Reference Number RFP-AFI-2024-01
Title Professional Consultancy Services for Diagnostic Study and Roadmap for the Financial Inclusion of Forcibly Displaced Persons (FDPs) in Nigeria
Duration February 2024 to June 2024
Thematic FDPs
Submission Deadline February 4, 2024
Posted on January 22, 2024
Download documents RFP Document

Annexure 1 - Technical Proposal Template

Annexure 2 - Financial Proposal Template

Conflict of Interest Disclosure Form

General TCs (Services)

Overview

1. Background:

The Alliance for Financial Inclusion

The Alliance for Financial Inclusion (AFI) is the world’s leading organization on financial inclusion policy and regulation. Currently, 84 member institutions make up the AFI network including central banks, ministries of finance and other financial policymaking or regulatory institutions from over 76 developing countries and emerging markets. AFI empowers policymakers to increase the access and usage of quality financial services for the underserved through sustainable and inclusive policies and an effective use of digital technologies. 

Policies developed and implemented by AFI members contribute to a range of the Sustainable Development Goals.  By Setting their own agenda, AFI members harness the power of peer learning to develop practical and tested policy reforms that enhance financial inclusion with strategic support from both public and private sector partners.

AFI has 7 Working Groups (WG):  Consumer Empowerment and Market Conduct Working Group (CEMCWG), Digital Financial Services Working Group (DFSWG), Financial Inclusion Data Working Group (FIDWG), Financial Inclusion Strategy Peer Learning Group (FISPLG), Global Standards Proportionality Working Group (GSPWG), Inclusive Green Finance Working Group (IGFWG) and SME Finance Working Group (SMEFWG),

As the key source of policy developments and trends in financial inclusion and as the primary mechanism for generating and incubating technical content in the network, the Working Groups serve as “communities of practice”. Providing a platform for knowledge exchange and peer learning among policymakers to share, deliberate and deepen their understanding, the working groups offer leadership and expertise in their respective policy fields and support the network to monitor new developments in emerging fields.

The knowledge generated via the working groups is disseminated for implementation by a range of capacity building activities such as Joint Learning Programs, Member Trainings, Trainings by Private Sector Partners. The practical experience members garner from engaging in peer learning based capacity building is then applied by members as in country implementation projects which are supported by the provision of financial or technical support to AFI member institutions in conducting activities that aim to deliver financial inclusion policies, regulations, supervisory tools or enablers for the development of policies, such as national financial inclusion strategies. 

The working groups receive strategic guidance and insight from the High-Level Global Standards & Policy Committee, while the  Gender Inclusive Finance Committee, supports WGs in integrating gender considerations into all aspects of their work and support members in fulfilling their Denarau Action Plan (updated 2022) commitment to promote women’s financial inclusion.

AFI members have made further commitments in a range of other accords which can be read here.

The AFI’s five regional initiatives complete the AFI platform of services by supporting policy implementation in Africa (AfPI), Latin America and the Caribbean (FILAC), the Pacific Islands (PIRI), Eastern Europe and Central Asia (ECAPI) and the Arab Region (FIARI).  

 

2. Project Background:

CENTRAL BANK OF NIGERIA (CBN)

[This section describes the country landscape, context of the assignment from the Central Bank of Nigeria’s (CBN) perspective and any other information that might be helpful and related to the consultancy assignment]

During the past two decades, Nigeria has witnessed unprecedented numbers of internally displaced persons (IDPs) due to insecurity, climate change and natural disasters and inter communal violence. The overall situation in North-East Nigeria remains volatile in several Local Government Areas (LGAs) within Borno, Yobe, and Adamawa (BAY) States, resulting in the displacement of individuals. Furthermore, there has been a noticeable influx of individuals from Cameroon into Adamawa State since June 2022, further exacerbating the complexity of the humanitarian crisis. According to UNHCR, by July 2023, there were 3, 578, 996 IDPs, 2,388, 703 in Northeast and 1, 190, 293 in Northwest. The offices of International Organisation on Migration (IOM), UNHCR and other National and international Non-Governmental Organisations have been supporting the Government of Nigeria in hosting these individuals.

