The Nigeria Deposit Insurance Corporation (NDIC) has announced a competitive sealed-bid auction for the physical assets of Union Homes Savings & Loans, Heritage Bank, and Resort Savings & Loans, scheduled to take place on November 3 and 4, 2026.
The exercise aims to realize value from the defunct institutions’ furniture, office equipment, generators, motor vehicles, and machinery across designated locations in Lagos, Taraba, and Adamawa states.
Designated venues include Union Homes’ premises on Ikorodu Road in Onipanu and the NDIC warehouse in Oregun, Lagos, alongside locations in Jalingo and Yola.
Bidders are required to submit sealed bids accompanied by a certified bank draft covering a 10% deposit of the bid price, with successful buyers mandated to settle outstanding balances within 24 hours and evacuate acquired items within the same timeframe.
Financial institutions will receive preference during the sale, which will be conducted on an “as is” basis to contribute toward settling outstanding liquidation obligations.
