BY NONYELUM JULIET
Abuja
ASO Savings and Loans Plc has taken a major step toward institutional revitalization and sector leadership as shareholders gave unanimous approval to a new strategic roadmap at the company’s 18th to 27th Annual General Meeting (AGM), held virtually on Monday, June 30, 2025.
The AGM, which received full endorsement from the Central Bank of Nigeria (CBN) and other supervisory agencies, sanctioned the company’s bold multi-phase plan targeting recapitalization, digital transformation, and aggressive market expansion.
A critical milestone of the meeting was the formal ratification of ASO’s audited financial statements for the financial years 2015 to 2024, reinforcing its renewed commitment to regulatory compliance, transparency, and corporate accountability.
Addressing shareholders, Chairman of the Board, Alhaji Abdul Kofarsauri, emphasized the significance of the approved roadmap in strengthening the bank’s long-term competitiveness.
“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”.
Under the leadership of Risikatu Ladi Ahmed, Managing Director/CEO, the bank has unveiled a forward-looking growth plan anchored on three key pillars: a ₦60 billion phased capital raise through rights issue and private placement, Digital transformation, including investment in a digital mortgage platform and Targeted market expansion to serve diaspora Nigerians, civil servants, and underserved communities.
MD/CEO Ahmed affirmed the bank’s readiness to enter its next growth phase following years of restructuring and regulatory engagement.
“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 spotlighted ASO’s innovation-led focus, including digital mortgage services, rent-to-own housing schemes, and improved credit origination and recovery systems—strategic initiatives aimed at repositioning the institution as a leader in Nigeria’s housing finance market.
Prominent shareholder and investor advocate, Mrs Bisi Bakare, lauded the bank’s renewed direction.
“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”.