Furthermore, Nigeria also hosts refugees and asylum seekers from Cameroon and Central African Republic in majority and other countries due to violence and other factors. As of July 2023, there were 99, 236 registered refugees and asylum seekers hosted in Akwa-Ibom, Anambra, Benue, Cross River, Enugu, and Taraba States.UNHCR has been present in Nigeria since 1978, working with the Nigerian Government, partners, and other United Nations Agencies to uphold the rights and wellbeing of refugees, internally displaced people (IDPs), refugee returnees, asylum-seekers, and stateless persons.

With the focus now shifting towards ensuring that refugees and internally displaced persons can participate actively in the economy, it is then of paramount importance that they also access formal financial services and products so as to take advantage of economic opportunities that will improve their well-being and those within their households.

 

3.  Overall Objective: 

Nigeria’s revised National Financial Inclusion Strategy (NFIS 2.0) identified five key demographics that are financially excluded, one of which are residents of the North-Western and North-Eastern parts of the country. These regions account for the largest number of FDPs (specifically, IDPs) in Nigeria due to the Boko Haram insurgency, pastoralist clashes, and flooding caused by climatic changes among others.

The vision of the NFIS II is to “enable access to and usage of financial products and services to 95% of the adult population by 2024.”Apart from the NFIS II (2021 – 2024), the Nigerian Government has also put in place some strategies inorder to propel financial inclusion of its population namely:

1. Roadmap for Social Protection and Humanitarian Payment Digitization in Nigeria (March 2021).

2. National Fintech Strategy (November 2022).

However, FDPs (IDPs, refugees and asylum seekers) are not explicitly included in these strategies. They lack verifiable identification documents, they have low levels of financial literacy, and there is a limited number of financial service providers that serve them.

This assignment will contribute to CBN’s efforts to ensure that no one is left behind in the pursuit of full financial inclusion with the attendant impact of effectively achieving the Banks Monetary policy objectives. The main outcomes from the project will include;

  • A diagnostic study on the level of financial inclusion of FDPs (IDPs, refugees, asylum seekers, and host communities).
  • A roadmap for the inclusion of FDPs into the NFIS and mainstream financial inclusion policy.

 3. Project Components

3.1.1 Diagnostic study on the level of financial inclusion of FDPs and Roadmap for the inclusion of FDPs into the NFIS and mainstream financial inclusion policy

 

Rationale

Currently, FDPs are not sufficiently addressed in Nigeria’s national financial inclusion policies and initiatives, and are at risk of being left behind in the pursuit of full financial inclusion and sustainable development. There is no financial inclusion data on FDPs which makes it difficult for authorities to design policies for their inclusion, limited multi-stakeholder coordination to advance their financial inclusion, and a lack of appropriate financial products and services for their unique needs. In order for Nigeria to achieve full financial inclusion that truly leaves no one behind, the FDPs residing within the jurisdiction need to be addressed so that they can similarly enjoy access to and usage of quality formal financial services which is a fundamental right for people to engage actively and participate in the economy. This is particularly important for a population segment that is excluded not just from the formal financial system, but also social protection systems, unlike citizens. Similarly, special attention should be made to ensure that IDPs are financially included, and their livelihoods are rebuilt.

The CBN and AFI are seeking a reputable and experienced consulting firm to conduct a diagnostic study on the level of financial inclusion of FDPs and their host communities in Nigeria. The purpose is to develop and publish a report on the level of financial inclusion of FDPs and their host communities by building on existing initiatives, identifying barriers and gaps, and suggesting policy recommendations to the CBN and other key national stakeholders including for the NFIS and mainstream financial inclusion policy. The diagnostic study will ensure evidence-based financial inclusion policies for FDPs in Nigeria, and will promote coordination among key stakeholders to discuss existing initiatives for and barriers to the financial inclusion of FDPs.

