By Our Reporter
The Nigeria Deposit Insurance Corporation, as part of its statutory mandate as the liquidator of failed banks, on Sunday, announced plans to sell off properties and assets belonging to the defunct Heritage Bank in a bid to recover funds for uninsured depositors.
The exercise, which will include competitive bidding for Heritage Bank’s landed properties and chattels scattered across the 36 states in the country is slated to begin on Wednesday.
In a statement signed by the Director of Communication and Public Affairs, Bashir A. Nuhu, NDIC noted that it had commenced the sale of assets of the defunct Heritage bank, in pursuant to the Corporations statutory powers as liquidator of failed banks under section 62(1)(d) of the NDIC Act, 2023.
The statement read: “In a bid to ensure the timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank, the Nigeria Deposit Insurance Corporation has commenced the process for the sale of landed properties and chattels of the defunct bank.
“The exercise is pursuant to the Corporation’s statutory powers as liquidator of failed banks under Section 62(1)(d) of the NDIC Act, 2023. It also comes after the exercise for the sale of physical assets of the defunct bank at its leased locations nationwide.
“The sale of landed assets will be by competitive bidding and will take place at the 36 affected locations of the bank across the country, starting Wednesday 4th December 2024.”
NDIC promises to carry out its statutory role in a transparent and fair manner, in order to ensure that recovered funds are appropriately tailored offsetting liquidation dividends to the affected claimants.
NDIC further stated the the auction will be open to other corporate bodies and private individuals, with equal opportunities for all bidders, while noting that the financial institutions eager to purchase these properties would be prioritised as long as they offer the highest auction prices.
“Preference shall be given to financial institutions willing to buy any of the properties at the highest auction prices, along with all the physical assets at wholesale value, the statement read.
“However, corporate bodies and private individuals willing to compete are equally eligible to participate in the process without prejudice, as the auction shall be open and competitive to all bidders,” NDIC disclosed.
The NDIC further revealed that prospective buyers would be granted access to inspect the properties and assets at their respective locations before making their bids.
Interested bidders will be allowed to inspect the properties prior to their bids, according to the NDIC, stressing that bidders are required to submit their sealed bids, accompanied by a 10 per cent bid security deposit, at designated NDIC offices in Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.