NDIC Places Properties Of Eight Liquidated Microfinance Banks For Sale

The Nigeria Deposit Insurance Corporation (NDIC) has opened the bid process for the auctioning of the properties of eight liquidated microfinance banks.

NDIC made the disclosure in a notice titled, ‘Sale Of Assets Of Closed Micro Finance Banks By Public Auction And Public Competitive Bid.’

The affected microfinance banks are, Apeks Microfinance Bank Limited in Kwara; Alkaleri Microfinance Bank Limited, Bauchi; North Capital Microfinance Bank Limited In Katsina; Ogoja Microfinance Bank Limited in Cross River; Otukpo and Microfinance Bank Limited, Benue.

Others are Prudential Co-Operative Microfinance Bank Limited, Akwa Ibom; Suisse Microfinance Bank Limited, Lagos and Vibrant Microfinance Bank Limited in Delta.

The NDIC said the sale is in exercise of its right as liquidator of failed microfinance banks.

It said interested buyers will deposit 10 per cent of the bid price in a certified bank draft in favour of the respective microfinance bank.

According to the NDIC, the 10 per cent draft for the unsuccessful bidders would be returned.

Recall that the NDIC had commenced payment of N16.18bn to customers of failed banks.

The payment is sequel to earlier payment of various sums which cumulatively amounted to N45.45bn as liquidation dividends in respect of the 20 banks as at July 2023.

The NDIC had also made recoveries from debtors and realised assets of banks in liquidation.