DEADLINE: 15TH JANUARY, 2026
NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC)
PLOT 447/448 CONSTITUTION AVENUE, CENTRAL BUSINESS DISTRICT, ABUJA
EMAIL: info@ndic.gov.ng,
WEBSITE: www.ndic.gov.ng
INVITATION TO BID FOR DISPOSAL OF LANDED PROPERTIES OF GULF BANK PLC (IN-LIQUIDATION)
The Nigeria Deposit Insurance Corporation (NDIC), in exercise of its statutory mandate as the Liquidator of failed banks under Section 62(1 )(d) of the NDIC Act, 2023 (as amended), hereby invites interested members of the general public to participate in the disposal of landed properties of Gulf Bank PLC (In-Liquidation).
The defunct bank’s assets, which consist of 16No. unit of 3-bedroom flat, 8No. unit of 2-bedroom flats and 24No. unit of 1-bedroom flats are located within Bola Ahmed Tinubu, LSDPC Estate, Odonla, Ikorodu, Lagos.
All interested bidders are invited to note the following:
(1) Auctions shall be conducted in transparent and competitive manner with Interested bidders required to adhere strictly to the prescribed guidelines.
(2) The process is open to all reputable individuals and corporate entities with proven financial capacity.
(3) The landed properties, which are listed in the following schedule, shall be sold on an “as-is” basis and net of all taxes.
(4) Each bid must be sealed and accompanied by the following:
(a) 10% of the bid value in bank draft drawn in favour of Gulf Bank (in liquidation), as bid security.
(b) A letter of introduction from a licensed commercial/merchant or specialized bank, confirming the financial capacity of the bidder or other verifiable proof of funds.
(c) For corporate bidders, a profile of the company, including the Corporate Affairs Commission registration and 3 years’ tax clearance certificates (if applicable).
(d) For private individual bidders, the requirements in ‘a’ and ‘b’ above suffice.
(5) Bids without the required 10% bank draft will be rendered invalid.
(6) Bids can be submitted at the designated NDIC, Zonal Offices or the Corporation’s Asset Management Department (9th Floor), Mamman Kontagora House, 23A Marina, Lagos.
(7) Successful bidders who fail to make the final payment within the stipulated time frame shall have their bids invalidated and forfeit their 10% bid-security
(8) Shall be given the opportunity to inspect the properties from 5 to 6 January, 2026, (10.00am to 3.30pm)
(9) Where a property has a sitting tenant, such occupant shall be granted the right of first refusal, subject to meeting the amount of the winning competitive bid.
(10) All interested bidders and members of the general public are invited to attend the bid-opening session on Thursday, 15 January, 2026, at 11.00am prompt at NDIC Lagos Office (Asset Management Department, 9 Floor), Mamman Kontagora House, 23A Marina, Lagos.
(11) For further inquiries, please contact:
Director, Asset Management Department,
Nigeria Deposit Insurance Corporation,
Lagos Office Annex,Mamman Kontagora House (9th Floor),
23A, Marina, Lagos.
Tel No: 08029997846 & 08062616662
Toll-free Number: 0800632424357/07044900842
Tel: 01-2719010; 01-4663400
Email: helpdesk@ndic.gov.ng
SIGNED
MANAGEMENT
