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After BVN, FG asks bank account holders to submit Self-Certification Forms or face fine

Valentine Chinyem

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In spite of the existing Bank Verification Number, National Identification Number and National Identity Management Commission, the Federal Government has again asked requested that all persons with accounts across financial institutions in the country to fill and submit a Self-Certification Forms.

These forms, according to the federal government is to be gotten from financial institutions and submmitted to all institutions, the person is having an account with.

This was made known by the Nigerian government in a series of tweets on Thursday.

It threatened to block access to defaulters’ accounts or impose a monetary penalty.

The tweets read, “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 FIRS’ website.”