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...

READ MRS AISHA BUHARI'S MESSAGE FOR INTERNATIONAL WOMEN'S DAY 2020 TODAY.{PHOTO}.#PRESS RELEASE.

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    It gives me great pleasure to join my fellow women in Nigeria and around the World in celebration of this special day, the International Women’s Day (IWD). The 8th of March was set aside to celebrate women since the early 1900s. The occasion of International Women’s Day is not only meant to celebrate our achievements but to remind us of those crucial roles towards making the world a better place for humanity.
Women have come a long way since then; there is virtually no ceiling that women have not shattered, standing tall and shoulder to shoulder with their male compatriots. Our journeys and achievements are some good illustrations of the progress that we have made. We have cause to celebrate these accomplishments here in Nigeria. Women are in politics, elected into offices of the Parliament and the Executive, serving as top appointed Government officials, captains of industry and activists who have devoted their lives to improving the lives of other Nigerians.
We are also mothers, wives, sisters, daughters, friends, role models, co-workers, and equal stakeholders in project humanity. We are all these and even more. We work hard to keep our homes and our country safe and history has shown that societies are more prosperous and peaceful when women are more equal and have the rights and opportunities they deserve. As a country, we benefit greatly for every young girl that gets to go to school whose potentials get unlocked, every woman whose talent is tapped and utilized.
But despite these glowing accomplishments by Nigerian Women, the work is far from done; there are women who face challenges on a daily basis, from domestic violence, to sexual harassment in work places, to unequal economic opportunities and in some cases, some repugnant cultural setbacks for girls out of school that should be in school. So Change is hard and it is definitely slow but we will get there if we keep fighting and working together. We may not live to enjoy the shade of the trees we are planting today, just like our mothers and grandmothers before us, who could only dream of where we are today, but we will create that path for our daughters and sons to follow.To the extraordinary woman out there, I say stay strong and confident in whatever you are doing, you are not alone and thank you for being part of this amazing journey.
DR. MRS. AISHA MUHAMMADU BUHARI
FIRST LADY, FEDERAL REPUBLIC OF NIGERIA
STATE HOUSE,
ABUJA
8th March, 2020.
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