The Nigeria Deposit Insurance Corporation (NDIC) has confirmed that the sale of assets belonging to the defunct Heritage Bank will start on December 4, 2024.
According to a statement issued on Sunday by Bashir Nuhu, NDIC’s Director of Communication and Public Affairs, the commission has initiated the process to liquidate the bank's landed properties.
The sale is part of efforts to recover funds and ensure the protection of depositors following the bank's collapse. This development marks a significant step in the resolution process for Heritage Bank's outstanding obligations.
Nuhu said the exercise conforms to the corporation’s statutory powers as the liquidator of failed banks in the country.
He said interested bidders should submit bids at designated NDIC offices in Abuja, Lagos, Bauchi, Kano, Enugu, and Port Harcourt.
“In a bid to ensure timely declaration of liquidation dividends to uninsured depositors of the failed Heritage Bank, the Nigeria Deposit Insurance Corporation (NDIC) has commenced the process for the sale of landed properties of the defunct bank,” the statement reads.
“The exercise is under the Corporation’s statutory powers as liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023.