In Move to Allow Limitless Loan Recovery, CBN Amends Operational Guidelines of Global Standing Instruction James Emejo in Abuja The Central Bank of Nigeria (CBN) has amended the operational guidelines of the Global Standing Instruction
(GSI) to allow for continuous and unrestricted loan recovery by Deposit Money Banks (DMBs) and financial institutions in the country. The GSI creates a
contractual mandate from an individual borrower, in favour of a creditor bank to apply monies standing to the credit of the borrower in a third-party financial
institution or electronic wallet to offset the debt obligations of the borrower. It helps to facilitate improved credit repayment culture. The CBN in a circular
titled: "Re: Global Standing Instruction (GSI) – Individuals," dated January 19, 2022, signed by CBN Director, Policy and Regulations Department,
Chibuzo Efobi and addressed to all banks and other financial institutions, stated that following the Continued on page 6
Zoning: Buhari will Guide APC on Way Forward, Says Abiodun… Page 6 Saturday 29 January, 2022 Vol 27. No 9790
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US: War against Sleaze in Nigeria, Core Priority of Biden Administration Declares American President committed to supporting Nigeria’s anti-corruption initiatives Bennett Oghifo The United States Consul General, Claire Pierangelo
yesterday stated that countering corruption "is not only a key concern" in Nigeria but also a core
United States national security priority for the President Joe Biden’s administration.
As a result, she said the Biden government “is committed” to supporting anti-corruption initiatives
and collaborative efforts to prevent graft, strengthen investigation and prosecution of corrupt persons and
institutions in Nigeria. Pierangelo stated this Continued on page 6
Osinbajo: Only Leaders Not Inspired by Personal Profit Can Bring about National Transformation Asserts Nigeria will overcome its challenges and rise again Deji Elumoye in Abuja Vice President Yemi Osinbajo yesterday took a deep look at the countless problems bedeviling Nigeria and declared that only people not inspired by personal profit could bring about the desired national transformation in the country. Osinbajo, who was speaking in Abuja at the 1st Annual General Assembly of Catholics in Politics and Catholic Business Leaders, also highlighted the imperative of servant leadership and transformational leadership at different levels in society as a force for the common good. He said: "History teaches us that everywhere there has been a national transformation, it has been brought about by public-spirited men and women of goodwill who, inspired by their belief in a higher purpose other than their own profit, have entered the public square to champion
the common good." Osinbajo said transformational leadership, particularly in a multi-ethnic and multi-faceted country like Nigeria, “is needed” across all levels of government and spheres of society, as its primary focus is the pursuit of the common good to ensure fairness, justice, unity and development in a nation. According to the VP, "building credible institutions of justice, the rule of law and orderly society are crucial expressions of the pursuit of the common good." Recalling the words of His Holiness Pope John Paul II during his visit to Nigeria in February 1982 in an address at the State House in Lagos, the VP stated, “only the harnessing of all the forces for the common good, in true respect of the supreme values of the spirit, will make a nation great and a happy Continued on page 6
REJOICING WITH DAHIRU MANGAL…… L-R: Former Senate President, Bukola Saraki; President of the Senate, Ahmad Lawan; an unidentified guest; and Katsina business mogul, Alhaji Dahiru Mangal, at the wedding fatiha of Shamsuddeen and Ayuba, both sons of Mangal, at Aliyu Ibn Abi Talib Juma’at Mosque in Abuja…yesterday
Tinubu in UK for Consultations, Not Sick, Says Aide...
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