The Nigeria Deposit Insurance Corporation, NDIC has announced plans to auction assets belonging to defunct Heritage Bank.
These assets include landed
properties and physical assets.
Bashir Nuhu, Director of
Communication & Public Affairs at NDIC, disclosed this in a statement on
Monday.
Recall that on June 3, the
Central Bank of Nigeria revoked the license of Heritage Bank over weak
financial stability.
The NDIC, acting as the
liquidator of Heritage Bank, will oversee the sale across 36 locations from 4
December.
“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.
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