The Federal Government of Nigeria leading by President Muhammadu Buhari has directed all account holders in all financial institutions to obtain, complete and submit Self–Certification Forms.

This involves account in banks, insurance companies and other financial institutions.

The Government of Nigeria shared this information via its verified Twitter account, explaining that the forms are required by the relevant financial institutions to do due diligence procedures in line with the Income Tax Regulations 2019.

Meanwhile, Failure to adhere to this instruction the Government said attract sanctions which may include monetary penalty or inability to operate the account.

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The full statement reads;

“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.

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“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.”

Share this on social media platforms to inform others and not to allow them looses their accounts.