The management of ASO Savings & Loans Plc has reacted to recent media reports bothering on the bank's operations.
According to a statement sent to NAIJ.com, the management of ASO Savings & Loans stated that the allegations raised are a direct result of sustained efforts by the bank to recover its assets from an aggrieved ex-management staff over the last 18 months.
ASO Savings & Loans Plc is known for its investment in properties
Part of the statement read: “The bank remains focused on its objective of asset recovery and is pursuing these claims lawfully, working with the law enforcement agencies to recover its assets and resolve all the issues.
“The bank will continue to work with all regulatory bodies and will provide all necessary information that may be required.
“Regardless of the news, allegations and information that may continue to circulate, we are confident that the truth will emerge. The bank will continue to focus on its daily operational activities and will not be dragged into public exchange of words in a bid to distract it from its ongoing recovery process.”
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ASO Savings & Loans has played a significant role in the provision of housing solutions to Nigerians and has emerged as a mortgage powerhouse in Nigeria.
It successfully championed and originated mortgages for over 88% of the residential mortgage securities during the 2007 N25 billion sale of federal government houses bond in Abuja.
It operates from fourteen (14) branches and six cash centers within the FCT, Lagos, Rivers, Ondo, Kano, Niger, Kaduna and Edo states of the federation.
A nominee dropped by the Independent Corrupt Practices and other related offences Commission (ICPC) had dragged the name of the bank into the controversy that made her lose the position.
Watch some Nigerians tell NAIJ.com TV how they will react if they mistakenly get a N100million alert from their bank: