You may be shocked when you wake up to see money suddenly deducted from your bank accounts. If the debit alert looks like the one shown in the picture below:
It is from the GSI Recovery deduction, a system introduced by the Central Bank of Nigeria (CBN).
You may want to stop it; here is how to stop GSI Recovery deductions or prevent them in the future.
What is GSI Recovery?
GSI (Global Standing Instruction) is a central bank policy or mandate that allows the recovery of loans across all borrower accounts once they are in default.
It protects lenders, but it also forces borrowers to be more responsible with credit.
How GSI Recovery Works
Here’s how it happens:
- When you borrow money from a bank or any CBN-approved lender, you will sign a GSI mandate (digitally or on paper).
- If you fail to repay your loan on time, your bank can trigger GSI.
- The system will check all your accounts linked to your BVN.
- Money will be automatically deducted until your debt (principal and interest only) is cleared.
Note: GSI cannot deduct extra charges like penalties or illegal fees.
So, if you default on repayment, the GSI will keep searching your accounts until the debt is fully paid.
Read more: GSI Recovery Explained (2025)
How to Prevent GSI Deductions
You can prevent or avoid GSI deductions by repaying your loan on time.
But here are more practical tips to protect yourself:
- Borrow responsibly—only take loans you are sure you can repay.
- Communicate with your bank—If you are having financial challenges, inform your lender early. Many banks are willing to reschedule or restructure your loan.
- Monitor your accounts—Always check your loan balance and repayment dates so you’re not caught off guard.
- Pay at least something—Even if you can’t pay the full installment, paying part shows commitment and may stop your bank from triggering GSI immediately.
How to Stop Active GSI Recovery Debits
If you received a GSI deductions debit alert wrongly, here is what you should do to stop it:
- Check the transactions—Check and confirm if the transaction is from GSI. Also check whether you are in any default loan. If so, check whether principal and interest were deducted. If you see extra charges or you are not in any LOAN, you have the right to dispute them.
- Contact your bank immediately – Go to your branch or call your bank’s customer care. Provide evidence that you are not in debt or that you have repaid your loan already.
- File a complaint—Every bank has a consumer complaint desk. Lodge a formal complaint and keep copies of your emails or letters.
- Escalate to the CBN—If your bank ignores you for more than two weeks, report the case to the CBN Consumer Protection Department. CBN or your bank is the only one to stop GSI recovery.
- Report harassment—If the lender is a digital loan app, you can also complain to the FCCPC (Federal Competition & Consumer Protection Commission).
Can You Cancel a GSI Mandate?
You cannot cancel a GSI mandate by yourself. Only the bank (lender) that set it up can remove it.
And most banks will only agree to cancel once the loan is fully repaid.
Until then, the GSI remains active and can be triggered anytime money enters your accounts.
Does a GSI Mandate Expire?
No, it does not expire on its own.
The GSI stays in place throughout the life of the loan and only ends when you have cleared all your debt.
Even if many years pass, the mandate will remain valid until the lender deactivates it.
Final Thoughts
GSI Recovery is a powerful system that protects lenders but also reminds borrowers to always pay back loans on time.
You cannot stop GSI recovery by yourself; only your bank or the CBN Consumer Protection Department can stop it.
But you can avoid it by borrowing responsibly and keeping good communication with your bank.
If deductions happen wrongly, you have the right to challenge your bank and report it to the CBN Consumer Protection Department if necessary.
