Come and Buy: NDIC Releases List of Heritage Bank's Properties for Sale, Gives Steps To Buy

Come and Buy: NDIC Releases List of Heritage Bank's Properties for Sale, Gives Steps To Buy

  • The NDIC has announced some of the assets of the failed Heritage Bank for the public to buy in a competitive bidding process
  • The Central Bank of Nigeria tasks the corporation to liquidate the bank and also compensate customers
  • Some of the assets for sale include landed property and chattels located around Victoria Island of Lagos journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigeria Deposit Insurance Corporation (NDIC) has released a list of Heritage Bank assets across the country for sale.

The assets, announced to the public via advertisements in newspapers, are open to anyone interested.

Heritage bank assets for sale
Heritage Bank assets to be old as customers await full compensation. Photo credit: Heritage Bank
Source: Getty Images

The sale of the properties followed the revocation of Heritage Bank's license by the Central Bank of Nigeria and the NDIC's task to liquidate the bank.

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Heritage Bank properties for sale

Heritage Bank properties listed for sale include the head office in Lagos branches and several buildings nationwide.

There are 48 properties and their chattels, including vehicles, office equipment, plants, and machinery, in 62 locations.

Part of the advertorial reads:

“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."

List of properties for sale

  • Head Office and Annex: Location: 143 Ahmadu Bello Way and 130 Ahmadu Bello Way, Victoria Island, Lagos
  • Items for sale include: Buildings, Chattels, Generator, Motor Vehicle
  • Branches for Sale in Lagos(Six)
  • Branches for Sale in Abuja(Four)
  • Branches for Sale in Rivers State (Four)

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How to buy Heritage Bank properties

Punch reports that interested parties looking to purchase Heritage Bank's properties are invited to inspect the assets and submit bids to the NDIC office in Lagos.

Bids are expected to come in with 10% of the bid amount in Certified Bank Draft.

Successful bidders must pay the bid price balance within two weeks of notification.

NDIC issues steps for customers of Heritage Bank to get a refund previously reported that the NDIC has disclosed that depositors who provide the required documentation will receive their insured sum within a week.

The CBN appointed NIDC as the liquidator in line with the provisions of the law.

NDIC said that Heritage Bank depositors with alternative bank accounts will be paid up to the insured amount of N5 million per depositor using their Bank Verification Number (BVN) to find alternative bank accounts.


Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: