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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I DID NOT IMPORT ANY VEHICLE,THE VEHICLE IS NOT MY PERSONAL CAR-SARAKI CRIED OUT TODAY.{READ}.

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Image may contain: 1 person                Senate President Bukola Saraki is speaking up about the customs duty controversy.He wrote on his social media today that ''Today is another great day in the history of our growing democracy,as I present myself before the Senate Committee on Ethics,Privileges and Public Petitions on allegation of non Payment of customs duty on an Official Vehicle by Senate.As the President of the 8th Senate and Senator from Kwara Central,I am proud of the Senate as an institution and its Constitutional role to represent the interests of the Nigerian people.Further,I am proud to honor and respect the Senate Rule Book that guides our conduct and activities,which is why today I am presenting myself before the Nigerian Senate Committee.We must continue to strenghten all our institutions so that they can carry out their mandates.This preferable and beneficial than strengthening individuals.We must find ways to guard the institution and ourselves against those who wish to diminish or rubbish institutional and individual's reputation because of 5 minutes of fame.They try to bring everyone else down while grandstanding.I did not import any vehicle,I did not ask anybody to act on my behalf.The vehicle is not my personal car.We raised the issue on the customs policy based on interest of Nigerians.But those who want to fight the Senate for raising the issue against the retroactive application of the newly introduced policy on duty,chose to fight back using this channel.I urge the ethics committee to protect this institution of the Senate so that it is not ridiculed for political reasons.
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