Despite BVN, FG Orders Nigerians To Complete Bank Self Certification Form Or Face Penalty

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By Henry Odeh

 

 

The federal government of Nigeria has directed Nigerians with accounts all banks to obtain, complete and submit self – certification forms to their respective financial institutions or be sanctioned for non compliance.

The directive was announced on Thursday, September 17, via the federal government’s Twitter handle. The federal government has announced a new bank self-certification process.

The federal government said individuals who hold accounts in different financial institutions would have to collect and submit separate forms 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,” it said.

NIMC reveals only 42m Nigerians have so far registered for NIN According to the government, the failure to comply with the directive would attract sanctions such as monetary penalties or the inability to operate the account.

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