CBN REVOKES OPERATING LICENSES OF ASO SAVINGS AND LOANS PLC AND UNION HOMES SAVINGS AND LOANS PLC. (PHOTO).

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 CBN Revokes Operating Licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc The Central Bank of Nigeria (CBN) has revoked the operational licenses of two primary mortgage banks, Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing multiple regulatory violations and financial distress. In a press release issued today, the CBN stated that the action was taken under Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria. The move is part of broader efforts to reposition the mortgage sub-sector and enforce compliance with laws and regulations. The affected institutions were found to have breached various provisions, including: - Failure to meet the minimum paid-up share capital requirement for their license category. - Having insufficient assets to cover liabilities. - Being critically undercapitalized, with capital adequacy ratios below the CBN's prudent...

HISTORY OF IGBO-UKWU ARCHAEOLOGY.

Intricate bronze ceremonial pot, 9th century, Igbo-Ukwu, Nigeria.jpg                                                          While digging a well in his compound in Igbo-Ukwu in 1939,a villager named Isiah Anozie struck some objects.He them out,piled them against the wall of his hut and not realizing their importance,he invited his friends and neighbours to take any pieces they wanted.Months later,J.O Field,the colonial British district officer of the area,learned of the bronzes.He purchased most of them to keep them together and reported the finds in an anthropology journal publication.In the dry season of 1959-60,the site was excavated at the request of the Nigerian Federal Department of Antiquities.The excavation was led by Thurstan Shaw,the first trained archaeologist to work in British West African.He was assisted by Mallam Liman Ciroma.In 1964,Shaw and his team again excavated in Igbo-Ukwu this time for the Institute of African sturdies,University of Ibadan,where he had an appointment as Research Professor.The team dug in an area east of the previous finds,in the compound of Jonah Anozie.They named the site Igbo-Jonah which is the third site.In 1970,he published a two volume monograph on his findings,and later books that added to his scholarship.He established that the site was for the burials of Nri Elite,who was surrounded by grave goods of high quality.The bronze pieces were made by the sophisticated lost wax technique.Shaw demonstrated  by these finds that indigenious tribes had become highly sophisticated craftmen long before they had come into contact with Arabs or Europeans.More findings below.                                                                                   File:9th century bronze ceremonial pot, Igbo-Ukwu, Nigeria.JPGFile:Intricate ornamental staff head, 9th century, bronze, Igbo-Ukwu.JPGFile:Igbo Ukwu vessel.jpgFile:Igbo ukwu bronzes.jpg

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