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...
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FASHOLA TO SLASH LASU SCHOOL FEES.

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                 According to a national newspaper,Governor Babatunde Fashola,of Lagos state says students of the Lagos State university LASU ,were not against the hike in their school fees going by the position paper,presented by the students.He claimed the students were against the parameters used in calculating the fees,ut gave hint that his administration might slash the school fees to make the students happy.''We are not inflexible,we will make adjustment or amendment where there's need for better understanding''.He also said government who decided that the new fee was not going to affect sitting students but only new intakes adding that in consideration of qualified but indigent students,government also increased it's budget for scholarships and bursaries from N700 billion,to about N1.2-1.3 billion in order to ensure that no child was left behind.

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