In a strategic move to pay out liquidation dividends to uninsured depositors of the defunct Heritage Bank, the Nigeria Deposit Insurance Corporation (NDIC) has begun preparations to sell the bank’s properties. This action falls under the NDIC’s authority as liquidator for failed banks, in line with section 62 (1)(d) of the NDIC Act, 2023.
The sale will be conducted through competitive bidding, covering 36 locations previously operated by Heritage Bank across Nigeria. The auction is scheduled to begin on Wednesday, 4th December 2024, with guidelines in place to ensure transparency, fairness, and accountability. By obtaining adequate returns from the sale, the NDIC aims to meet its goal of distributing liquidation dividends to eligible claimants.
To maintain financial service accessibility in these locations, the NDIC will prioritise financial institutions interested in purchasing the properties at the highest auction price, including all physical assets at wholesale value. Corporate entities and private individuals can also participate in the auction, as it will be open to all, encouraging fair competition.
Prospective buyers will have an opportunity to inspect the properties and other assets before bidding. The NDIC emphasises that all participants are expected to comply with established guidelines for transparency throughout the process.
Interested buyers are encouraged to submit bids at NDIC offices located in Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt. This sale marks a significant step towards recovering the value of Heritage Bank’s assets and ensuring that uninsured depositors receive their due payments efficiently.