The Nigeria Deposit Insurance Corporation (NDIC) has commenced the liquidation of 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 (CBN). This sets in motion the payment of insured deposits to thousands of customers of the defunct mortgage banks. NDIC public notice on Tuesday, December 16, disclosed that the CBN withdrew the banks’ licences on December 11, 2025, after which the NDIC was appointed liquidator in line with Section 12(2) of the Banks and Other Financial Institutions Act (BOFIA) 2020.......................….......READ MORE