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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I CAN'T BE INTIMIDATED TO RESIGN, SATS PDP CHAIR. (PHOTO).

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  I can’t be intimidated to resign, says PDP chair 


The Acting National Chairman of the Peoples Democratic Party, Ambassador Umar Damagum, has confidently stated that no one can pressure him into stepping down from his position.


It is important to note that the PDP has been dealing with internal disputes both before and after the 2023 elections.


Damagum has been repeatedly blamed by party members for contributing to the ongoing crisis.


He said ” Let me send a message to everyone talking about Damagum this, Damagum that – I cannot be intimidated. The more you mention me, the more popular I become.”


He mentioned that the criticisms only enhanced his popularity, and he is even considering running for the presidency due to this increased recognition.


While speaking at the ongoing inauguration of the National Reconciliation and Disciplinary Committees, chaired by Olagunsoye Oyinlola and Tom Ikimi respectively, Damagum expressed frustration with individuals who lack knowledge of the National Working Committee operations yet spread misinformation to the public.

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