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Tag: aso savings

  • ASO Savings & Loans Plc Repositions – Holds AGM, Shareholders ratify appointments of seven new Directors.

    ASO Savings & Loans Plc Repositions – Holds AGM, Shareholders ratify appointments of seven new Directors.

    In its bid to remain the Mortgage Bank of choice in Nigeria, ASO Savings & Loans Plc on Wednesday held its 16th and 17th Annual General Meeting in the ancient Commercial City of Kano.

    The AGM which was held to approve the accounts of 2013 and 2014 financial year and also ratify the appointment of RISIKATU LADI AHMED as Managing Director/CEO by shareholders based on approval by the Central Bank of Nigeria effective from 1st of May, 2021.

    The shareholders also ratified the appointment of seven new executive directors namely Abdul kofarsauri (Non -Executive), Umar IIiya Damagum (Non – Executive), Isiyaku Ismaila (Non – Executive), Daniel Dayo kunle (Independent director) and Henry Semenitari (Independent director)
    and two executive directors namely Richard Femi Bello and Enesi Makoju.

    The shareholders by consecus appointed the Boardroom guru and President of the Association of the Advancement of the Rights of Shareholders, Dr Umar Faruk to act as interim Chairman of the AGM.

    All decisions ratified at the AGM by shareholders were done through proxy attendance.

    The reconstituted Board, whose membership has been described by Finance industry experts as professionals with cognate experience, exposure and integrity are set to to reposition the bank and take it to greater heights with best industry practice and corporate governance.

    Since May 2021, under the leadership of Risikatu Ladi Ahmed,
    the bank has witnessed a positive turn around in its fortunes through an aggressive loan recovery drive and implementation of new business plan to revitalize and bring the bank back to the path of growth and profitability.

    The meeting received, approved and adopted the company’s Audited Accounts for the year ended 31st December 2013 and those of the year ended 31st December, 2014. This was also done through Proxy Attendance as the Shareholders had already indicated their votes by completing and submitting their respective Proxy Forms.

    The shareholders elected three of their members- Ibrahim Oruma, Asya Abdullahi Umar and E-Amin Bello-as Shareholders’ Representatives on the Audit committee.

    ASO Savings & Loans Plc shareholders are optimistic that the bank is on the path of transformational change back to a leading Mortgage power house in the provision of Housing solutions in the country.
    Risikatu Ladi Ahmed is the first female Managing Director/ CEO of the bank and one of the 9 Female CEOs in banking that have been described as breaking the glass ceiling.

  • ASO Savings officially unveils Karsana Estate

    ASO Savings officially unveils Karsana Estate

    Nigeria’s leading Primary Mortgage Bank (PMB) ASO Savings and Loans Plc, Friday, scored another major goal as it commissioned the phase 1 of the ASO Garden Estate, Karsana, Abuja.
    The Estate, strategically located within the Karsana East District of Abuja, comprises of 249 Housing Units made up of 129 units of 2-bedroom apartments, 117 units of 3-bedroom apartments and three units of 4-bedroom duplexes.
    The housing project, conceived by ASO Savings and Loans Plc in partnership with Global High Property Development Ltd (Global High), is expected to raise the bar in housing projects delivery not only in the FCT but in the country.
    The project was fully financed by ASO Savings and Loans Plc.
    Managing Director of Federal Mortgage Bank of Nigeria, FMBN, Arc. Ahmed Musa Dangiwa who led dignitaries on a tour of the Estate and later did the commissioning, commended the Board, Management and Staff of ASO Savings and Loans Plc for successfully completing a project of this magnitude in spite of the challenging economic environment.
    Earlier on in his goodwill message, the chairman of the Board of Directors of ASO Savings and Loans Plc, Alhaji Ali Magashi also noted that the delivery of the estate is no small feat given the harsh economic realities.
    He said; “for those of you stakeholders, you know what a tough economic operating environment it has been for primary mortgage banks in Nigeria, as such, the delivery of the estate is no small feat for ASO.”
    It is for this reason that Alhaji Magashi commended “the board and management and all staff for their continuous effort and commitment to weather the many storms and make ASO the true leader that it is.”
    Executive Director, ASO Savings & Loans Plc, Risikatu Ahmed spoke in the same vein, expressing her delight that in spite of the enormous challenges, her bank was able to see the project through.
    “I am therefore on behalf of the management and staff of ASO Savings and Loans Plc, under the leadership of a great man whose supervision and resilience, I am delighted to say, we are witnessing the official opening of phase 1 of this estate which promises to bring more meaning to the housing growth within the FCT and the nation.”
    The journey to the last Friday commissioning of ASO Garden Estate started with the acquisition of 27 Hectares within the Karsana East District of Abuja by ASO Savings and Loans Plc.
    The leading Primary Mortgage Bank later approved the required funding for Global High and the company immediately mobilized to site. Global High utilized 4.6 hectares of the 27 hectares for the construction of the phase 1 of the estate.
    The completed phase 1 project stands out for high quality construction and finishing, first-rate infrastructure, breathtaking and stately civic facilities and posh recreation area.
    Work has since commenced on the phase 2 project. The phase 2 under construction comprises of 692 units of mixed housing development, which include one, two and three bed room apartments, two, four and five bedroom terrace duplexes and four bedroom semi detached duplexes.

  • Maimuna Aliyu’s trial: Court fines ICPC’s lawyer over failure to producinge witnesses

    An FCT High Court in Jabi yesterday berated the attitude of the Independent Corrupt Practices and other Related Offences Commission (ICPC) in the trial of a former Executive Director of Aso Savings and Loans, Maimuna Aliyu.

    Aliyu was arraigned by the ICPC on a three-counts charge with the first count accusing her of selling off three plots of land in Jahi District, Abuja, on behalf of the bank at the cost of N57 million without remitting same to the bank.

    At the resumed hearing yesterday, the prosecution counsel, Osuobeni Akponimisingha told the court he was unable to bring any of the 11 listed witnesses to court and prayed the court for an adjournment.

    Ruling on the request for adjournment, the trial judge, Justice Mairo Nasir said the court was disappointed with the failure of the prosecution to bring any of its witnesses to court for the trial to begin in earnest.

    She therefore ordered Akponimisingha to personally pay the sum of N50,000 into the coffers of the government and produce evidence of payment on May 11, the next adjourned date.

    Maimuna Aliyu is the mother of Maryam Sanda who was accused by the police of killing her husband, Bilyamin Bello.