BPP Demands Equipment Leasing Agreement Registration Certificate From Bidders

The Bureau of Public Procurement (BPP) has directed bidders in public procurement processes involving leased equipment to present a valid Equipment Leasing Agreement Registration Certificate (ELARC).

This is contained in a statement made available to newsmen in Abuja by the Head, Media and Corporate Communication of Equipment Leasing Registration Authority (ELRA), Adebola Sunday.

According to the statement, the Director General of BPP, Dr Adebowale Adedokun says equipment leasing is recognised as an approved acquisition option under Section 55(5)(b) of the Public Procurement Act (PPA), 2007, and remained critical to executing many government contracts.

The statement quotes Adedokun as saying that bidders must present an ELARC issued by the Equipment Leasing Registration Authority (ELRA) as a condition for responsiveness in procurement processes involving leased equipment.

It explains that ELRA is the statutory authority responsible for registering equipment leasing agreements in Nigeria.

The statement says the directive is aimed at ensuring compliance with Section 4 of the Equipment Leasing Act, 2015, which outlines statutory requirements for equipment leasing agreements.

It advises all bidders to comply strictly with the directive, warning that defaulters would be sanctioned in line with applicable laws and regulations.

PR Florence Adewale