global standing instruction (GSI) Archives

GSI: Loan recovery feature will be continuous until debts are cleared, says CBN

The Central Bank of Nigeria (CBN) has amended the operational guidelines on global standing instruction (GSI). The GSI is a policy that allows banks to debit the accounts of loan

GSI: Banks recovered N50.3m bad loans in nine days, says CBN

Kevin Amugo, director of financial policy and regulation at the Central Bank of Nigeria (CBN) said banks recovered N50.32 million bad loans from debtors within nine days of the commencement

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From August 1, loan defaults will be settled using funds in other banks

Effective August 1, banks will be able to debit the accounts of loan holders in other banks to settle defaults. This is according to global standing instruction (GSI) guidelines published

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