The management of ASO Savings & Loans Plc has condemned what it described as “recent negative publicity about the bank.”

A press release signed by the management noted that the allegations contained in some media reports were “a direct result of sustained efforts by the Bank to recover its assets from an aggrieved ex-management staff over the last 18 months.”

“We are working with the relevant law enforcement agencies in this regard,” the press release stated.

The release reads, “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.”

The statement noted that, over the years, 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

“As a Primary Mortgage Bank, ASO Savings & Loans has been instrumental in over N30bn mortgage originations for over 12,000 homeowners.

“It successfully championed and originated mortgages for over 88 per cent of the residential mortgage securities during the 2007 N25bn Sale of Federal Government Houses bond in Abuja.

“ASO has built a deep and unsurpassed working knowledge of the Federal Capital Territory and now operates from fourteen (14) branches and six cash centers within the FCT, Lagos, Rivers, Ondo, Kano, Niger, Kaduna and Edo states of the Federation,” the release further explained.