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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FIRE AT DUBLIN SITE DESIGNATED FOR ASYLUM SEEKERS. (PHOTO).

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 A fire has broken out at a site in Coolock, North Dublin, which was being renovated to accommodate international protection applicants. Dublin Fire Brigade is currently at the former Crown Paints factory on the Malahide Road. Hoses have been deployed, and smoke is seen billowing from the building.

The fire brigade reported that two fire engines are on the scene. Firefighters are actively extinguishing the fire, which is now contained. “We expect to finish at the scene soon,” a spokesperson said.


An Garda Síochána (Irish police force) issued a statement: “Gardaí and emergency services are currently at the scene of an incident in which a fire has broken out at a premises on the Malahide Road, Coolock, Dublin 17.”


Traffic on Malahide Road at Coolock remains open in both directions.


**What is the Coolock Site?**


The site in Coolock, North Dublin, was being prepared to house asylum seekers. It has been the focal point of protests and violence earlier this week. Construction was slated to begin soon on the Malahide Road site. On Monday, protesters targeted the site, resulting in machinery and pallets being set ablaze.


More than 200 Gardaí were deployed to manage the unrest. During these disturbances, three Garda cars were damaged, with one set on fire. Fireworks and other objects were also thrown, leading to significant property damage and public disorder.


Additionally, a nearby building used by police as a security guard station and several vehicles were damaged. Twenty-nine protesters were arrested and charged, 15 of whom appeared in court on various charges.

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