CBN Activates GSI, Automatic Debit Orders on Debtors Accounts

Central Bank of Nigeria (CBN) has mandated commercial and merchant banks to begin debiting various loan defaulters as it seeks to build back a better financial system. According to a recent circular titled ‘Re: Global Standing Instruction (GSI), Individuals’, CBN said the rate of recovery attempts through the GSI platform will continue unrestricted. The GSI […]