The federal government has directed Nigerians with accounts in any financial institutions to obtain, complete, and submit a self – certification form to their respective financial institutions or face penalties for not complying.
The federal government said individuals who hold accounts in different financial institutions would have to collect and submit separate forms 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,” it said.
According to the government, the failure to comply with the directive would attract sanctions such as monetary penalties or the inability to operate the account.
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