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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SUSPECTED PHONE THIEF SET ABLAZE IN CALABAR. (PHOTO).

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Suspected phone thief set ablaze in Calabar 

10 April 2023 

A 22 years old boy simply identified as Eyo, has been set ablaze by an angry mob at Esu street off Edim Otop street , Atimbo , Calabar Municipality LGA of Cross River state.

An eyewitness who pleaded anonymity said that Eyo stole the android phone yesterday evening and vanished only to resurface Sunday morning to meet his waterloo.

According to multiple sources, Eyo who resides around Second transformer, Inyanghasang has been involved in petty stealing for a very long time.

“I have known Eyo from secondary school, he has always been stealing,  there was a time he stole half of the class school fees.

“Even as we grew into our 20s , Eyo  became audacious in stealing and more notorious, he was always caught stealing, this is not the first time they tried to mob him, it’s unfortunate that he got unlucky today.

“They started beating him with cutlass and gave him deep cuts before setting him ablaze, funny enough, it’s just for stealing an android phone,” the source said.

When contacted, the Police Public Relations Officer,PPRO,  SP Irene Ugbo who  confirmed the incident to Vanguard said it was unlawful for anyone to take law into their hands .

Ugbo added that the rightful thing to do was the report the suspect to the nearest police station and him over instead of killing him in the most gruesome manner.

“The mob action action against the suspect was illegal, barbaric and highly unacceptable, he should have been handed over to the police,” she said.  


 

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