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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SUSPECT ARRESTED IN ALLEGED ARSON AT BERNIE SANDERS' VERMONT OFFICE. (PHOTO).

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 Suspect arrested in alleged arson at Bernie Sanders’ Vermont office


Sen. Bernie Sanders, I-Vt., talks to the media as he walks to the House chamber before President Joe Biden's State of the Union address at the U.S. Capitol Thursday, March 7, 2024, in Washington. Jose Luis


Authorities arrested a man Sunday in connection with an alleged arson at Sen. Bernie Sanders’ office in Vermont last week, according to the Justice Department. 

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