NDIC
NIGERIA DEPOSIT INSURANCE CORPORATION
PROTECTING YOUR BANK DEPOSITS

SALE OF AN UNDEVELOPED PLOT OF LAND BELONGING TO THE DEFUNCT HERITAGE BANK BY PUBLIC AUCTION/PUBLIC COMPETITIVE BID

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, hereby invites interested members of the general public to buy an Undeveloped Plot of land measuring about 2,053.28sqm located at Engineering Close, Victoria Island, Lagos State, belonging to the defunct Heritage Bank through PUBLIC COMPETITIVE BIDING:

BIDDING CONDITIONS

* 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.
* Certificate of Incorporation, Forms CAC 2 and CAC 7 (Statement of Share Capital and Particulars of Directors) are mandatory requirement for Corporate bodies willing to participate in the bid exercise.
* However, Private individuals who are also interested in the disposal exercise are eligible based on submission of letter of introduction from their respective bank to be attached to the 10% bid security draft.
* Bids together with 10% of the bid amount in Certified Bank Draft in favour of Heritage Bank (In-Liquidation) should be submitted in a Sealed envelope with “BID FOR LANDED PROPERTY” inscribed on the top left corner of the envelop. The bid should indicate Name, Address and Telephone Numbers. The 10% Bank Draft for the successful bidder will be retained by the Corporation and they will be required to pay the balance of the bid price within two weeks of notification while the Bank Draft for unsuccessful bidders will be return immediately. The property is sold “as is” and “net” of all taxes.

SUBMISSION OF BIDS

Bids should be drop in a box to be provided at NDIC Lagos Office, (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos on or before 10.30am.

OPENING OF BIDS

Submitted bids will be opened in the presence of all bidders on Thursday 21st July, 2026 by 11.00am 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 Annex, Mamman Kontagora House (9th Floor), 23A, Marina, Lagos.
Tel No: 08035925533.