Aso Savings and Loans Plc and Union Homes Savings and Loans Plc have had their operating licenses revoked by the Central Bank of Nigeria (CBN). The ruling, according to the top bank, is a component of continuous initiatives to fortify the mortgage subsector and enforce stringent adherence to pertinent legal and regulatory requirements. In a statement issued by Hakama Sidi Ali, Ag. Director, Corporate Communications Department, CBN listed inadequate capital situations, ongoing violations of regulations, and disregard for supervisory directions.
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