 The main activities under this assignment:

  1. Conduct stakeholders’ consultation meetings and/or workshops to map and gather ideas on financial inclusion barriers and gaps for FDPs as well as existing initiatives.
  2. Develop a data framework for FDP financial inclusion in Nigeria to maintain accurate data that can be utilized for evidence-based policy interventions by the CBN.
  3. Design and deploy demand- and supply-side survey questionnaires on the level of financial inclusion of FDPs and host communities in Nigeria.
  4. Undertake a policy and regulatory review on the financial inclusion of FDPs in Nigeria.
  5. Develop a diagnostic study report based on the data from the demand- and supply-side surveys and the policy and regulatory review to establish the level of financial inclusion of FDPs and submit it to CBN for approval (the report will indicate the level of financial inclusion of FDPs and their host communities, the barriers and gaps they face, and policy recommendations to address these challenges, including in the NFIS and mainstream financial inclusion policy).
  6. Organize a national consultative multi-stakeholder workshop to present, consult, and validate the diagnostic study.
  7. Formulate a roadmap and its implementation plan for the inclusion of FDPs in the NFIS and mainstream financial inclusion policy, based on the diagnostic study.
  8. Present the roadmap to a national consultative multi-stakeholder workshop to validate it.
  9. Organize a national multi-stakeholder dissemination and capacity building workshop for the roadmap.

 

4. Scope of Work:

The consulting firm is expected to produce a diagnostic study report on the financial inclusion level of FDPs and their host communities in Nigeria, and a roadmap with its implementation plan for the inclusion of FDPs into the NFIS and mainstream financial inclusion policy. This should cover both FDPs (IDPs, Refugees and Asylum Seekers) who are in camps and residing in communities) and host communities.

 

The following sets out the scope of work and specific deliverables under this brief:

  • Inception meeting: preliminary consultations with the CBN team to agree on the scope of work, timelines, deliverables, partners (e.g., Government Ministries and Agencies, UNHCR, Federal Ministry of Humanitarian Affairs, WFP), support needed, and reporting process.
  • Consultation meetings and/or workshops with stakeholders: Engage and consult stakeholders to map and gather ideas on financial inclusion gaps and challenges for FDPs as well as existing initiatives. 
  • Data framework: Develop a FDP financial inclusion data framework to maintain accurate data that can be utilized for evidence-based policy interventions by the CBN.
  • Demand- and supply-side survey questionnaires: The questionnaires should be designed in the way that it facilitates establishing the level of financial inclusion for FDPs and host communities. Indicators such as gender, age, disability, financial services knowledge, having an account in formal financial institutions (Banks, MFIs, SACCOs, MNOs, NDFIs), frequency of using an account, having a loan in formal financial institution, having an insurance policy, having a pension policy, having investments, savings and borrowing behaviors and some financial health indicators. The questionnaire should comprise of full identification of the person including Refugee ID if any, Refugee camp, etc. The questionnaire to be approved by CBN.
  • Methodology for the deployment of the survey questionnaires.
  • Deployment of demand- and supply-side survey questionnaires on the level of financial inclusion of FDPs and host communities.
  • Policy and regulatory review on the financial inclusion of FDPs in Nigeria.
  • Consultation meetings and/or workshops with stakeholders to present initial results and gather feedback.
  • Diagnostic study based on the data from the demand- and supply-side surveys and the policy and regulatory review to establish the level of financial inclusion of FDPs and submit it to CBN for approval (the report will indicate the level of financial inclusion of FDPs and their host communities, the gaps and challenges they face, and policy recommendations to address these challenges, including through the NFIS and mainstream financial inclusion policy).
  • Validation workshop for diagnostic study: The consulting firm will organize in collaboration with CBN and AFI a national consultative multi-stakeholder workshop to present, consult, and validate the findings and recommendations of the diagnostic study.
  • Roadmap for the inclusion of FDPs in the NFIS and mainstream financial inclusion policy, based on the diagnostic study.
  • Validation workshop for the Roadmap and its implementation plan. The consulting firm will organize in collaboration with CBN and AFI a national consultative multi-stakeholder workshop to present, consult, and validate the Roadmap and its implementation plan.
  • Dissemination and capacity building workshop for the Roadmap. The consulting firm will organize and facilitate a dissemination and capacity building workshop for the Roadmap in collaboration with CBN and AFI.

