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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PROTESTERS STORMED INEC OFFICE IN LAGOS OVER THE POOR DISTRIBUTION OF PERMANENT VOTER'S CARD.

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            Today monday,protesters stormed INEC's office in Yaba,Lagos office at about 9:50 am with placareds protesting the attempt to dissenfranchise Lagosians by allegedly hoarding the permanent voters cards {PVC}.The protesters chanted solidarity songs and vowed that they would never allow elections to be rigged in the state.There was tight security as policemen armed with guns ensured that the protest did not degenerate into violence.Spokes person of the protesters Comrade Declan Ihekaire said Nigerians were afraid that INEC is planning to rig next year's election especially in states controlled by the All Progressives Congress {APC},which informed the hoarding of the PVC's from getting to the people.''INEC must ensure that the PVC'S get to the people and they should not attempt to rig the election.Those in power know that there will be protest votes in 2015 and that is why they are trying to rig the election.Another Group called TNG.also joined the protest and their Spokesperson,Comrade Olusola Odbiro called on INEC to extend the exercise by two weeks so that all Lagosians would get their PVC'S.One more photos below.                        

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