The failed bank assets valuation process received renewed focus on Friday as the Nigeria Deposit Insurance Corporation (NDIC) called for stronger collaboration with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to improve accuracy in asset assessment during bank liquidations.
NDIC Managing Director Oludare Sunday said the failed bank assets valuation exercise is critical because it influences how assets are priced and determines what depositors receive above insured limits.
He explained that accurate failed bank assets valuation ensures assets are sold at fair market value, which directly affects the recovery pool available for depositor payments.
Sunday noted that NIESV’s technical expertise strengthens the failed bank assets valuation framework by promoting transparency, fairness and value-for-money in asset disposal.
He added that NDIC is enhancing internal controls around the failed bank assets valuation process to reduce insider risks and improve accountability in liquidation operations.
ALSO READ
The clarification was contained in a statement by NDIC spokesperson Hawwau Gambo, who said the failed bank assets valuation discussions followed a courtesy visit by NIESV President Victor Adekunle Alonge and his team to the corporation’s headquarters in Abuja.
Gambo stated that NDIC is implementing a new Asset Management Policy to strengthen the failed bank assets valuation workflow, including identification, pricing procedures, disposal plans and strict post-sale recovery processes.
Sunday emphasised that continuous knowledge-sharing is essential to improving the failed bank assets valuation methodology and recommended joint NDIC–NIESV training in modern valuation techniques and sustainable asset management.
Responding, Alonge reaffirmed NIESV’s commitment to supporting the failed bank assets valuation process through high professional standards, strong ethics and a disciplinary system backed by law.
He assured that NIESV will continue providing technical guidance to NDIC to strengthen the failed bank assets valuation ecosystem and boost public confidence in bank resolution outcomes.
Both institutions noted that strengthening the failed bank assets valuation partnership is essential to improving Nigeria’s financial stability and ensuring transparent management of assets from failed banks.
