NDIC to Auction Assets of Failed Microfinance Banks

The Nigeria Deposit Insurance Corporation (NDIC) has unveiled plans to dispose of assets belonging to several closed microfinance banks through a nationwide public auction and competitive bidding process, as part of its statutory role as liquidator of failed financial institutions.
In an official notification, the Corporation invited interested members of the public to purchase a wide range of recovered assets, including furniture, fixtures, office fittings, equipment, generators, and motor vehicles. The disposal exercise is designed to ensure transparent realization of value from the failed institutions while supporting the settlement of insured depositors and other legitimate claims.

NDIC disclosed that the sales process will combine open public auction, competitive bidding, and sealed bid submissions—particularly for high-value assets such as vehicles and power generators—to guarantee fairness, accountability, and maximum recovery.

The auction and bidding window is scheduled to run from February 11 to February 20, 2026, with comprehensive details on participation procedures, asset listings, and bid requirements available on the Corporation’s official website.
Financial sector observers note that timely liquidation of assets from failed microfinance banks plays a critical role in preserving confidence in Nigeria’s banking ecosystem, strengthening depositor protection mechanisms, and reinforcing regulatory discipline within the microfinance subsector.

NDIC reaffirmed its commitment to due process, transparency, and stakeholder protection, urging prospective bidders to strictly follow published guidelines to ensure a smooth and credible disposal exercise.

NDIC has commenced the public auction and competitive bidding sale of assets recovered from failed microfinance banks across Nigeria. The February 11–20, 2026 exercise aims to recover value, protect depositors, and reinforce confidence in the financial system.

NDIC begins nationwide public auction and competitive bidding for assets of failed microfinance banks, targeting value recovery and depositor protection from February 11–20, 2026.