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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COURTESY CALL ON THE IGP TODAY BY THE NIGERIA MARITIME OFFICIALS.{PHOTOS}

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Image may contain: 9 people, people smiling, people sitting              Courtesy call on the Inspector General of Police, IGP Ibrahim K. Idris NPM, mni by the Presidential Committee on the implementation of the Harmonized standard operation procedures on Arrest, Detention and Prosecution of Vessels and Persons in Nigeria’s Maritime Environment at the Force Headquarters, Abuja on 16th August, 2017.More photos below.
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