FUTA Takes Over Defunct Heritage Bank Building from NDIC

The Federal University of Technology, Akure (FUTA), has formally taken over the office complex of the defunct Heritage Bank located within the university community, following a handover facilitated by the Nigerian Deposit Insurance Corporation (NDIC).

The transfer, which forms part of the bank’s liquidation process, was conducted by NDIC officials, with Mr. Yakubu Hamza representing the corporation at the ceremony. He formally presented the keys and relevant ownership documents of the facility to the university management, marking the completion of the handover.

Receiving the property on behalf of the Vice-Chancellor, Prof. Adenike Oladiji, the Deputy Vice-Chancellor (Development), Prof. Sunday Oluyamo, expressed appreciation to NDIC for ensuring a smooth and transparent transition. He noted that while NDIC could have retained the property, the corporation chose to make it available to FUTA at a reasonable cost, a gesture the university described as supportive and forward-looking.

Prof. Oluyamo stated that the acquisition of the building would contribute to FUTA’s ongoing infrastructural development efforts and reaffirmed the university’s readiness to explore future collaborations with NDIC for the mutual benefit of both institutions.

Also present at the ceremony were FUTA’s Registrar, Mr. Charles Adeleye; the Head of the Legal Unit, Barrister Ayodeji Omofolarin; and other senior university officials.

The takeover of the former Heritage Bank complex adds to FUTA’s growing asset base and underscores its strategic approach to expanding facilities in support of academic and administrative functions.