FG Orders Banks to Carry Out Another Registration for Account Holders
Despite the Bank Verification Number and the National Identification Number by account holders, the federal government has ordered banks to carry out a fresh registration for bank customers.
The order was made public Thursday in a Twitter account @NigeriaGov.
The order reads, n “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.”
The order was made public Thursday in a Twitter account @NigeriaGov.
The order reads, n “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.”
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