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INFO ZONE
CBN has advised the commencement of the Global Standing Instruction (GSI) process, effective August 01, 2020.
To this effect, CBN has introduced GSI codes for the various types of Post No Debit (PND) used on placing restrictions on accounts.
Effective August 1, 2020, all stakeholders in the Bank authorized to place accounts on PND are expected to stop using the old PND codes.
These new GSI codes as published by the CBN should be applied for account restrictions.
GSI CODE 05 - Security Services Order
GSI CODE 06 - Court Order
GSI ORDER 08 - Probate
GSI CODE 12 - Incomplete KYC
GSI CODE 13 - Fraud
GSI CODE 14 - Lien
GSI CODE 11
PND restrictions placed by Law Enforcement Agencies and Regulations e.g Police, NDLEA, NFIU, DSS, EFCC, CBN, NDIC, FIRS etc
PND by Legal, Garnishee Order, Court Orders, etc.
PND in respect of Legal Probate
PND for Incomplete KYC, BVN etc
PND by Anti-Fraud
PND placed on Liens, Suspicious Transactions, Judgement Amount, etc.
PND based on Customer Instruction
