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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ONWARD PAPER MILL'S FOUNDER HAS DIED AT THE AGE OF 91.(PHOTO).#RIP.

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ONWARD PAPER MILL's  founder has died.

Chief M.A. Obagun, the founder of Onward Paper Mill, has died at the age of 91.

He will be buried later today at his home town Poka in Epe according to Muslim rites.

If you attended school in Nigeria around the 80s and 90s, I am sure you used one of his exercise books with the following acronyms.

ONWARD BIG EXERCISE BOOK.

ONWARD: 
O - Ole
N - Ni
W - Wale
A - Aji
R - Ruler
D - Dada

BIG:
B - Baba
I - Iya
G - Gani

EXERCISE:
E - Ede
X - Xtimes
E - Ede
R - Remi
C - Coni
I - Iya
S - Segun
E - Elere

BOOK:
B - Boolu
O - Odabo
O - Odabo
K - Kayode

May the gentle soul of the Industrialist rest in peace.


 

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