How NMFB Is Using GSI Trigger To Recover Unpaid Loan

How NMFB Is Using GSI Trigger To Recover Unpaid Loan

According to the management of the Nirsal Micro Finance Bank NMFB, with GSI You Can't Escape Your Loan Repayment. Our system will not allow you to escape from repaying your loan.

The Head, of the Loan Recovery Department of NMFB, Chukwuka Egbule explained in detail how they use the GSI trigger to make loan Defaulters repay their loans.

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According to him, global Standing Instrument GSI is a recovery tool that is currently used globally and particularly in Nigeria. We are using GSI because we have defaulting customers. So we are invoking the instrumentality of GSI to help us recover these Loans.

How Does It Work?

GSI is a tool that enables us to recover your money from anywhere within the banking system or the financial system. It is actually a recovery tool that you can not run away from because of the parameters we were using which were given to us when you were actually applying for the loan, he said.

We also have your data on our credit bureau and even the Credit Risk Management System CRMS. What this means is that we have all your credit information on this platform such that when you want to borrow money elsewhere, it is difficult for you to borrow if it is still reading that you are not on a performing status.

So even for those of you who want to Japa as they said, it is also not equally easy for you to Japa because we also share information with the credit bureau agency globally. So they have our information, the embassies have our information.

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If you want to travel abroad or even when you succeed in getting there, the credit bureau will share information with us to help us identify you, the Head, of the Loan Recovery Department of NMFB concluded.

This shows why some of the applicants of the NMFB COVID-19 and TCF Loan who are yet to repay their loan account are being debited unaware of the loan repayment.