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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ISRAEL, HEZBOLLAH ON 'BRINK' OF ALL-OUT WAR, OFFICIALS WARN. (PHOTO).

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 Israel, Hezbollah on 'brink' of all-out war, officials warn



Israeli officials warned that the country is on the "brink" of a full-scale war with Hezbollah if the terrorist group continues to increase its aggression in northern Israel.


The Israeli Defense Forces (IDF) made the warning on Sunday, just a day before Israeli Prime Minister Benjamin Netanyahu was set to meet with Amos Hochstein, a top aide to President Biden. Biden's administration is pushing Israel to avoid a war in Lebanon, but IDF officials continue to highlight the outsized threat posed by Hezbollah compared to Hamas.


"Hezbollah's increasing aggression is bringing us to the brink of what could be a wider escalation," an IDF spokesman warned Sunday.


Israeli Defense Minister Yoav Gallant echoed the statement in his own talks with Hochstein on Monday.



"We are committed to the diplomatic process, however Hezbollah’s aggression is bringing us closer to a critical point in the decision-making regarding our military activities in Lebanon," he told the Biden representative.



Hochstein later met with both Netanyahu and Israeli President Isaac Herzog. Both Israeli figures thanked Hochstein for meeting with them but made no promises regarding a war in Lebanon.


Israel did not offer details about their conversations.


As the war in Gaza continues, Israeli sources have highlighted the threat that Hezbollah poses compared to Hamas. The Gaza Strip terror group has relatively few resources and has largely been dismantled by the IDF since the Oct. 7 massacre in Israel.


Hezbollah, however, is far more well-equipped and has more manpower. Their rockets and drone attacks have already forced over 100,000 Israelis to evacuate their homes in northern Israel.


"Hezbollah is the crown jewel in the Iranian empire of terror and evil and is by far the most powerful Iranian proxy, equipped with nation state capabilities and even more firepower than several European countries have today," former IDF spokesman Jonathan Conricus told Fox News.


"In a military comparison, Hezbollah is far more powerful than Hamas," he added.


Netanyahu has threatened war with Hezbollah for months, but there has yet to be a distinct escalation. A steady stream of Israeli air strikes have eliminated a number of top Hezbollah commanders, and Hezbollah has kept up its barrage of missiles and rockets.

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