution of the project when needed. k. Proposed free structure. l. A comprehensive company profile to include at least three key personnel with their curriculum vitae and staff ID, also with certificates of Academic and Professional qualification. m. Registration with relevant professional bodies and licence to practice. n. For joint venture/partnership, Memorandum of Understanding (MoU) should be provided (CAC, Tax Clearance Certificate, Pension Compliance Certificate, ITF Compliance Certificate, NSITF Compliance Certificate, IRR and Sworn Affidavit are compulsory for each JV partner. o. Any other information that would further enhance chances of shortlisting the company. p. All documents for submission must be transmitted with a covering/forwarding letter under the Company/Firm-s letter Head paper bearing amongst other, the Registration Number (RC) as issued by the Corporate Affairs Commission (CAC), Contact Address, Telephone Number (preferably GSM No) and e-mail address. The letter Head paper must bear the Names and Nationalities of the Directors of the company at the bottom of the page, duly signed by the authorized officer of the firm. NOTE: Arrangement of the technical documents in hard and soft copies should follow the order in the list above and appropriately paged. The technical documents should have a table of content indicating the pages on which these items are to be found. SUBMISSIONS OF EXPRESS OF INTEREST EOI with supporting documents (2 copies) should be neatly bound and sealed in an envelope showing the company-s name, particulars and name of the project and should be dropped into the tender box at the Corporation-s Admin Department General Office not later than 12:00 noon on Monday 5th July,2021. The completed packaged should be addressed to: The Managing Director Nigerian Agricultural Insurance Corporation Plot 590 Zone A.O Central Business District, Abuja.
• Documents:

 Tender Notice