The Nigeria Deposit Insurance Corporation (NDIC) has announced the commencement of the liquidation process and payment of insured deposits to depositors at Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, following the revocation of their operating licences by the Central Bank of Nigeria.
The CBN revoked the licences of the two mortgage banks for failing to meet minimum capital requirements, being critically undercapitalised, and failing to comply with several…
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