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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'IT'S POLITICAL'- APC AS EDO STATE GOV SUSPENDED THE RESUMPTION OF SCHOOL TILL FURTHER NOTICE. (PHOTO).

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EDO STATE GOV SUSPENDED THE RESUMPTION OF SCHOOL TILL FURTHER NOTICE.


‘It’s political,’ APC faults Edo’s suspension of school resumption over fuel price hike

The All Progressives Congress, Edo State chapter, has described as “expensive political gimmickry” the decision of the state government to suspend indefinitely the resumption date for schools in the state over the hike in the price of fuel.


The Permanent Secretary in the state Ministry of Education, Ojo Akin-Longe via a memo, announced the postponement of September 9, the earlier scheduled date until further notice.


The party’s Publicity Secretary, Mr Peter Uwadiae-Enosorogbe, told the News Agency of Nigeria that the action of the state government was a political gimmick less expected by the public.


Uwadiae-Enosorogbe said he was surprised that the state government could be sacrificing the educational pursuit of the children for politics.

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