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FG Bows To Pressure, Says Self-Certification Forms For Account Holders Not For All Bank Users



The Federal Government has debunked directives making it as compulsory for all bank holders in Nigeria to fill self-certification form.

Recall FG made the directive on Thursday making it mandatory for all account holders to visit their respective banks by picking up self-certification forms in line with the Income Tax Regulations 2019.

The directive was contained in a series of tweets on Thursday stating that each account holder must submit the filled forms in their respective financial institutions, Daily Times Nigeria has learnt.

“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.

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“Persons holding accounts in different financial institutions is required to complete & submit the form to each one of the institutions,” it stressed

The government warned “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.”

However, a new tweet on Friday from the FG accepted the directive was not for all account holders and said FRIS will give appropriate information on those involved.

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Hammed Tajudeen is the editor in-chief of Blaze News, holds Higher National Diploma(HND) in Mass Communication, graduated from Osun State Polytechnic, Iree.