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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FOUR NORTH CAROLINA UTILITY WORKERS WERE TRAGICALLY KILLED WHEN A DUMP TRUCK DRIVER DROVE THROUGH A STOP SIGN AND CRASHED INTO A CREW OF WORKERS.(PHOTO).

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 Four North Carolina utility workers were tragically killed when a dump truck driver drove through a stop sign and crashed into a crew of workers.


This heartbreaking incident occurred at 1:23 p.m. on Thursday afternoon in Eden, North Carolina. According to reports, a City of Eden dump truck driven by 66-year-old Michael Vernon ran a stop sign at the intersection of Carroll and Church Street in Eden.


After blowing through the intersection, Vernon struck 6 utility workers with Duke Energy who were working on power lines for Carolina Power and Signalization. The dump truck then struck an occupied bucket truck before going off the road into a ditch.


Four of the utility workers were sadly pronounced deceased on the scene while 2 others were life-flighted to a nearby hospital in critical condition. The utility worker in the bucket truck was taken to a nearby hospital with non-life-threatening injuries.  Michael Vernon was also taken to the hospital for minor injuries sustained during the crash.


The four Duke Energy utility workers that lost their lives have been identified as 30-year-old Matthew Lockwood, 35-year-old William Eavans, 32-year-old Madison Carter and 72-year-old Douglas Sides.


Police do not believe Michael Vernon was impaired at the time of the accident.  He has been charged with misdemeanor death by vehicle and a stop sign violation at this time although North Carolina State Police are investigating the crash.


Our thoughts are with everyone involved.

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