Nigeria, Jan. 6 -- The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) has challenged the jurisdiction of the Federal High Court in Abuja to hear a suit filed by Aso Savings and Loans Plc and Union Homes Savings and Loans Plc over the revocation of their operating licences.

CBN's lawyer, Onyeka Ezeah, and NDIC's lawyer, Abubakar Shehu, raised an objection before Judge Emeka Nwite, during Monday's hearing.

Aso Savings and Loans Plc and Union Homes Savings and Loans Plc are both Nigerian primary mortgage institutions licensed to provide mortgage financing and related banking services.

The filed the suit along with two other co-plaintiffs - Ridhwan Hamza and Ismaila Adamu - to challenge the revocation of...