2025-12-30 18:00:00
Reporting by The Nation indicates the dispute over the revoked operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc has moved deeper into court, with CBN and NDIC drawn into legal proceedings.
The regulator’s action followed claims of financial distress and insolvency concerns, while NDIC began depositor verification and resolution steps as liquidator.
The episode is significant for the mortgage-bank segment, where confidence is sensitive and depositor-protection messaging is crucial to preventing panic.
The Guardian reported the CBN said the revocation “took effect on December 15, 2025,” citing relevant legal and regulatory provisions. Legit.ng reported that “the NDIC was appointed as liquidator,” and said depositor verification and payments were being initiated.
Echotitbits take: The key risk is depositor confidence. If NDIC payouts are fast and communications clear, spillover stays limited; if not, rumours can spread quickly. Watch timelines for verification, payout caps, and any court orders affecting resolution steps.
Source: The Nation — December 30, 2025 (https://thenationonlineng.net/justice-nwite-summons-cbn-ndic-over-revoked-licenses/)
The Nation 2025-12-30
Photo Credit: The Nation
