FG ORDER NIGERIANS TO RE-REGISTER BANK ACCOUNT OR FACE PENALTY
The forms, according to a tweet thread from the verified account of the Government of Nigeria explained that the forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019.
It noted that failure to comply with the requirement to administer or execute this form attracts sanctions which may include monetary penalty or inability to operate the account.
“INFORMATION: 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.
“Failure to comply with the requirement to administer or execute this form attracts sanctions which may include monetary penalty or inability to operate the account
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