Everything you need to know about the Central Bank of Nigeria act
This article walks through the Central Bank Act with a focus on what it means for Nigerian lenders and credit providers.
What you need to know about Nigeria’s Open Banking
Two years after the first Open Banking framework circular was released, the CBN issued operational guidelines for Open Banking on Tuesday, March 7, 2023, heralding a start for what many anticipated would bring about a much-needed change in financial services.
The possible upsides of making GSI the go-to loan repayment method
As lenders look for more reliable ways to recover loans, the Global Standing Instruction (GSI) framework presents a compelling repayment option. By allowing repayments to be recovered across a borrower’s bank accounts when obligations are due, GSI can reduce missed payments, improve collections efficiency, and strengthen lender confidence. For borrowers, it may also create access to better credit terms where repayment risk is lower. If adopted more widely, GSI could reshape repayment behavior and improve discipline across the lending ecosystem.
