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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CUSTOMS ONDO/EKITI COMMAND MEETS NURTW LEADERS TO BOOST COMPLIANCE.(PHOTOS).#PRESS RELEASE

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 Customs Ondo/Ekiti Command Meets NURTW Leaders to Boost Compliance


The Nigeria Customs Service (NCS) Ondo/Ekiti Area Command has held a strategic meeting with the National Union of Road Transport Workers (NURTW) leadership to strengthen customs compliance and promote legitimate trade practices.


According to a press statement issued on Thursday, 22 October 2024, by the Command’s Public Relations Officer, Deputy Superintendent of Customs Herbert Dzungwenen, the meeting, held in Ado-Ekiti, was the first of its kind, with NURTW State Chairman Joseph Falope and representatives from various branches across the state in attendance.


Chaired by the Customs Area Controller (CAC) Comptroller Morenikeji Bewaji, the meeting emphasised the critical role of adhering to customs laws in driving Nigeria's economic growth.


She noted that Customs is a partner in progress, working to create an environment conducive to business thriving. "The Nigeria Customs Service is pivotal in generating government revenue, combating smuggling, and facilitating legitimate trade."


She called on all NURTW members to ensure full compliance with customs regulations while conducting their trade, stressing the need for collaboration between transport workers and the NCS to achieve the nation’s economic goals.


Comptroller Bewaji also recognised Adeniyi Bankole, the Chairman of the Auto Dealers Association in Ekiti State, for his contributions to fostering peace and cooperation between the Nigeria Customs Service and stakeholders.


Bankole was honoured with the "Peace Ambassador" title for promoting peaceful coexistence within Ekiti and its surrounding areas.


The CAC urged other stakeholders to emulate Bankole's commitment to peacebuilding and to work cooperatively with the NCS to advance the smooth execution of its mandates.


The meeting concluded with a call to action, encouraging stakeholders to promote lawful trade practices and work collectively towards national economic prosperity.

More photos below.




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