Chairman, Mr Abdul Kofarsauri (m); MD/CEO, Hajiya Risikatu Ladi Ahmed (l); and Company Secretary, Akachukwu Okechukwu (r)

ASO Savings and Loans Plc has received overwhelming shareholder approval for a bold and forward-looking strategic roadmap focused on recapitalization, digital transformation, and market expansion. The approvals were granted at the Bank’s 18th to 27th Annual General Meeting (AGM), held virtually on Monday, June 30, 2025, with full regulatory backing.

The AGM, convened with the endorsement of the Central Bank of Nigeria (CBN) and other supervisory bodies, also marked the formal approval of the Bank’s audited financial statements for the years 2015 to 2024—a clear reaffirmation of ASO’s commitment to regulatory compliance, transparency, and stakeholder accountability.

Under the leadership of Risikatu Ladi Ahmed, Managing Director/CEO, the Bank has laid a solid foundation for sustainable growth through a transformative strategy that includes: A ₦60 billion phased capital raise via rights issue and private placement; Strategic investment in digital infrastructure, including a digital mortgage platform; and targeted market expansion to reach diaspora Nigerians, civil servants, and underserved communities.

Speaking during the AGM, Chairman of the Board, Alhaji Abdul Kofarsauri, stated:

“With a clear roadmap, regulatory alignment, and rising investor confidence, ASO Savings and Loans Plc is positioned for long-term institutional strength, innovation, and sustainable growth in Nigeria’s financial services sector.”

Also addressing shareholders, MD/CEO Risikatu Ladi Ahmed, added:

“The recapitalization path is clear. We’ve done the heavy lifting, and now we’re entering our growth phase—with the confidence of our regulators and the support of our investors.”

The AGM also highlighted ASO’s renewed innovation-driven outlook, including digital mortgage solutions, rent-to-own schemes, and enhanced credit origination and recovery systems—all aimed at repositioning the Bank as a national leader in housing finance.

Prominent shareholder and investor advocate Mrs. Bisi Bakare praised the management’s vision and execution, saying:

“We are impressed by the clarity and ambition of the Bank’s transformation plan. The transparent conduct of the AGM and the strategic roadmap presented inspire fresh confidence in ASO’s future.”

With restored regulatory alignment, improved governance frameworks, and a clear trajectory for growth, ASO Savings and Loans Plc is charting a decisive path toward full institutional recovery, market relevance, and long-term value creation for all stakeholders.