Invitation to Bid (Property for Sale) at Trustfund Pensions Limited

Trustfund Pensions Limited (Trustfund) is a body corporate licensed by the National Pension Commission (the pension regulatory body) as a Pension Fund Administrator pursuant to the Pension Reform Act 2004. Its sole business is the administration and management of retirement savings (pension funds).

Applications are invited for:

Title: Invitation to Bid - Property for Sale

Preamble
A Pension Fund Administrator offers the under-listed property for outright sale to interested members of the public.

• Property Address: Alagbon Towers, Ikoyi Towers Road, Off Oba Adeyinka Oyekan Avenue, Ikoyi, Eti-Osa Local Government Area, Lagos State
• Title: C of O
• Landsize (SQM): 19,131.600 sqmtrs
• Property Details:
  • 3 Nos of high rise blocks of 24 units three bedroom apartment each with a boys quarter on twelve (12) floors and ancillary ground floor, parking lots, annex.
  • 6 three bedroom flats on three floors.
  • Security and generator house.

Eligibility to Participate

• To participate in the process, an interested party must NOT be one of the persons or entities exempted from purchasing pension assets under Section 89 of the Pension Reform Act, 2014 or any regulation issued by the National Pension Commission (PenCom).
• Bidders are required to complete "Know Your Client" (KYC) forms as part of the bid submission process which shall disclose any further information as may be required.

Bidding Process

• Disposal of the property will be by competitive bidding and will be sold to the highest bidder.
• Bids must be made on standard bidding form and submitted together with duly completed KYC form with a non refundable sum of N500,00.00 (Five Hundred Thousand Naira only) in Certified Bank Draft made payable to Trustfund/Access Pensions Custodian;
• Interested bidders are to collect bid form and KYC forms form the Legal Department of Trustfund Pensions limited, Labour House, Plot 820/821, Central Business District, FCT, Abuja.
• The completed Bid form together with the KYC form must be deposited in a sealed envelope with "Bid for Property" inscribed on the top left corner of the envelope.

Application Closing Date
12:00 noon, 12th May, 2022.

Opening of Bids
All Bids will be opened immediately after the submission deadline at 12:00 noon of 12th of May 2022 at the Board room of Trustfund Pensions Limited, Labour House, Plot 820/821 Central Business District, FCT, Abuja

Submission of Bids
Bids must be addressed and submitted to:
Trustfund Pensions Limited,
Labour House,
Plot 820/821, Central Business District,
FCT - Abuja.

Note

• Bidders and/or their representatives are expected to be present at the bid opening.
• The highest bid for the property will be the winner SUBJECT to the bid being equal to or above the reserved price.
• Not-withstanding as above, the acceptance of the price of the highest bidder shall be subject to the concurrence of the National Pension Commission (PenCom) whose decision in this regard shall be final.
• In the event of two or more bidders having a tie on the highest bid, the said bidders will be requested to make a second bid immediately and the highest bidder among them will be the winner.
• The bids will be announced immediately after opening and bidders and/or their representatives will have the right to scrutinize the results after the exercise.
• Property Inspection
• Interested bidders can contact Trustfund Pensions Limited, Labour House, Plot 820/821 Central Business District FCT, Abuja for guided inspection of the property and further enquiries. The property will be sold on an "as is" basis (in the condition it presently exists).

For Enquiries, send a mail to: adverts@trustfundpensions.com

N/B: Please note that Trustfund Pensions Limited will NOT be liable for any delays due to circumstances outside its control.