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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ZAMFARA NSCDC DEPLOYS 550 PERSONNEL FOR CHRISTMAS AND NEW YEAR SECURITY. (PHOTO).

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 Zamfara NSCDC Deploys 550 Personnel for Christmas and New Year Security


The Zamfara State Command of the Nigeria Security and Civil Defence Corps (NSCDC) has deployed 550 personnel across the state to ensure security during the upcoming Christmas and New Year celebrations.


State Commandant Sani Mustapha, speaking at the Command's headquarters in Gusau, explained that the deployment is intended to guarantee a smooth and secure holiday period. Mustapha urged the operatives to maintain professionalism in their duties, emphasizing that protecting human life is the top priority.


He also encouraged the personnel to work closely with other security agencies to enhance their effectiveness. Additionally, Mustapha warned criminals to refrain from illegal activities during the celebrations and called on the public to cooperate with security forces by providing vital information.

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