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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'DO YOU WANT TINUBU DEAD? '- ONANUGA TACKLES OBI OVER COMMENT ON PROPROSED AIRCRAFT PURCHASE. (PHOTO).

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 ‘Do you want Tinubu dead?’ — Onanuga tackles Obi over comment on proprosed aircraft purchase


Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, has berated Peter Obi over his comments on the proposed purchase of a new presidential aircraft.


Recently, the house of representatives committee on national security and intelligence asked the federal government to purchase new aircraft for President Bola Tinubu and Vice-President Kashim Shettima.


The committee’s recommendation was contained in a report released after an investigation into the status of the aircraft in the presidential air fleet.


On Monday, Obi, the Labour Party (LP) presidential candidate in the 2023 election, faulted the proposal, saying it highlights the disconnect between the government and the people.


Obi said the proposal is unacceptable, adding that there is need for a more compassionate use of resources and prioritising citizens’ welfare.


Speaking with Punch, Onanuga said the purchase of another aircraft is a necessity.


He added that the proposal is a “basic thing any sane government will do” because it cannot toy with the president’s welfare.


“Does Peter Obi want the President dead? Is that his wish? Does he want him to continue moving around in a rickety plane and die like the VP of Malawi and Iran President? Let him tell us,” Onanuga said.


“The plane he used now, I learnt, was bought during (former President) Obasanjo’s era. That was over 20 years ago and I learnt it was a very small plane.


“The plane developed a problem the last time he travelled to Saudi Arabia. The President had to go from there to the UK on a commercial airline. Even those managing them said the aircraft needed to be replaced.”

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