Nigeria Deposit Insurance Corporation (NDIC) has announced a national auction for the sale of landed properties and physical assets from the defunct Heritage Bank.
Gatekeepers News reports that this announcement was made by Bashir Nuhu, the Director of Communication & Public Affairs at NDIC, in a statement released on Monday.
The Central Bank of Nigeria (CBN) revoked Heritage Bank’s license on June 3 due to concerns regarding its financial stability.
The NDIC, serving as the liquidator for Heritage Bank, will manage the auction proceedings, which are set to take place across 36 locations starting from December 4.
“The sale of landed assets is by competitive bidding and will take place at the 36 affected locations of the bank across the country, from Wednesday 4th December, 2024.
“Buyers who wish to participate in the auction are expected to follow laid down guidelines aimed at ensuring transparency, fair competition, equity and accountability to enable recovery of commensurate values from the exercise.
“This is vital for the payment of liquidation dividends to eligible claimants,” the statement read.
It also said that prospective buyers, including financial institutions, corporate bodies, and private individuals, are invited to participate in a competitive bidding process.
According to the statement, the sale extends to both the landed properties and chattels of Heritage Bank, with assets available for inspection before auction.
Furthermore, the NDIC will give preference to financial institutions willing to acquire properties and maintain operations at these sites, a move intended to sustain local access to financial services in areas previously served by the bank.
As of August, the NDIC said it has since reimbursed about 82.36 per cent of the total insured deposit to date.
Depositors with balances above N5 million received the insured amount, while the corporation promised to pay the remaining uninsured balances as liquidation dividends once the bank’s assets are recovered and debts settled.
