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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NASARAWA ASSEMBLY SETS AD-HOC COMMITTEE TO PROBE SALES OF GOVT PROPERTIES IN LAGOS, OTHER STATES.(PHOTO).

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Nasarawa Assembly Sets Ad-hoc Committee To Probe Sales Of Government Properties In Lagos, other States.

Nasarawa State House of Assembly, has set up nine man Ad-hoc committee to investigate alleged sales of state government properties in Lagos and other states by the then Administration of Umaru Tanko Al-Makura.

 Speaker of the House, Ibrahim Balarabe Abdullahi, announced the House resolution under the matter of Public interest during the House proceedings in Lafia. 

The Speaker has urged the committee to immediately proceed to Lagos to begin its investigation on the alleged sales of Nasarawa State Liason office in Lagos State, to unravel the alleged sales of government properties by the immediate past administration.

Alhaji Ibrahim Balarabe Abdullahi urged the committee to ensure that the right things are done in the interest of development.

He maitained that all those involved must be invited for clarification such as the office of the SSG , Accountant General and Board of Internal Revenue Service.

According to the Speaker, the committee will extend its investigation to status of government properties across the country and among individuals. 

The Speaker named Hon Larry Ven Bawa as Chairman of the committee.

Other members are Iliya Luka Zhekaba, Musa Ibrahim, Mohammed Omadefu, Suleiman Azara, Danladi Jatau, Saidu Gude, Mohammed Isimbabi, Mohammed Oyanki and Mr Ibrahim Musa, the Deputy Clerk is the Secretary of the committee.

He urged the committee to carry out its investigation without fear or favour.

Earlier, the Majority Leader of the House, Mohammed Adamu Omadefu, while raising the issue said that the protest in Lagos by indigenes of the state has tarnished their image.

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