Go to your Banks and re-register or face penalties – Buhari Govt tells all Account holders Despite BVN

The President Muhammadu Buhari-led federal Government on Thursday, directed all account holders with financial institutions to , complete and submit Self–Certification Forms.

This includes banks, insurance companies and other financial institutions.

This information was shared via the verified Twitter account of the govt of Nigeria, explaining that the forms are required by the relevant financial institutions to try due diligence procedures in line with the tax Regulations 2019.

Failure to stick to the present instruction the govt said attract sanctions which can include monetary penalty or inability to work 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

“he 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.

“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. For more enquiries visit @firsNigeria website (http://firs.gov.ng) for more details.”