‘All Account Holders are to complete and submit Self-Certification Forms to their respective Financial Institutions’ – Federal Government

'All Account Holders are to complete and submit Self-Certification Forms to their respective Financial Institutions' - Federal Government-verasgist.com

The Federal Government of Nigeria has ordered that all Account holders in both banks, insurance companies amongst others, are to complete and submit a Self-Certification Form or risk losing access to the accounts.

This was made via a series of tweet by the official twitter account of the Federal Government of Nigeria.

The tweet read;

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.

 

The 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

website (firs.gov.ng) for more details.

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