RegAlert β’ 0 implied HN points β’ 28 Jan 22
- The Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/001/039 emphasizes the implementation of Global Standing Instruction (GSI) guidelines by financial institutions to manage loan defaulters and enhance credit repayment culture.
- The circular mandates that recovery attempts through the GSI platform should now be continuous and unrestricted, ensuring persistent efforts until the loan is fully repaid.
- Financial institutions are reminded to adhere to the guidelines outlined in the circular and make necessary adjustments as per the instructions provided.