Announcement-2

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NIGERIA DEPOSIT INSURANCE CORPORATION

Plot 447/448 Constitution Avenue, Central Business District, Abuja

E-mail: info@ndic.gov.ng, Website: www.ndic.gov.ng

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ADDENDUM: NOTICE TO GENERAL PUBLIC FOR DISPOSAL OF LANDED PROPERTY (WAREHOUSE) OF CITY EXPRESS BANK (IN-LIQUIDATION)    

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INTRODUCTION

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Furtherance to the public advertisement by the Corporation on Thursday March 6, 2025 find below an addendum on the last publication.

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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 Landed Property (Warehouse) at KM 8, Lagos Abeokuta Express Way, Abeokuta, Ogun State belonging to the defunct City Express BANK through Public Competitive Bidding.

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SCOPE OF DISPOSAL

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1.The scope of the exercise is the disposal of the landed property (Warehouse) belonging to the City Express Bank (In-Liquidation) located at KM 8, Lagos Abeokuta Express Way, Abeokuta, Ogun State. The disposal exercise would be competitive and transparent to all bidders.
2.Bidders who wish to participate shall follow laid down guidelines which is aimed at transparency, fair competition, accountability, equity and timeliness in line with tenets of corporate governance principles to enable recovery of commensurate financial returns from the auction exercise for the payment of liquidation dividends to uninsured depositors and creditors accordingly.
3.The Landed property (Warehouse) at KM 8, Lagos Abeokuta Express Way, Abeokuta, Ogun State is to be auctioned therein. The property will be sold “as is “and “net “of all taxes.
4.The auction exercise shall be open and competitive to all bidders and shall take place at the meeting room, NDIC Lagos office (9th Floor), Mamman Kontagora House, 23A, Marina, Lagos at the scheduled date accordingly.

INSPECTION

All interested bidders are invited to contact the Sales Agent Niyi Fatokun & Co 08034457511 for guided inspection of the property and for further inquiries.

BIDDING CONDITIONS

All interested corporate institutions or individual should submit their sealed Bids with 10% of the bid security in Bank Draft in favour of City Express Bank (In-Liquidation) in a sealed envelope with “BID FOR LANDED PROPERTY” Inscribed on the top left corner of the envelope at 9th Floor Mamman Kontagora House 23A, Marina Lagos. The bid should indicate Name, Address and Telephone Number of the bidder.

The 10% Bid security for the successful bidder will be retained by the Corporation and they will be required to pay the balance of the bid price within 30 days of notification while the Bid security for the unsuccessful bidders will be returned immediately.

All interested bidders should submit their sealed bids with 10% bid security in Bank draft at the designated bid submission address, failure to attached the 10% Bank draft for bid security will render such bids Null and Void.

SUBMISSION OF BIDS

All Bids should be addressed to The Director, Asset Management Department, Nigeria Deposit Insurance Corporation, Lagos Office, (9th Floor) Mamman Kontagora House, 23A, Marina, Lagos. And to be submitted not later than 11am. Monday 7th April 2025.

OPENING OF BIDS

Submitted bids will be opened immediately after the deadline for the submission at 11am, monday 7th April 2025. at the meeting room, NDIC Lagos Office, (9th Floor), Mamman Kontagora House, 23A, Marina Lagos.

For adequate guidance, the Corporation has posted the reserve price on the landed property (Warehouse) stood at N211,582,000.00 (Two Hundred and Eleven Million, Five Hundred and Eighty-Two Thousand Naira Only).

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For enquiries, please contact:

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                    The Director,

                      Asset Management Department,

                      Nigeria Deposit Insurance Corporation,

                      Mamman Kontagora House,

                      23A Marina Lagos.

                      Help Desk: 080063624357

                      Email: helpdesk@ndic.gov.ng

                      Instagram: ndicnigeria

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Signed:

MANAGEMENT