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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NIGERIAN ARMY TROOPS NEUTRALIZE TERRORISTS, RESCUE WOMEN AND CHILDREN. (PHOTOS). #PRESS RELEASE.

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 NIGERIAN ARMY TROOPS NEUTRALIZE TERRORISTS, RESCUE WOMEN AND CHILDREN



Gallant troops of 7 Division Nigerian Army have continued to pounce on the vestiges of the Islamic State of West African Province and their JAS counterpart in North East Nigeria. 


In an aggressive  clearance patrol conducted on Friday, 22 March 2024,  by a Combat Team (CT) of the Division, troops  successfully cleared 6 villages where terrorists hibernated with their hostages. 


During the operation, the CT came in contact with the terrorists and fiercely engaged them in a gun battle, eliminating 5  of the terrorists. The valiant troops also rescued 78 persons, comprising 35 women and 43 children held hostage by the terrorists.


The enclaves and villages cleared by the CT include Ngurusoye, Sabon Gari, Mairamri 1 and 2, Bula Dalo, and Bula Dalo extension. Other areas also cleared are Yamanci and Gargaji general areas. Items recovered are one terrorists' flag, a mobile phone belonging to the terrorists. The rescued victims are in custody for preliminary investigation and profiling. 


The troops have continued to maintain momentum in the ongoing Operations Desert Sanity III to rid the North East of terrorists and insurgents.


ONYEMA NWACHUKWU

Major General

Director Army Public Relations

23 March 2024.

More photos below. 





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