The Nigeria Deposit Insurance Corporation (NDIC) on Monday announced that it will begin the sale of Heritage Bank’s assets on Wednesday, December 4, 2024.
Edum News reports that the development is coming months after the revocation of the bank’s license by the Central Bank of Nigeria (CBN).
It can be recalled that the Apex Bank had in a statement on June 3, revealed that the revocation of the bank’s license was due to failure to improve its financial performance.
However, in a fresh development, the NDIC in a statement by its Director of Communication and Public Affairs Bashir Nuhu, disclosed that the sale of the bank’s assets is competitive as only the highest bidders would be able to buy.
According to Nuhu, the sale of the landed properties of the firm is in line with NDIC’s statutory powers as liquidator of failed banks under section 62 (1)(d) of the NDIC Act, 2023.
The statement partly reads, “The sale of 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.”
