FG directs all account holders in financial institutions to re-register despite BVN

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FG directs all account holders in financial institutions to re-register despite BNV

Victor Ogunyinka

The Federal Government of Nigeria has directed Nigerians with accounts in any financial institutions to obtain, complete and submit Self – Certification Forms to their respective financial institutions.

The financial institutions comprise of banks, insurance companies and others.

The forms, according to a tweet thread from the verified account of the Government of Nigeria explained that the forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019.

It noted 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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“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…



Source: Vanguard Newspaper