In a strategic move aimed at expediting the payment of liquidation dividends to uninsured depositors, the Nigeria Deposit Insurance Corporation (NDIC) has launched an auction process for the sale of landed properties and chattels of the defunct Heritage Bank (In-Liquidation).
This was contained in a statement issued by the Director of Communication and Public Affairs Department of the NDIC, Bashir Nuhu.
Exercising its statutory authority as the liquidator of failed banks under Section 62(1)(d) of the NDIC Act 2023, the Corporation is conducting this auction to maximize asset recovery.
This latest initiative follows a series of previous actions by the NDIC involving the sale of physical assets belonging to the failed bank across its leased locations nationwide.
The auction is set to commence on Wednesday, December 4, 2024, with properties from 36 branches of the bank to be sold via competitive sealed bidding at six designated NDIC locations across Nigeria, including Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.
Interested buyers, whether corporate bodies, private individuals, or financial institutions, are expected to adhere to established guidelines designed to ensure transparency, fairness, and accountability throughout the bidding process.
To encourage financial continuity, the NDIC has announced that priority will be given to financial institutions willing to purchase properties at the highest bid value, with the aim of continuing banking services at the auctioned locations.
This approach aligns with the goals of Nigeria’s financial inclusion strategy, as envisioned by financial regulatory authorities, and ensures that vital banking services remain accessible to the public.
The auction is open to all interested parties. However, bidders must provide a 10% bid security of the value of their sealed bids, which must be submitted at the NDIC office corresponding to their chosen auction location.
Additionally, bidders will have the opportunity to inspect properties one week prior to the auction date.
The NDIC has advised prospective buyers to submit their bids at one of the Corporation’s six offices based on their area of interest.
The statement urged any interested person or institution to contact Bashir A. Nuhu, the Director of Communication and Public Affairs Department.
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