 

5. Timeline and Deliverables:

The assignment is expected to be completed by the end of May 2023. Below is a tentative timeline:

No

Activity

Output/Deliverable

Tentative Timeline

1

Appointment of Consultant

Signed Agreement with Consultant

Feb 2024

2

Inception Meeting

Agreement on scope, expected deliverables, support needed, reporting and related timelines.

Feb 2024

3

Draft data collection tools (questionnaires to be used in the survey & Stakeholder Consultations)

Questionnaires drafted and approved

Mar 2024

4

Consultation meetings with stakeholders

Gather ideas on challenges and initiatives about FDPs’ financial inclusion

Mar 2024

5

Conduct a survey data collection on FDPs and host communities’ financial inclusion, conduct data analysis and prepare draft report.

Survey conducted and draft report produced

Mar 2024

6

Presenting initial results to stakeholders and gather feedback

Validation Workshop Report (Gather feedback and comments on draft report)

Apr 2024

7

Prepare a final report (diagnostic study) on financial inclusion level for FDPs and host communities, as well as policy recommendations, and submit to CBN for approval

Final Diagnostic Report produced and approved

Apr 2024

8

Formulate a roadmap for the inclusion of FDPs in the NFIS and mainstream financial inclusion policy

Roadmap developed

May 2024

9

Present roadmap to a national multi-stakeholder workshop

National multi-stakeholder capacity building workshop report

May 2024

During the assignment, CBN and AFI teams will closely oversee, guide, and support the consulting firm by sharing internal expertise; linking them with key stakeholders; assisting in arranging the consulting firm’s communications; and providing inputs to deliverables. This assignment is expected to involve extensive data analysis and interaction with key stakeholders.

 

6. Travel:

This consultancy work requires domestic/regional/international travelling to support the implementation of the survey and national multi-stakeholder consultative workshops. Please include budgeting for survey- and workshop-related organization and travel in your financial proposal. The estimated travel expenses should be included with breakdown of the flight, accommodation, per diem whenever relevant and will be capped as reference for further evaluation and contract award.

 

7. Consultant Experience:

  • The applicants should be a consulting firm with a proven record in conducting research relating to financial sector development, financial inclusion, or related field. 
  • The consulting firm should have a team of experts that include statistics experts, technology experts and financial sector experts, with working knowledge of financial institutions and good understanding of existing financial innovations globally and particularly in Nigeria.
  • Good understanding of Nigeria financial sector (Banking, MFIs, MNOs, SACCOs and etc.), existing products and Nigeria’s Financial inclusion journey.
  • The consulting firm should have the capacity to deploy enumerators across the country (mainly in the Northeast and Northwest of the country).
  • To have done similar exercises for similar group (s) of people and institutions is an added advantage.
  • The team leader should have at least 10+ years of relevant experience and hold a master’s degree in a relevant field.
  • Excellent writing and presentation skills in the English and local language.
  • Ability to communicate and interact with local people (rural communities and FDPs).
  • Ability to maintain and keep confidential information within the scope of the project.

 

8. Reporting:

Throughout the contract period, the consultant will be reporting to the Project Lead from CBN supported by the Technical Lead from the AFI team supporting this assignment.

