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Disposal of Landed Properties and Other Physical Assets, Defunct Primary Mortgage Banks

NDIC 3 min read
Disposal of Landed Properties and Other Physical Assets, Defunct Primary Mortgage Banks

The Nigeria Deposit Insurance Corporation (NDIC), in the exercise of its statutory powers as liquidator of failed banks under section 62(1)(d) of NDIC Act, 2023 as amended, wishes to draw the attention of the general public for the upcoming disposal of landed properties belonging to Aso Savings & Loans and Union Homes Savings & Loans, at three (3) affected locations across the country. The scheduled dates for the bid opening exercise is Thursday, 2nd July, 2026.

  1. The scope of disposal will be for the bidding of landed properties belonging to Aso Savings & Loans and Union Homes Savings & Loans (In-Liquidation) across the country. Buyers who wish to participate shall follow laid down guidelines which is aimed at transparency, fair competition, accountability, equity and timeliness in line with the tenets of corporate governance principles to enable recovery of commensurate financial returns from the auction exercise for the payment of liquidation dividends to uninsured depositors and creditors accordingly.

  1. The exercise is the disposal of three (3) Landed Properties belonging to the defunct Aso Savings & Loans and Union Homes Savings & Loans across the country. The disposal exercise would be transparent to all interested bidders.

  2. Landed properties in the affected location as listed are to be disposed therein. The property will be sold “as is “and “net “of all taxes.

  3. The bidding exercise shall be open and competitive to all bidders and shall take place at the Mamman Kontagora House, 23A Marina, Lagos.

  4. Where the property is being occupied, the sitting tenant would be given preference of first refusal before other bidders can be considered.

  5. All interested bidders should submit their sealed bids together with 10% bid security in Bank Draft at the NDIC Lagos Office, Asset Management Department, (9thFloor), Mamman Kontagora House, 23A, Marina, Lagos. Failure to attach the 10% Bank Draft for bid security will render such submitted bids Null and Void. Please note that any winning bidders who failed to pay the balance of 90% within two (2) weeks shall forfeit the deposited 10% bid security sum.

  6. All financial bids should be dropped in the bid box provided for this purpose on the 9thfloor, Mamman Kontagora House, Marina Lagos on or before Thursday, 2nd July, 20262 by 10 am prompt while the bid opening shall be by 11 am prompt.

  7. All interested bidders and general public are invited to the bid opening session at the designated location.

Find below the detailed locations of the Landed Properties.

S/N

BANK NAME

STATE

DESCRIPRTION

LOCATION

1.

ASO SAVINGS & LOANS

Abuja

Fully Detached 1-Story Building and a boys Quarters including Chattels

No 9, Ogbomosho Street, Area 8, Garki, Abuja.

2.

ASO SAVINGS & LOANS

Abuja

A Fully Detached Bungalow

Plot No. 341B Kuje Action Layout, Kuje Area Council, Abuja.

3.

UNION HOMES SAVINGS & LOANS

Oyo

Fully Detached 1-Story Building and a boys Quarters including Chattels

32 New Court Road, Old Gbagi Market, Ibadan North-West LGA, Dugbe, Ibadan

 

For further enquiries, please contact:

Director, Asset Management Department,

Nigeria Deposit Insurance Corporation, Lagos Office,

Mamman Kotangora House (9th Floor),

23A, Marina,

Lagos.

Tel No: 08035925533

Lagos Office

 Signed: Management

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