The directive is coming years after already putting account holders through a rigorous verification process, which involved the Bank Verification Number, BVN (a unique biometric-based identifier number) and a national identity card.
The notice was sent in a tweet by the federal government official Twitter account @NigeriaGov on Thursday.
The tweet said: “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 are required to complete and 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 three 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.”
From thewillnigeria
So it's true. Oh! Naija, I weep for you. I know the stress I went through for that BVN, and now it's not useful😠😠😠. God knows I won't be going to the bank anytime soon, I can't wear a mask for long.
ReplyDeleteHian
ReplyDeleteWhat kind of a nonsense implementation is this?...
What kind of government is this for crying out loud?...
I pity those in abroad that cant come back to do this stuff!..
Rubbish!...
It’s for income tax collection, those abroad don’t need it except they are paying money into the account, Nigeria is about to get real, you’ll pay tax for every single dime including money gifted to you in your account, all the businesses on Instagram running on personal account will start paying tax, it’s not so bad if they’ll put the money to good use but I don’t trust our politicians
DeleteThink better. Soft copies can be signed.
DeleteFirst they said register for BVN...we did that. They have brought this one again...not cos they want to help the economy but to tax every transaction even dash money all in the name of personal income tax.
ReplyDeleteBank will charge, govt will charge and at the end of the day, where is this money going to? To the pockets of the illegally rich.
Increased fuel and electricity bills and now this. Nigerians use your tongue to count your teeth.
Our mumu don do abeg.
How is this applicable to those operating accounts from diaspora?
ReplyDeleteI hope there will be some electronic process introduced?
Of course there will be.
DeleteNope. They will either deny you access to your accounts or charge you. There is no electronic process cos the fools in govt are mostly illiterates so you have to go to your bank physically.
Delete@ Amethyst
DeleteYou Dey vex o o
Nne...the gross incompetence I encounter every day is something else even for the simplest things. Even you go vex pass me
DeleteWrong timing
ReplyDeleteGod of mercy! What's all this?
ReplyDeleteWhat is happening now in Nigeria is not about looting, it's about power and total control. Let's open our eyes.
ReplyDeleteYou have plenty sense and foresight. The will use our money to frustrate and control us. Its the life in the matrix.
DeleteYou have plenty sense and foresight. The will use our money to frustrate and control us. Its the life in the matrix.
DeleteHmmmm...it's even unlike BVN that you only do once and submit to other Banks, this one u go to your different banks and fill these forms? O Chi m
ReplyDeleteEverything is just upside down in this country. We are being taken for granted no wonder they are making rules againsts hate speech. #nofreedomofspeechagain# it is well.
ReplyDeleteAbeg can someone break this down in simple terms because I don’t get it... is this even the perfect time to do this? With how hard this place is already they want to add to it nawa oo 🚶🏾♂️🚶🏾♂️
ReplyDeleteStella...the Fed Govt has retracted and apologised saying that "it's not for everybody". Only God knows what that means🙄
ReplyDeleteIn this covid, someone will go to bank and line up for the registration. Fools in govt.
ReplyDeleteNa to open account for inside my bedroom be the next thing.
ReplyDeleteThis is what we get when a complete illiterate is ruling us. We Don suffer, its just a matter of time people will soon start keeping money at home. Pissed much! People need to speak up oh, before buhari turn the country upside down. Gosh! #spotremover#
ReplyDeletePiggy bank here i come😂😂
ReplyDeleteTone deaf and insensitive, cruel and heartless government
ReplyDeleteGod of Elijah arise a implement the she bear treatment to the them