Resort Savings and Loans is a duly registered Primary Mortgage Institution in Nigeria, but it has become obvious since September 2015 that they are in deep financial crisis, so bad that they cannot meet the short term fund withdrawal demands of their customers. Customers are being told to their faces that there's no money or the now familiar line that the manager has gone to cash a cheque at Access Bank. Till this moment the management has not deemed it appropriate to communicate to its customers on what the challenge is and how they are working to resolve it. I have sent CBN a mail via the email for complaints on their website but it bounced back which means they too are culpable in carrying out their functions effectively.
This is to bring the above to the notice of all and the relevant agencies that can address this and also the management of Resort Savings and Loans, give your customers their hard earned money

Thank you for sharing this information @ op

But why did the CBN allow it to degenerate to this extent?

This is not surprising. Most of our PMIs are just "not there"