The Nigeria Deposit Insurance Corporation (NDIC) has placed Heritage Bank assets all across Nigeria for sale.

NDIC, in an advertorial in a newspaper publication on Thursday, announced the sale of 48 bank properties and chattel, which include vehicles, office equipment, plant, and machinery, located in 62 different locations nationwide.

The Nigeria Deposit Insurance Corporation in the exercise of its right as Liquidator of failed Deposit Money Banks hereby invites interested members of the general public to buy the assets (landed property and chattels) of defunct Heritage Banks through public competitive bidding, NDIC said.

The banks head office and its annexe at 143 Ahmadu Bello Way and 130 Ahmadu Bello Way, Victoria Island, Lagos, were listed for sale.

Six other branches in Lagos, four branches in Abuja, four in Rivers State, and across the country are also being put up for sale.

NDIC said interested parties are invited to come and inspect the assets and submit their bids at the corporations office in Lagos.

It said bids must come with 10 per cent of the bid amount in a certified bank draft, and also successful bidders must pay the remaining balance within two weeks of notification.

On June 3, the Central Bank of Nigeria (CBN) revoked the licence of Heritage Bank after it breached Section 12 (1) of BOFIA, 2020.

CBN said the board and management of the bank have failed to improve the banks financial performance, which constitutes a threat to financial stability.

Following the revocation. NDIC announced the commencement of the verification and payment to Heritage Bank depositors.

NDICs managing director, Bello Hassan, at a media briefing on June 5, promised to settle insured customers within one week. He added that the total bank deposits at Heritage Bank stand at N650 billion while its loan portfolio is above N700 billion.

He added that the banks total depositors are 2.3 million, with 99 per cent of them having total balances of less than N5 million. (The Guardian)