 

9. Payment Terms:

The payment terms/schedule proposed for this consultancy are as following:

Deliverables

Percentage

Upon submission and acceptance of Inception Report

20%

Upon submission and acceptance of First draft diagnostic report

30%

Upon submission and acceptance of Final draft diagnostic report

30%

Upon completion of the Roadmap

20%

 

100%

 

10. Proposal Submission Information:

Proposals will be due with the following requirements for submission:

Submission Deadline:

4 February 2024

Documents to be submitted with Annexure 1 and 2:

Firm

·        Company Registration;

·        Company Profile;

·        List of previous or current clientele on similar work;

·        References with email contact;

·        Joint-Agreement (if any);

·        Conflict of Interest Disclosure form;

·        At least one (1) sample work (link or attachments) if any

Individual

·        Full CVs with list of previous similar work;

·        Disclosure if individual have a full time or part time employment contract with any organization or government official or indirect involvement in this tender;

·        Conflict of Interest Disclosure form;

·        Reference letter (if any);

·        References with email contact;

  • At least one (1) sample work (link or attachments) if any

 

Method of Submission:

By email to AFI’s Procurement & Contracts Office at

RFP2401@afi-global.org and Procurement@afi-global.org

 

Submission of Technical and Financial:

Kindly submit the followings:

1.    Using the template/format given in Annexure 1 (Technical) and Annexure 2 (Financial) and/or additional technical proposal for more information.

2.    Technical and Financial proposal must be separated in different pdf.

3.    Financial proposals must be USD only. Whereas for Malaysian applicants with Business Registration under Suruhanjaya Syarikat Malaysia (SSM), please submit your financial proposals in MYR.

4.    Proposal to be submitted to the designated email address.

5.    AFI does not tolerate copyright infringement, including but not limited to infringement, in the form of plagiarism. Consultant or Consulting entity awarded a contract by AFI shall take responsibility to ensure that the authored works, produced in parts or as an entirety of the deliverables stated in this RFP does not infringe on copyrights.

AFI is not bound to accept the lowest quoted bid and reserves the right to disqualify incomplete submission, overlapping submission, non-compliance to the above requirements. Notification of results will only be sent to shortlisted candidates upon completion. 

10.1      Retention of Proposals

All proposals submitted become the property of AFI. AFI will make all reasonable efforts to maintain proposals in confidence and will release proposals only to personnel involved with the evaluation of the project. Proprietary information should be identified in each proposal. 

 

11. Evaluation Criteria

The proposals submitted will be evaluated based on the following criteria:

 

Technical Scoring Criteria

 

1.    

Profile and Overall Qualification

10%

2.    

Technical Experience

40%

 

·        Adequacy for the assignment

20%

 

·        Regional/Global experience

20%

3.    

Adequacy of proposed workplan and methodology

40%

 

·       Technical approach and research methodology

20%

 

·       Workplan (include Level of Effort of team/individual)

20%

4.     

Sample Work – Relevance to assignment and demonstrated experience in writing

10%

 

Total

100%

 

Evaluation of technical and financial proposals

AFI reserves the right to award the most suitable proposal based on the evaluation of combined criterion, where bidders are qualified by the combined valuation of the technical and financial proposals, with the following weightage:

i) Technical Proposal: 70% (Seventy percent)

ii) Financial Proposal: 30% (Thirty percent)

 

How to Apply

Interested applicants are expected to submit a proposal with an updated CV and using the template given by email to AFI’s Procurement & Contracts Office at rfp2401@afi-global.org by 4 February 2024.

Note: AFI does not tolerate copyright infringement, including and not limited to infringement, in the form of plagiarism. Consultant or consulting entity awarded a contract by AFI shall take responsibility to ensure that the authored works, produced in parts or as an entirety of the deliverables stated in this RFP does not infringe on copyrights.

The final decision on the selection of a consultant/consulting firm for this project rests with AFI management team and with the Inquiry. Only shortlisted and successful consultants will be contacted.

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