Notice to General Public for Disposal of Properties Belonging to Fortune Bank (IN-LIQ), United Commercial Bank (IN -LIQ) and Heritage Bank (IN-LIQ)
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 five (5 Nos.) Landed Properties belonging to defunct Fortune Bank (in- liq.), United Commercial Bank (in- liq.) and Heritage Bank (In-Liq.) situated across the country. The schedule dates for the organized auction exercise shall be staggered to accommodate adequate inspection and competition across the affected cities.
2. The scope of the exercise is the disposal of five (5 Nos) Landed Properties belonging to the defunct Fortune Bank (in- liq.), United Commercial Bank (in- liq.) and Heritage Bank (In-Liq.) across the country. The disposal exercise would be transparent to all interested bidders.
3. Bidders wishing to participate in the auction, shall follow laid down guidelines which is aimed at ensuring fair competition, accountability, equity and timeliness in line with the 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.
4. Landed Properties in the affected locations as listed below are to be auctioned therein. The property will be sold “as is “and “net “of all taxes.
5. The auction exercise shall be open to all interested bidders and shall take place at the five (5) locations as advertised and on the scheduled dates accordingly. The essence is to ease access to the properties for the bidders to participate from their respective locations
6. All interested bidders should submit their sealed bids with 10% bid security in Bank Draft at the designated and nearest, NDIC Zonal offices and at the NDIC Lagos Office, Asset Management Department, (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos. Failure to attach the 10% Bank Draft for bid security will render such bids submitted Null and Void. Please note that any winning bidders who fail to pay the balance of 90% within two (2) weeks shall forfeit 10% of the deposited bid security sum.
7. All financial bids should be dropped in the bid box provided for this purpose at the respective locations on or before the opening date. All interested bidders would be given opportunity for inspection on specific dates within one week before the scheduled date of auction.
8. For properties in Lagos and Abuja interested bidders would have opportunity to inspect the properties on Wednesday, 9th July, 2025 and Thursday, 10th July, 2025 prior to scheduled date of disposal from 10.00am-3:30pm.
9. For properties in South-South, interested bidders would have opportunity to inspect the properties on Thursday, 10th July, 2025 and Friday, 11th July, 2025 prior to scheduled date of disposal from 10:00-3:30pm.
10.1 South-West: For all properties located in Lagos state, sealed Bids should be dropped in the bid box on or before 10: 00am on the 16th of July, 2025 at Asset Management Department, NDIC Lagos Office, 23A Marina street, Mamman Kontagora House Marina Lagos. Opening Date: 16th July, 2025. Time: 11; 00am prompt.
10.2 South-South: For all properties located in Delta and Cross River states, sealed Bids should be dropped in the bid box on or before 1: 00pm on the 17th of July, 2025 at the NDIC Port-Harcourt Zonal Office, 104 Woji Road off Olu Obasanjo Road GRA Port-Harcourt. Opening Date: 17th July, 2025. Time: 2. 00pm prompt.
10.3 North-Central: For all properties located in FCT and Nasarawa states, sealed Bids should be dropped in the bid box on or before 10: 00am on the 16th of July, 2025 at the NDIC Corporate Head office, Plot 447/448 Constitution Avenue CBD Abuja. Opening Date: 16th July, 2025. Time: 11: 00am prompt.
11. For adequate guidance, the Corporation has posted the reserve price on the landed properties to the attention of all bidders.
12. All interested bidders and general public are invited to the bid sessions at the respective locations.
NDIC BANK PROPERTIES - RESERVE PRICES
NORTH-CENTRAL
Nasarawa
Fortune Bank (Agriculture premises), Jos Road, Lafia
Type of Asset: A Storey Building
Reserve Price: ₦295,244,985.00
SOUTH-SOUTH
Cross River
De Choice Fast Food Building, by Cultural Center, Calabar
Owner: Fortune Bank
Type of Asset: A Storey Building
Reserve Price: ₦217,800,000.00
Delta
79, Airport Road, By Bright Hope Junction, Warri
Owner: Fortune Bank
Type of Asset: A Storey Building
Reserve Price: ₦103,196,500.00
SOUTH-WEST
Lagos
No. 55B, Abosede Kuboye Street, Alaka Estate, Surulere
Owner: United Commercial Bank
Type of Asset: Semi-detached Duplex
Reserve Price: ₦102,500,000.00
No. 16, Blessing Kayode Street, Lekki Phase 1
Owner: Heritage Bank
Type of Asset: 3 Bedroom Semi-detached Duplex
Reserve Price: ₦198,050,000.00
Please be informed that there will be other channels of communication of this vital information.
For further enquiries, please contact:
Director, Asset Management Department,
Nigeria Deposit Insurance Corporation, Lagos Office Annex,
Mamman Kontagora House (9th Floor),
23A, Marina,
Lagos.
Toll free Number: 0800632424357/07044900842
Signed: Management Tell: 01-2719010; 01-4663400
Email: helpdesk@ndic.gov.ng