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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EDO STATE IS A BLESSING TO NIGERIA-APC GOVERNORSHIP CANDIDATE,GODWIN OBASEKI.

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Image result for godwin obaseki                                                        Edo State,given its enormous natural and human resources,has been described as ''a great blessing to Nigeria''.The All Progressives Congress {APC},governorship candidate,Mr Godwin Obaseki,made the declaration in Benin Yesterday.In a press released issued by his Campaign Organisation in the state capital,Obaseki affirmed that he joined the governorship race because of the bountiful endowments of the State which he hoped to harness,if elected,for the development of the State.Obaseki expressed the plan that he will further harness all natural and human resources,so that,Edo State will continue to serve as a great blessing to Nigeria.He said that during his extensive campaign tour of the entire 18 local government areas of the state before and after the APC primaries,he saw an Edo State whose strategic location in the Nigerian federation is not to unite the country,according to him,but also to support the strategic intent of Nigeria to be ''a self-sustaining independent country''.''By this clear evidence'',Obaseki remarked,''Edo State becomes the root through which this objective could be attained''.The guber hopeful who called for the total support of the electorate in the coming election,assured that the viability of Edo State as an economic hub is no longer in doubt.''During my tour of the State,I saw from the beautiful mountain view of Ososo in Akoko-Edo through the busy Ilushin Waterside in Esan South East,down to the evergreen vegetation swaths of Ovia and Orhiomoron; I saw an Edo State that is so blessed by nature awaiting to be tapped further for a sustained economic growth and development''.He reiterated.
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