Emefiele: CBN will Watchlist Recalcitrant through the GSI

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Godwin Emefiele: CBN will Watchlist Recalcitrant through the GSI

Officials at CBN (Central Bank of Nigeria) have stated that one of the aims of the GSI (Global Standing Instruction) is to create a watchlist for consistent loan defaults. This was disclosed in a circular issued recently to all banks and financial institutions, signed by the Director, Financial Policy and Regulatory Department, Mr. Chibuzo Efobi.

The apex bank also extended the GSI recovery frequency for individuals from restricted to continuous and unrestricted. The CBN stated that the GSI was developed to address loan defaults and would create a watchlist for recalcitrant loan defaulters.

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