Privatisation: FG Approves Bid Opening for Transaction Advisers for BOI, BOA, NCX

BPE’s spokesman, Mr. Chigbo Anichebe

James Emejo in Abuja

The National Council on Privatisation (NCP) has approved the Financial Bid Opening for transaction advisers for the partial privatisation of the three Development Finance Institutions (DFIs) namely, Bank of Agriculture (BOA), Bank of Industry (BOI) and Nigeria Commodity Exchange (NCX), formerly Abuja Securities & Commodity Exchange (ASCE).

The NCP at its last meeting in Abuja, also directed the Bureau of Public Enterprises (BPE) to immediately invite the pre-qualified bidders that met the benchmark scores of 75 per cent in the evaluation to proceed to the Financial Bid Opening Stage.

For the BOA, the BPE was directed to invite Banca Leonardo Consortium (Germany), Barclays Consortium (Nigeria), CPCS Consortium (Barbados) and PWC Consortium (Nigeria) for the Financial Bid Opening after which the contract would be awarded to any of the consortia adjudged to have made the best offer on quality and cost based selection guidelines of the World Bank.

Similarly, council directed the BPE to invite CPCS Consortium (Barbados), BDO Consortium (UK) and Barclays (South Africa) that emerged pre-qualified bidders for BOI to participate in the Financial Bid Opening and the company with the best offer on quality and cost based selection guidelines of the World Bank awarded the contract.

For the NCX, Banca Leonardo Consortium (Germany), United Capital Consortium (Nigeria), CPCS Transcom Consortium (Barbados) and BGL Consortium (Nigeria) are to participate in the Financial Bid Opening and at the end, the company adjudged to have made the best offer on quality and cost based selection guidelines of the World Bank awarded the contract.

The NCP had at its meeting in December 2014, considered the recommendations made by its Technical Committee (TC) and approved the report of the evaluation of EOIs for the proposed engagement of transaction advisers for the three transactions for the three DFIs.

Following the NCP directive, the BPE in December 2014, sent Requests for Proposal (RFPs) to the six shortlisted  advisers for the partial privatisation of BOA, namely; Banca Leonardo Consortium (Germany), Greenstatos Consortium (India), CPCS Consortium (Barbados), PricewaterhouseCoopers Consortium (Nigeria), Barclays Vetiva Consortium (South-Africa) and Genesis Consortium (South-Africa) which were shortlisted.

At the deadline set forth in the RFP, five of the consortia submitted technical and financial proposals which were evaluated by a team in line with the evaluation criteria.

The consortia are as follows: Banca Leonardo Consortium (Germany), Barclays Consortium (Nigeria), CPCS Consortium (Barbados), PWC Consortium (Nigeria) and Greenstratos Consortium (India).

In the same vein, the BPE in line with the council’s directives, sent RFPs to the six advisers that were shortlisted at the EOI stage for the partial privatisation of BOI on December 19, 2014.

These include CPCS Transcom Consortium (Barbados), PWC Consortium (Nigeria), Banca Leonardo Consortium (Germany), BDO Consortium (United Kingdom), FBN Capital Consortium (Nigeria), and Barclays Vetiva Consortium (South Africa).

At the deadline set forth in the RFP, CPCS Transcom Consortium (Barbados), Banca Leonardo Consortium (Germany), BDO Consortium (United Kingdom), FBN Capital Consortium (Nigeria) and Barclays Vetiva Consortium (South Africa). After evaluation, these consortia emerged: CPCS Consortium (Barbados), BDO Consortium (UK), Barclays Consortium (South Africa), FBN Capital Consortium (Nigeria) and Banca Leonardo Consortium (Germany)-all submitted technical and financial proposals as advisers for the partial privatization of BOI.