REQUEST FOR APPLICATION FOR THE APPOINTMENT OF STATUTORY AUDITORS
1. INTRODUCTION
NIGERIA DEPOSIT INSURANCE CORPORATION is a Federal Government Agency which was established under NDIC Decree No. 22 of 1988 now repealed and amended as NDIC Act No. 16 of 2006. It was statutorily designed to achieve the public policy objectives of protecting small depositors in deposit-taking Financial Institutions and contributing to financial system stability in Nigeria.
The Corporation has a mandate to guarantee payment to depositors of insured Universal Banks, Micro-Finance Banks and Primary Mortgage Institutions up to the maximum amount in the event of failure. It also supervises the insured banks to protect depositors, ensure monetary stability, promote an effective payment system and competition in the banking system. Supervision seeks to reduce the risk of failure while ensuring that unsafe and unsound practices are minimized.
The Corporation’s Head Office is situated in the Central Business District of Abuja, Federal Capital Territory with our offices in Lagos, Benin-City, Enugu, Kano, Bauchi and Ilorin.
The Corporation’s funds are derived from the premiums collected from the insured financial institutions and interest income generated from the investment of such insurance premiums.
In compliance with the Office of the Auditor General for the Federation’s Guidelines on the appointment of auditors to audit the accounts of federal government parastatals, agencies and commissions ON CIRCULAR No. 1212/2008/CONF/VOL.1/1 dated 28th October, 2008, applications are hereby requested from suitably qualified and experienced audit firms of international repute to serve as the Corporation’s External Auditors.
2. THE IDEAL AUDITING FIRMS’ PROFILE SHOULD INCLUDE AMONG OTHERS:
1. Not less than 20 years auditing experience of reputable organizations, particularly in Universal Banks.
2. Company profile and organizational structure including the names and resumes of Partners and Key Senior Personnel.
3. Evidence of Branch offices across the nation particularly Abuja and Lagos.
4. Tax Clearance Certificate for the last three (3) years of the partners.
5. Verifiable evidence of previous/similar audit exercise carried out in the recent past on Universal Banks and related finance industry.
6. Evidence of registration with the Office of the Auditor General for the Federation as a practicing Audit Firm.
7. Proof of registration with the National Pension Commission and evidence of remittance of employees’ pension contributions/ deductions.
8. Evidence of partnership/affiliation with a foreign firm if any and attestation letter from such reputable/experienced firm with track history of uninterrupted business in auditing.
9. Information about how you intend to charge audit fees.
3. METHOD OF APPLICATION:
If your auditing firm meets the above requirements, your application should be submitted to:
The Managing Director/Chief Executive
Nigeria Deposit Insurance Corporation
Plot 447/448 Constitution Avenue
Central Business District
P. M. B. 284, Garki
Abuja
4. PLEASE NOTE:
1. All applications should be received within two (2) weeks from the date of this advertisement.
2. Due diligence would be followed in the short-listing exercise as all documents submitted in respect of your auditing firm would be verified.
3. Only shortlisted candidates/firms will be invited for interview.
MANAGEMENT