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FG directs bank account holders to fill, submit Self-Certification forms

The Federal Government of Nigeria has called Nigerians with accounts across financial institutions to obtain, complete and submit Self – Certification Forms to their respective financial institutions.

This was announced via the official Twitter handle of the Federal Government on Thursday.

According to information, failure to comply with this directive will lead to “sanctions which may include monetary penalty or inability to operate the account.”

The information read partly below:

“This is to notify the general public that all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, complete and submit Self – Certification Forms to their respective Financial Institutions.

“Persons holding accounts in different financial institutions is required to complete & submit the form to each one of the institutions. The forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019

“The self-certification form is in 3 categories:
– Form for Entity
– For Controlling Person (Individuals having controlling interest in a legal person, trustee, etc)
– Form for individual”

The information generated reactions from Nigerians on Twitter seeking an alternative for the process.

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