1
MONDAY, AUGUST 29 – SUNDAY, SEPTEMBER 5, 2011
MONDAY,AUGUST 29 – SUNDAY, SEPTEMBR 5, 2011 N100
www.
thecoastaltimesng.
com
VOL.
1 NO.
12
cont’d on page 11
Plan To Rob
Oro Of 2015
*pg 2
CBNMayRevokeLicencesOf16PMIs
T
he licences of 16 Primary Mortgage...
More
1
MONDAY, AUGUST 29 – SUNDAY, SEPTEMBER 5, 2011
MONDAY,AUGUST 29 – SUNDAY, SEPTEMBR 5, 2011 N100
www.
thecoastaltimesng.
com
VOL.
1 NO.
12
cont’d on page 11
Plan To Rob
Oro Of 2015
*pg 2
CBNMayRevokeLicencesOf16PMIs
T
he licences of 16 Primary Mortgage Institu
tions operating in the country may be with
drawn by the Central Bank of Nigeria if they
fail to meet stipulated requirements in the next
30-days.
The apex bank said in an advertorial published
Thursday (today) that the affected PMIs had
ceased to carry on the business for which they
were licensed for a continuous period of six
months.
It noted that the development contravened Section 12 of the Banks and Other Financial InstitutionsActof1991andSection20(iii)oftheGuidelines for Primary Mortgage Institutions in Nigeria.
The bank said in the publication, “In the course
of the recent examination of all licensed Primary
Mortgage Institutions carried out by the CBN,
16 PMIs were not found at their last known addresses.
In addition,
Less
