NDIC to Auction Heritage Bank’s Assets
By Patience Ikpeme
The Nigeria Deposit Insurance Corporation (NDIC) has initiated the process of auctioning landed properties and chattels belonging to the failed Heritage Bank (In-Liquidation).
A statement from the NDIC signed by Bashir A. Nuhu, Director, Communication and Public Affairs Department said this move is in line with the NDIC’s statutory powers as the Liquidator of failed banks, as outlined in Section 62(1)(d) of the NDIC Act, 2023.
The auction is a follow-up action to the previous disposal of physical assets and chattels at the bank’s leased locations nationwide.
The auction will be conducted through competitive bidding in sealed bids, scheduled to take place at six NDIC locations across the country on December 4, 2024.
Interested buyers are expected to adhere to specific guidelines to ensure transparency, fairness, and accountability in the bidding process.
The NDIC, Nuhu said aims to maximize the value of the assets to facilitate the payment of liquidation dividends to eligible claimants.
The Corporation he added will prioritize financial institutions as potential buyers to ensure continued banking services at the designated locations, thereby promoting financial inclusion.
However, corporate bodies and private individuals are also eligible to participate in the auction.
To ensure informed bidding, interested parties will have the opportunity to inspect the properties and chattels one week prior to the auction date. Bidders are required to submit a 10% bid security to participate in the auction.
The NDIC has designated six locations for bid submission: Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.
Bidders have been advised to submit their bids at the designated NDIC office corresponding to their preferred location.
By conducting this auction, the NDIC aims to contribute to the resolution of the failed bank and protect the interests of depositors and creditors.
