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FG orders Nigerians with bank accounts to fill, submit self-certification forms

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The Federal Government of Nigeria has ordered all holders of accounts in financial institutions across the country to obtain and fill self-certification forms in line with the Income Tax Regulations 2019.

This was made known in a series of tweets released via the federal government’s official handle on Thursday, stating that each account holder must submit the filled forms in their respective financial institutions.

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“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,” it said.

 

As stated in the directive, the forms have been categorized into three: Form for Entity, for Controlling Person (Individuals having a controlling interest in a legal person, trustee, etc); and form for individual.

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The government warned that “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.”

 
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