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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SECURITY: GOV. MAKINDE OF OYO STATE MEETS HIS KWARA STATE COUNTERPART,AABDULRAZAQ.{PHOTOS}.#PRESS RELEASE.

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This afternoon, we held a joint security meeting with His Excellency @RealAARahman, Gov of Kwara State, heads of security agencies and traditional rulers from both Oyo and Kwara states. We commended the security agencies for their efforts so far and encouraged them to do more.
We agreed to set up a working team in the next few days for both Oyo and Kwara states to address security issues including the displacement of some residents of Igangan to Kwara State.
We resolved that the traditional rulers in both states would be involved in our intelligence gathering efforts by disclosing information to the security agencies to enable us stay on top of the security situation.
We also agreed that the National Livestock Transformation Plan which is already being implemented in Kwara State would be implemented in Oyo State leading to further collaborations between both states on economy and security. -Governor Seyi Makinde of Oyo state
More photos below.


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