CBN Closure: Heritage Banks Assets Set For Sale By NDIC

Following the revocation of the license of Heritage Bank on June 3rd by the Central Bank of Nigeria (CBN)due to the bank undergoing severe financial instability, which had been going on for a while before the CBN decided to take drastic action.

Due to the revocation of Heritage Bank’s license, its assets, such as buildings, cars, and many more, have been put up for sale by The Nigeria Deposit Insurance Corporation (NDIC).

The Nigeria Deposit Insurance Corporation (NDIC) is tasked with providing incentives for sound risk management in the Nigerian banking system. It contributes immensely to the financial system’s stability across the country.

In compliance with its duty as liquidator of Banks across the country, The NDIC has decided to put up critical assets of the license-revoked Heritage Bank for sale.

The NDIC released a list of Heritage Bank’s assets, including 48 properties, equipment, machinery, and many more assets spread across the nation. It has brought it to the public’s notice to attract potential buyers to purchase Heritage Bank’s assets.

The NDIC announced to the public its decision to put out all critical assets of the license-revoked Heritage Bank for sale and, calls on all potential customers to indicate interest in purchasing the bank’s assets, which comprises buildings, equipment, vehicles, machinery and other vital assets.

The NDIC revealed that the critical point is that prospective buyers should be ready for a bidding war among other prospective buyers and that the best bidder can purchase the assets.

The now license-revoked bank has buildings and branches which cut across different states in different areas of the country, and many of these buildings have been put up for sale by the liquidator of all banks, The NDIC.

Releasing further information on how prospective buyers are to go about making their purchase, NDIC disclosed that all bids should be officially sent to the office of the NDIC in Lagos with the condition of the initial payment of 10 percent of the interested property by the prospective buyer with proof.

Oluwarantimi Oludase
Oluwarantimi Oludase
Oludase Oluwarantimi Emmanuel is a budding writer and journalist. I have a flair for writing, which has developed more since I became an undergraduate. I have used my writing skills to contribute my quota through opinions that have been published on Guardian and Daily Trust and the Nigerian Voice where I work as an entertainment news journalist.

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