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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5 APC CAUCUS LEADERS ARRAIGNED FOR HOOLIGANISM IN OSUN.[PHOTO]..

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5 APC Caucus Leaders Arraigned For Hooliganism In Osun


The Caretaker Secretary of the All Progressives Congress (APC) in Osun State, Rasaq Salinsile and former Chairman of the party, Adelowo Adebiyi and five others have been arraigned before an Osogbo Magistrate’s Court.


Other five persons who were also arraigned; former Commissioner for Works and Transports, Kazeem Salami, former Commissioner for Youth, Sports and Special Needs, Com. Biyi Odunlade, former Commissioner for Environment and Sanitation, Hon Idowu Korede, one Alaba Popoola and Azeez Adekunle.


The suspects are leaders of a caucus group in the Osun chapter of the APC.


According to the charge sheet, the defendants were on August 14, at about 1:30 pm at Ogo Oluwa, Osogbo allegedly assaulted one Hamzat Lukman Babatunde by hitting him with stones on his head.


The stalwarts of APC were also charged for allegedly assaulting another person, Ajetumobi Muldeen by hitting him with parts of broken plastic chairs on his head, which caused him harm


The defendants pleaded not guilty to the three-count charge labelled against them.


The case was adjourned till September 24.

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