ASO Savings Clears 10-yr Backlog Of Audited Accounts, Sustains Profitability Under New Mgt

ASO Financial savings and Loans Plc has marked a significant milestone in its turnaround journey, having cleared 10 years of excellent audited monetary statements, a transfer hailed by shareholders and regulators alike as a daring step towards transparency, regulatory compliance, and long-term stability.

The announcement was made through the financial institution’s 18th to twenty seventh Annual Normal Assembly (AGM), held just about on Monday, June 30, 2025, the place shareholders formally accepted the audited accounts protecting the monetary years 2015 to 2024.

Below the management of Risikatu Ladi Ahmed, who took over as Managing Director/CEO in 2021, ASO Financial savings had not solely restored transparency but additionally returned to profitability, sustaining a constructive trajectory for 4 consecutive years.

In its 2024 audited outcomes, the financial institution reported an increase in curiosity earnings to ₦1.3 billion, up from ₦1.1 billion in 2023, and a Revenue After Tax (PAT) of ₦82.8 million, signaling constant monetary progress and resilience.

Addressing shareholders through the AGM, Chairman of the Board, Abdul Kofarsauri, emphasised the financial institution’s deal with sustainable progress:

“Restoring shareholder worth is a core goal. As soon as the recapitalization is accomplished and profitability is sustained, dividend funds might be reconsidered. The present focus stays on strengthening the stability sheet and making certain long-term viability.”

Commending the financial institution’s efficiency, Faruk Umar, Nationwide President of the Affiliation for the Development of Rights of Nigerian Shareholders, expressed renewed confidence in ASO’s trajectory, “The orderly presentation of the accounts and the strategic updates from administration give us renewed confidence within the establishment’s course.”

Since 2021, ASO Financial savings had reversed over ₦6 billion in losses and carried out wide-reaching reforms in governance, operations, and finance, serving to reposition the establishment in Nigeria’s monetary providers sector.

Responding to shareholders’ questions, MD/CEO Risikatu Ladi Ahmed reiterated administration’s mission:

“In 4 years, we’ve stabilized the Financial institution, restored profitability, and paved the best way for recapitalization. Our group is rebuilding ASO with integrity, self-discipline, and a transparent sense of course. The worst is behind us. We’re not simply operating a financial institution, we’re rebuilding an establishment Nigerians can belief once more.”