The Nigeria Deposit Insurance Corporation (NDIC) announced it has begun the process of selling the landed properties and chattels of the defunct Heritage Bank, aiming to ensure a timely declaration of liquidation dividends to the bank’s uninsured depositors.
Bashir A. Nuhu, Director of the Communication and Public Affairs Department of the NDIC, stated that the exercise is in line with the corporation’s statutory powers as liquidator of failed banks under Section 62(1)(d) of the NDIC Act, 2023.
He added that “it also comes after the exercise for the sales of physical assets of the defunct bank at its leased locations nationwide.”
According to Mr Nuhu, the sale of landed assets will be conducted through competitive bidding across the bank’s 36 affected locations nationwide, beginning on Wednesday, 4th December 2024.
He explained that interested buyers must adhere to set guidelines to ensure “transparency, fair competition, equity, and accountability to enable recovery of commensurate values from the exercise,” which is crucial for paying liquidation dividends to eligible claimants.
“In order to allow the continuation of provision of financial services to the Nigerian public at the locations of the closed bank towards bolstering financial inclusion, preference shall be given to financial institutions who are willing to buy any of the properties at the highest auctioned prices along with all the physical assets at wholesale value,” Mr Nuhu stated.
“However, corporate bodies and private individuals are equally eligible to compete in the process without prejudice, as the auction shall be open and competitive to all bidders,” he added.
“Furthermore, bidders will be given the opportunity to inspect the properties and chattels across all locations prior to disposal.”
He also noted that “all interested parties are to make available 10% bid security of the value of their sealed bids to be dropped in the bid box provided at the various centres of the corporation. Interested bidders are advised to submit their bids at any of the designated NDIC offices in Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.”
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