NDIC to auction defunct Heritage Bank’s landed assets next month
The Nigeria Deposit Insurance Corporation (NDIC) has announced the launch of a national auction for the landed properties and physical assets of the defunct Heritage Bank.
This follows the revocation of Heritage Bank’s license by the Central Bank of Nigeria (CBN) on June 3, due to concerns over the bank’s financial instability.
In a statement issued on Monday, Bashir Nuhu, NDIC’s Director of Communication & Public Affairs, confirmed that the auction will cover 36 locations nationwide, starting on December 4, 2024.
The sale will be conducted via competitive bidding to ensure transparency, fairness, and accountability, with proceeds directed towards paying liquidation dividends to eligible claimants.
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The NDIC has invited prospective buyers, including financial institutions, corporate bodies, and private individuals, to participate. The auction will include both the bank’s real estate and physical assets, all of which will be available for inspection prior to the sale.
Additionally, the NDIC has expressed a preference for financial institutions interested in acquiring the properties and continuing operations at these locations, to maintain local access to banking services previously provided by Heritage Bank.
As of August, the NDIC reported that it had reimbursed 82.36% of insured deposits to eligible depositors. The corporation assured that once all assets are recovered and debts settled, remaining uninsured balances will be paid out as liquidation dividends.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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