The Nigeria Deposit Insurance Corporation (NDIC) has opened the bid process for auctioning of the property of eight liquidated microfinance banks.
NDIC disclosed this through 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 State; Alkaleri Microfinance Bank Limited, Bauchi State; North Capital Microfinance Bank Limited in Katsina State; Ogoja Microfinance Bank Limited in Cross River State; Otukpo and Microfinance Bank Limited, Benue State.
Others are Prudential Co-Operative Microfinance Bank Limited, Akwa Ibom State; Suisse Microfinance Bank Limited, Lagos (owned by Christ Embassy Church) and Vibrant Microfinance Bank Limited in Delta State.
The NDIC said the sale is in exercise of its right as liquidator of failed microfinance banks.
It said interested buyers would 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.
Meanwhile, the NDIC has commenced payment of N16.18billion to customers of the failed banks.
The payment is a sequel to earlier payment of various sums, which cumulatively amounted to N45.45billion as liquidation dividends in respect of the 20 banks as at July 2023.