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NDIC Calls For Buyers As It Auctions Heritage Bank’s Head Office, Other Branches, Assets



NDIC Calls For Buyers As It Auctions Heritage Bank’s Head Office, Other Branches, Assets

On Thursday, the Nigeria Deposit Insurance Corporation (NDIC) announced the sale of the head office, other branches across the country, and assets of the recently closed-down Heritage Bank.

According to the NDIC, the sale of the properties is part of its role as the liquidator of the bank.

In an advertisement in Punch Newspaper, NDIC listed the bank properties numbering 48 and its chattel, including vehicles, office equipment, plant, and machinery in 62 locations across the country.

Part of the advert reads, “The Nigeria Deposit Insurance Corporation, in the exercise of its right as liquidator of failed deposit money banks, hereby invites interested members of the general public to buy the assets (landed property and chattels) of defunct heritage banks through public competitive bidding.”

Also, in the advert, the head office of the bank and its annex located at 143 Ahmadu Bello Way and 130 Ahmadu Bello Way, Victoria Island, Lagos, were listed for sale (buildings, chattels, generators, and motor vehicles).

The NDIC also listed six other branches in Lagos, four branches in Abuja, four in Rivers States, and the others spread across the country.

The corporation therefore called on interested parties to come for inspection and also send in their bids on the assets to its office in Lagos.

The NDIC also explained that “bids are expected to come in with 10 percent of the bid amount in the Certified Bank Draft. Successful bidders will be required to pay the balance of the bid price within two weeks of notification.”

News About Nigeria recalls that the Central Bank of Nigeria (CBN) revoked the bank’s licence because the board and management of the bank have not been able to improve the bank’s financial performance.

The Apex Bank also noted that Heritage Bank’s failure to improve is a threat to financial stability.