Nigeria: CBN Revokes Licences of Aso Savings, Union Homes

CBN revokes licences of Aso Savings, Union Homes as NDIC begins deposit payments

The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans

CBN revokes licences of two mortgage banks

The affected institutions failed to meet the minimum paid-up capital requirements for their banking licence categories

Aso Savings, Union Homes: NDIC begins payment to depositors

The Central Bank of Nigeria, CBN, has revoked the operational licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent violations of regulatory requirements and failure to comply with prudential standards guiding mortgage banks in Nigeria.

CBN revokes licenses of Aso Savings, Union Homes Plc

The Central Bank of Nigeria, CBN, has revoked the operational licenses of two primary mortgage banks - Aso Savings and Loans Plc as well as Union Homes

NDIC Begins Liquidation of ASO Savings, Union Homes as CBN Revokes Licenses, Triggers Depositor Payouts

The Nigeria Deposit Insurance Corporation (NDIC) has formally commenced the liquidation of ASO Savings and Loans Plc, and Union Homes Savings and Loans Plc, setting in motion the payment of insured deposits to thousands of customers following the withdrawal of the banks’ operating licenses by the Central Bank of Nigeria (CBN). In a public notice […] The post NDIC Begins Liquidation of ASO Savings, Union Homes as CBN Revokes Licenses, Triggers De…

CBN Revokes Licences of Aso Savings, Union Homes in Fresh Mortgage Banking Cleanup

The Central Bank of Nigeria (CBN) has withdrawn the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, marking another decisive step in its ongoing effort to restore discipline and stability within Nigeria’s mortgage banking sub-sector. In a statement, the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali, said …