By Milcah Tanimu
The Nigeria Deposit Insurance Corporation (NDIC) will begin selling Heritage Bank’s assets on December 4, 2024. In line with its statutory role as the liquidator for failed banks, the NDIC has initiated the process to auction off properties belonging to Heritage Bank, whose license was revoked by the Central Bank of Nigeria (CBN) earlier this year.
The asset sale will occur at 36 bank locations nationwide, and interested bidders, including corporate bodies and private individuals, can participate. The sale prioritizes transparency, competitive bidding, and ensuring the highest auctioned prices, with financial institutions receiving preference for purchasing assets in bulk.
Prior to the auction, bidders can inspect Heritage Bank’s properties and assets at various designated locations. More information on the sale process can be found on NDIC’s official website and social media platforms.
