Despite BVN, FG Orders Bank Account Holders To Undergo ‘Self-Certification’

The federal government on Thursday mandated every person that owns an account with financial institutions to undergo a self-certification process.

The directive was announced on via the federal government’s Twitter handle.

Account-holders are required to obtain, complete and submit the self-certification forms to their respective financial institutions.

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.

Three categories of forms for entities, individuals and controlling person (individuals having a controlling interest in a legal person, trustee, etc) are said to be available

“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.

“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.”

https://twitter.com/NigeriaGov/status/1306634576291418118?s=19

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611