The Central Bank of Nigeria (CBN) hereby invites the general public to bid for the purchase of its uncompleted Staff Housing Estate situated at Owode, Ibadan, Oyo State. The property covers a total land area of 24.262 hectares with the following uncompleted structures:
a) 2 No. 4 bedroom, semi- detached duplexes with boys quarters (4units)
b) Three (3) Blocks of flats each containing 8-number 3-bedroom flats with boys quarters.
c) Four (4) Blocks of flats each containing 6 number of 3 bedroom flats without boys quarters.
d) Six (6) Blocks of flats each containing 6 number of 2 bedroom flats without boys quarters.
e) 1No. Generator House
f) 1No. Club House
TERMS AND CONDITIONS OF SALE
1. The Bank has an unexpired term of sixty-three (63) years of a ninety-nine (99) years sublease granted by the Oyo State Housing Corporation in June 1980.
2. The property would be sold as a whole “as is, where is” basis to the highest bidder.
3. All bids must be submitted with bid bond by way of bank draft from any designated bank, equal to ten percent (10%) of the bid value in favour of Central Bank of Nigeria. Ail bids without a bid bond stand disqualified.
4. The highest bidder shall be declared the winner. In the contingent case the highest bidder defaults, the second highest bidder will be Reserved winner; with the bid bonds being retained and treated as non-refundable ten percent deposit. All other bids shall be returned to the unsuccessful bidder(s).
5. Strict compliance with development control land use must be adhered to by all purchasers in line with the conditions of grant of the lease.
6. The purchaser will be liable for any outstanding liabilities on the property due to Oyo State Housing Corporation.
7. The buyer/purchaser will be responsible for the cost of transfer of the title.
8. Future transaction on the property after transfer of title shall be between the buyer and Oyo State Housing Corporation.
PAYMENT TERMS AND CONDITIONS:
1. 25% (10% non-refundable fee inclusive) of the total cost must be paid to CBN within a 60 day period.
3. A balance of 75% must be paid by the successful bidder within an additional 60 day period.
4. Where the highest bidder fails to comply with the terms of sale, the bid bond of highest bidder will be forfeited, and the second highest bidder (“the reserved winner”) shall be invited to complete the transaction.
5. If the Reserved winner fails to comply with the terms of sale, the reserved winner’s bid bond shall also be forfeited.
INSPECTION OF THE PROPERTY
All interested bidders are advised to contact The Branch Controller, Central Bank of Nigeria, Ibadan, for inspection of the property before submitting their bids.
SUBMISSION OF BIDS
Bids should be submitted in sealed envelope marked “Bid for the purchase of CBN Owode Estate, Ibadan” at the top left hand corner of the envelope and address to:
Major Contracts Tenders Committee
2nd d Floor, Wing B
Central Bank of Nigeria, Head Office,
CLOSING AND OPENING OF BIDS
All bids should be submitted within a six week period from the date of this advert to the above address. Bids shall be opened one week after the expiration of the six week period.
For further information, please call: 07002255226