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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ICPC,NACT STAGE ROAD WALK AGAINST CORRUPTION. (PHOTOS).#PRESS RELEASE.

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ICPC, NACT Stage Road Walk against Corruption 

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and a civil society organization, Network Against Corruption and Trafficking (NACT) have staged a sensitisation road walk against corruption and trafficking in persons. 

The Road Walk which started from the Arts and Culture Complex in Garki,   ended at the Unity Fountain, opposite Transcorp Hilton, Abuja.

Assistant Commissioner, ICPC, Mrs. Ese Okwong, who led the Commission’s team at the occasion stated that the road walk was to create awareness on and against corruption in the country.

More photos below. 



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