NDIC Takes Over 3,000 Plots of Land Owned by Another Failed Bank
- NDIC has published the locations of over 3,000 plots of land belonging to the failed Ahocol Savings and Loans
- Although not much is stated about the bank, NDIC said the properties are now vested in its country as part of asset recovery efforts
- The Corporation is established by the government to protect depositors against the loss of their insured deposits placed with member institutions
Legit.ng 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 officially announced that several housing estates previously owned by the defunct AHOCOL Savings and Loans Limited are now vested in the Corporation, following the financial institution’s liquidation.
Source: Facebook
In a public notice obtained from its website, the NDIC stated listed housing estates were assets of AHOCOL Savings and Loans, which is currently undergoing liquidation.
As the appointed liquidator, the Corporation now holds legal ownership of these properties and has assumed full responsibility for their administration.
The statement read:
"The public is hereby notified that the following housing estates listed below are owned by Ahocol Savings and Loans (in liquidation).
"These properties are vested in the Nigeria Deposit Insurance Corporation (NDIC) as liquidator of the defunct bank."
Although the NDIC did not disclose details about AHOCOL Savings and Loans, it listed about 22 land locations with 3,122 plots that it is now taking over from the company.
Source: Getty Images
The land locations are as follows:
- AHOCOL Udomaka Housing – Isuanaocha – 186 plots
- AHOCOL Chikwadolu Housing – Isuanaocha – 34 plots
- AHOCOL Chukwuemeka Phase I – Mgbakwu – 514 plots
- AHOCOL Chukwuemeka Phase II – Mgbakwu – 126 plots
- AHOCOL Chukwuemeka Phase III – Mgbakwu – 144 plots
- AHOCOL Chukwuemeka Phase IV – Mgbakwu – 108 plots
- AHOCOL Chukwuemeka Phase V – Mgbakwu – 55 plots
- AHOCOL Ifedioranma Phase I – Mgbakwu – 155 plots
- AHOCOL Ifedioranma Phase II – Mgbakwu – 55 plots
- AHOCOL Green Housing Phase I – Mgbakwu – 141 plots
- AHOCOL Green Housing Phase II – Mgbakwu – 16 plots
- AHOCOL Millennium Phase I – Urum – 159 plots
- AHOCOL Millennium Phase II – Urum – 57 plots
- AHOCOL Oriental Super Housing – Aguleri – 147 plots
- AHOCOL Aladinma International – Isiagu – 509 plots
- AHOCOL Ikemba Super Habitat I – Mgbakwu – 62 plots
- AHOCOL Ikemba Super Habitat II – Mgbakwu – 23 plots
- AHOCOL City Pride – Isiagu – 428 plots
- AHOCOL University Campus Phase I – Ukwulu – 66 plots
- AHOCOL University Campus Phase II – Ukwulu – 66 plots
- AHOCOL Legacy Housing Estate Phase I – Mgbakwu – 54 plots
- AHOCOL Legacy Housing Estate Phase II – Mgbakwu – 17 plots
Heritage Bank liquidation
Ealier, Legit.ng reported that NDIC announced that Heritage Bank customers who had more than N5 million in accounts before it closed will start getting part of their money back in April.
For months, these customers have been unsure about their funds after the bank suddenly shut down.
The decision comes after the bank’s depositors appealed to the National Assembly to intervene and advise the CBN to promptly pay all depositors in full.
The Central Bank of Nigeria (CBN) withdrew Heritage Bank’s licence on June 3, 2024, due to financial problems.
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Source: Legit.ng
