Celsus Agla, senior manager of the CBN’s development finance office in Port-Harcourt, said this on Thursday during a meeting with maize farmers and other stakeholders.jamb result
Agla claimed that some farmers who received loans through the Anchor Borrower Program have disregarded requests for repayment and have even referred to their loans as grants. CBN is now taking the Global Standing Instruction into consideration as a result (GSI).
Other Top Stories:
- Africa emits less than 1% of global carbon—Osinbajo
- MTN assures of 5G expansion, partners Ericsson on rollout
- Smartphone giant TECNO wins big at Marketing Edge Awards
- Ethereum Merge: What will the radical update mean for cryptocurrency?
“because your BVN is attached to these loans if the GSI is triggered, the monies in those accounts can be collected to repay the loan to Unity Bank” he explained.
Although he said GSI will be the last resort to recover the overdue debt, “The GSI shall serve as a last resort by a creditor bank, without recourse to the borrower, to recover past due obligations (principal and Accrued Interest only, excluding any penal charges) from a defaulting borrower through a direct set-off from deposits, investments held in the borrower’s qualifying bank accounts with participating financial institutions.”
👍Advertise your business on InfoGuideNigeria.com!
From just N4,999 per month, you can advertise your products and services to over 1,500,000 users on our website. Click here to read more.
Information is Power!
Don’t miss any valuable information or opportunity that can change your life, business, and family positively and permanently.
For Latest updates on News, Jobs & Business Ideas, and Opportunities.
Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us for immediate removal.
🤑 Start Making Money from home today!