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Disposal of Landed Property, Microfinance Banks (In-Liquidation)

NDIC 3 min read
Disposal of Landed Property, Microfinance Banks (In-Liquidation)

1.The Nigeria Deposit Insurance Corporation (NDIC), in the exercise of its statutory mandate as the Liquidator of failed banks under section 62(1)(d) of NDIC Act, 2023 as amended, wishes to invite the general public for the upcoming disposal of Landed Properties belonging to some Micro Finance Banks (In-Liquidation) at 18 locations the Southern part of the country.

Scope of Auction Exercise:

2. The disposal process of the landed properties belonging to the Micro Finance Banks (In-Liquidation) shall be in a transparent and competitive bid. Bidders who wish to participate shall follow laid down guidelines which is aimed at ensuring, fair competition, accountability, equity and timeliness in line with tenets of corporate governance principles to enable value for money with commensurate financial returns from the auction exercise for the payment of liquidation dividends to uninsured depositors and creditors accordingly.

3. Landed Property in the affected locations as listed below are to be be sold “as is’’ and “net of all taxes’’.

NDIC MICROFINANCE BANK PROPERTIES

AKWA IBOM

Prudential Co-Operative Microfinance Bank Limited

  • Km 5 Uyo-Ikot Ekpene Road, Essien Udom L.G.A — Bungalow

  • Itam Market, Uyo — Lock Up Shop

ANAMBRA

Aguleri Microfinance Bank Limited

  • Chief Idigo Road, Aguleri — 1 Story Building

Uli Microfinance Bank Limited

  • Off Onitsha Owerri Express Way, Chukwumeka Odumegu Ojukwu University (University Junction) — Bungalow

  • Opposite Uli Micro Finance Bank, by Army Check Point — Undeveloped Parcel of land (approximately 4,500m²)

CROSS RIVER

Ogoja Microfinance Bank Limited

  • 27 Mission Road, Igoli-Ogoja — Bungalow

  • Ishibori Market, Ishibori, Ogoja — Undeveloped plot of land (697.152m²)

  • New Agiga Layout, Barracks Road, No. 41, Mission Road, Igoli, Ogoja — 6 Lock-up Shops on land (approximately 4,806.916m²)

DELTA

IC-Global Microfinance Bank Limited

  • 91, NDC Road, Opposite Aggs Ozoro, Isoko North LGA — 3 Story Building

  • 40, Onasa Umusade, Opposite Ketstone Bank, Kwale, Ndokwa West LGA — Bungalow

  • 1, Ibrahim Kafas Road, Oleh, Isoko South LGA — 1 Story Building

Iyede Microfinance Bank Limited

  • 1, Palace Road, Ekreme Quarters, Otor Iyede, Isoko North LGA — 1 Story Building

IMO

Merit Microfinance Bank Limited

  • 21, Orlu Road, Amaigbo — 1 Story Building

OYO

Ifesowapo Microfinance Bank Limited

  • Okere Street, Oje Owode — Bungalow

Igangan Microfinance Bank Limited

  • No. 1, Community Bank Road, Isale Akao, Igangan, Ibarapa LGA — Bungalow

Reality Microfinance Bank Limited

  • Reality House, Oladele George Street By Ap Filling Station, Sawmill, Old Ife Road, Ibadan — Bungalow

RIVERS

Surelife Microfinance Bank Limited

  • Bara-Oote in Deeyor Town, in Khana Local Government Area — Undeveloped plot of land (697.152m²)

  • 42, School Road, Azuabie Okujagu–Ama, Port Harcourt — Undeveloped plot of land

4. The auction exercise shall be open and competitive to all bidders and shall take place at NDIC Lagos Office, Asset Management Department, (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos.

5. All interested bidders should submit their sealed bids with 10% bid security in Bank Draft in favour of the closed Micro Finance Bank and drop at the NDIC Lagos Office, Asset Management Department, (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos on or before 30th April, 2026. Failure to attach the 10% Bank Draft for bid security will render such bids submitted Null and Void.

6. Successful bidder would be give two weeks from the date of the bid opening to pay the balance of 90% of the bided amount. Please note that any successful bid that failed to make final payment within the stipulated time frame shall forfeit their 10% amount as penalty charges.

7. where they are sitting tenant or the property is on a long lease, the tenant OR lease holder would be given the right of first refusal- but subject to competitive bid.

8. Submitted bids will be opened in the presence of all bidders on Thursday 30th April, 2026 by 12 noon prompt at the meeting Room, NDIC Lagos Office, (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos.

For further enquiries, please contact:

Director, Asset Management Department,

Nigeria Deposit Insurance Corporation, Lagos Office Annexe,

(9th Floor), Mamman Kontagora House,

23A, Marina,

Lagos.

Tel No: 08035925533.

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