NDIC Begins The Sale Of Heritage Bank Assets

The Nigeria Deposit Insurance Corporation, NDIC, has commenced a national auction of landed properties and physical assets belonging to the defunct Heritage Bank.

Bashir Nuhu, Director of Communication & Public Affairs at NDIC, disclosed this in a statement on Monday.

Recalls 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.