Complete and Submit Self–Certification Forms or Face penalties – Buhari govt tells all account holders

Self–Certification Forms
Self–Certification Forms

President Muhammadu Buhari-led, Federal Government on Thursday, directed all account holders in all financial institutions to obtain. Complete and submit Self–Certification Forms.

This includes banks, insurance companies and other financial institutions.

This information was shared, via the government of Nigeria’s verified Twitter account. Explaining that the forms are needed, by the financial institutions concerned. To do due diligence procedures, in line with the Income Tax Regulations 2019.

Failure to adhere to this instruction, the Government said will attract sanctions which may include monetary penalty. Or inability to operate the account.

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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. Required to complete & submit the form to each one of the institutions. So this forms are expected to carry out, due diligence procedures. By the relevant financial institutions in accordance with the 2019 Income Tax Regulations.

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“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 @firsNigeria website (http://firs.gov.ng) for more details.”

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