2 weeks Ago By Favour Olekanma
Daily Post Nigeria NDIC begins sale of Heritage Bank assets Home News Politics Metro Entertainment Sport Business NDIC begins sale of Heritage Bank assets Published on November 11, 2024 By Favour Olekanma 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. DAILY POST 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. 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. Related Topics: Heritage Bank NDIC Don't Miss Export processing terminal to link with domestic export warehouse – NPA You may like Come forward if you’re yet to recover your money – NDIC tells Heritage Bank customers NDIC: Senate moves to safeguard depositors’ funds Senate strips CBN power to appoint CEO of NDIC Heritage Bank: NDIC pays 82.36 per cent of customers at N5m per depositor Heritage Bank: Payments other than insured deposits subject to asset liquidation – NDIC Heritage Bank: NDIC gives reasons for delay in paying some customers Advertise About Us Contact Us Privacy-Policy Terms Copyright © Daily Post Media Ltd.
