Market News

NDIC Commences Liquidation Of Heritage Bank’s Assets - DAILY TRUST

JUNE 18, 2024

By Sonia Odigie

The Nigeria Deposit Insurance Corporation (NDIC), on Thursday, in an advertorial in a newspaper publication, listed Heritage Bank’s assets nationwide for sale following the revocation of the licence of the bank by the Central Bank of Nigeria (CBN).

The NDIC, which is the liquidator of failed Deposit Money Banks (DMBs), announced the sales of 48 bank properties and chattel, including vehicles, office equipment and machinery in 62 locations across the country.

    According to NDIC, interested parties and public competitive bidders are invited to come for an inspection of the assets and submit their bids at the corporation’s office in Lagos. The bids must include 10 per cent of the bid amount in a certified bank draft, and successful bidders must pay the remaining balance within two weeks of notification. 

    The head office of the bank and its annex at 143 Ahmadu Bello Way and 130 Ahmadu Bello Way, Victoria Island, Lagos, respectively were listed for sale, including buildings, chattels, generators and vehicles. Others include six other branches in Lagos, four branches in Abuja, four in Rivers State and more across the country.


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