Banks to seize loan defaulters funds in other banks, to be fined 500Million as penalty

Guidelines on the Global Standing Instruction (GSI) issued by the Central Bank of Nigeria, has granted banks the right to seize loan defaulters’ money in other banks. According to the apex bank, the GIS guideline was issued to enhance loan recovery in the banking sector and to facilitate an improved credit repayment culture; reduce Non-Performing […]

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