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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UPDATE: ONITSHA YOUTH LEADER, BARR. ERNEST OFFIAH, FATALLY SHOT IN EDO STATE INCLUDING COMMISSIONER FOR YOUTHS, KIDNAPPED ON THEIR WAY TO GOV. SOLUDO'S DAUGHTER'S WEDDING. (PHOTO).

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 Onitsha Youth Leader, Barr. Ernest Offiah, Fatally Sh0t in Edo State; Others, Including Commissioner for Youths, K!dnapped


Trag£dy struck this morning in Uromi, Edo State, as Barr. Ernest Offiah, the Chairman of Onitsha Youths, widely known as ABK or Abubakar, was sh0t d€ad. The !nc!dent occurred while he was traveling in a chartered Sienna vehicle alongside other passengers, including Commissioner for Youths, Patty Aghamba, and his wife, who were abduct£d.


They were en route to Abuja as part of the Onitsha contingent attending Governor Soludo's daughter's white wedding, scheduled for tomorrow. The inc!dent has cast a shadow over the anticipated celebration.


May his soul rest in Peace🕊💔

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