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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POLICE KILL BANDIT,ARREST TWO OTHERS IN KADUNA.(PHOTO).

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Police Kill Bandit, Arrest Two Others In Kaduna

Kaduna Police Command said that its men have neutralised one bandit at Rigachikun Area of Chikun Local Government and arrested two others at Samina area.
While noting that some of the suspected bandits escaped with bullet wounds, the Command stated an AK47 rifle, a locally fabricated General Purpose Machine Gun with 10 rounds of life ammunition was recovered by its men during the raid on the suspected criminals.

The Police Public Relations Officer, DSP Muhammad Jalige in a statement said operatives attached to Rigachikun Division on 14th January, 2023 at about 0100hours received a distressed call that armed bandits have invaded the residence of one Umar Ibrahim at Amana Maimadachi village with the view to carrying out nefarious activities.

According to Jalige, upon receipt of the distress report, the crack operatives alongside other local security stakeholders swiftly mobilized and moved to the location where they engaged the bandits and thwarted their attempt to kidnap law abiding citizens.

“In the tactically executed operation, one of the armed bandits clad in military camouflage uniform was neutralized, while others escaped with serious gunshots injuries. A serviceable AK47 rifle loaded with four (4) rounds of live ammunition was recovered from the neutralized bandit.

“In a related development, Operatives of the Command attached to Saminaka Division acted on credible information and launched a successful operation on the 13th January, 2023 at Warsa Piti Area of Saminaka Lere LGA where they arrested two bandits, namely; (1) Dauda Yusuf ‘m’ 35yrs, and (2) Sani Ibrahim ‘m’ 30yrs.

“When a thorough search was conducted on them, a locally fabricated GPMG rifle with its six (6) rounds of live ammunition and a Dane gun were equally recovered.

“Upon preliminary investigation, the suspects confessed to the ownership of the weapons and are currently assisting the Police in investigation at the end of which they will be charged to court.”


 

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