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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EDO PDP TACKLES OKPEBHOLO OVER 'DETERIORATING SECURITY SITUATION'. (PHOTO).

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 Edo PDP Tackles Okpebholo Over ‘Deteriorating Security Situation’


The Peoples Democratic Party (PDP) in Edo State has condemned Governor Monday Okpebholo's handling of the state's security situation, which they claim has rapidly deteriorated. The party's criticism comes after the gruesome murder of innocent travelers in Uromi, who were accused of kidnapping and killed by a mob.


Governor Okpebholo responded to the incident by suspending all illegal vigilante groups operating in the state and suspending the Commander of the Edo State Security Corps, CP Friday Ibadin (Rtd.). However, the PDP faulted the governor's actions, stating that they expose the absence of a coherent security framework under the current administration.


The PDP is calling for the following measures to restore security and prevent further loss of lives in Edo State:


- Comprehensive Audit and Overhaul of the Edo State Security Corps: Eliminate unregistered groups and ensure accountability in operations.

- Immediate Arrest and Prosecution of All Perpetrators: Ensure those responsible for the Uromi killings face justice.

- Deployment of Federal Security Agencies: Federal intervention is necessary to stabilize the situation.

- Implementation of a New Security Strategy: A non-partisan security summit to map out an effective security blueprint for the state.


The PDP emphasized that the safety of Edo people cannot be sacrificed due to incompetence and that Governor Okpebholo must take decisive actions or step aside.

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