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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LAGOS STATE HOUSE OF ASSEMBLY COMMENDS LAGOS STATE POLICE COMMAND.(PHOTO).#PRESS RELEASE

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LAGOS STATE HOUSE OF ASSEMBLY COMMENDS
LAGOS STATE POLICE COMMAND

The Honorable Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr) Mudashiru Ajayi Obasa has, on behalf of the Lagos State House of Assembly, commended the Commissioner of Police, Lagos State Command, CP Idowu Owohunwa and the entire Command for the Command’s manifestation of ‘competence, zeal, commitment and dedication to service.’

The speaker hinged the commendation on the recent arrest of the suspected killers of Mr Sani Olaniyi, a senior aide to Senator Solomon Olamilekan Adeola, who was murdered by a notorious gang of armed robbers on Saturday, August 5, 2023, amongst other recent achievements.

Rt. Hon. Obasa who conveyed his commendation in a letter signed by the Clerk of the House, O.B Onafeko, further expressed his confidence in the Lagos State Police Command, under the leadership of CP Owohunwa, to continue to ‘discharge its duties creditably well.’

CP Owohunwa, while appreciating the vote of confidence reposed in him, notes that the commendation has no doubt reinvigorated the morale of officers and men of the Command. The CP equally assures the Speaker, entire House and Lagosians in general of the unwavering commitment of the Command under his watch towards ensuring the safety and security of all residents and visitors to Lagos State, on a sustainable basis.

SP BENJAMIN HUNDEYIN, anipr, mipra
Police Public Relations Officer,
Lagos State Command,
Ikeja-Lagos. 

October 9, 2023.

 

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