Juliet Jacob 
ABUJA, Nigeria – The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of a nationwide disposal process for the physical assets and landed properties of the now-defunct Heritage Bank Limited, assuring the public that the auction will be conducted with full transparency and competitive fairness.
In a statement issued on Tuesday, the Corporation described the sale as an essential step in fulfilling its statutory duty as liquidator of failed banking institutions under the NDIC Act 2023.
“This disposal exercise will be executed in a transparent and competitive manner to ensure broad participation and optimal value recovery,” the NDIC noted. It invited reputable corporate organisations, consortia and private investors with proven financial capacity to participate.
The Corporation stated that assets will be sold strictly on an “as-is” basis, with interested bidders required to submit sealed offers backed by 10 percent bid security in bank draft payable to Heritage Bank (in liquidation).
Property inspections will take place across zonal locations between 12 and 14 November 2025, with auctions scheduled for 20–21 November.
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