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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14 UNCOVERED ASSETS,NOT MINE,I HAVE ONLY N2.8M IN MY BANK ACCOUNTS- ABBA KYARI.(PHOTO).

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14 Uncovered Assets, Not Mine; I Have Only N2.8m In My Bank Accounts - Abba Kyari

The suspended Deputy Commissioner of Police, DCP Abba Kyari, has denied owning 14 assets, saying the uncovered assets linked to him by the federal government
are not his.

Besides, the former head of Police Intelligence Response Team, IRT, said contrary to report huge sums of money said to have been traced to his bank account, he has just N2.8 million in his UBA account and another N200,000 in his Sterling Bank account.

Kyari denial was contained in a statement reacting to reports in the media that 14 assets, including shopping mall, residential estate, polo playground, lands and farmland belonging to him were uncovered by the federal government.

In the statement by his lawyer, Barr. Hamza Dan Tani, claimed that,”All the allegations on monies and properties by NDLEA belonging to Abba Kyari are false, untrue and lies, just to mislead the public into wrongly believing that it belongs to Abba kyari.”

According to him, ”The business men who own those properties and gave their documents have already filed their cases against NDLEA in Federal High Court Maiduguri.”



 

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