FG Apologises For Asking All Banks, Account Holders To Re-Register
The Federal Government has apologised for asking all account holders in the country’s financial institutions to register their details again.
There had been reports that the FG earlier asked all account holders in banks, including insurance companies, to fill and submit a Self-Confirmation form.
The order was given despite the possession of the Bank Verification Number and the National Identification Number by account holders on Thursday.
Failure to do so, the Nigerian government threatened to block access to defaulters’ accounts or impose a monetary penalty.
The order to fill another Self-Confirmation form despite the existing BVN, NIN, and NIMC had attracted outrage on social media.
In a tweet on Friday, the government apologised for misinformation.
It tweeted, “We apologise for the misleading tweets (now deleted) that went up yesterday, regarding the completion of self-certification forms by Reportable Persons. The message contained in the @firsNigeria Notice does not apply to everybody. FIRS will issue appropriate clarification shortly.”
In a press statement, the Federal Inland Revenue Service explained that only “reportable persons” are expected to submit the form.
The statement read, “This is to clarify the publication for financial institutions account holders in Nigeria to complete the self-certification form, pursuant to the Income Tax (Common Reporting Standard) Regulations 2019 which is for the fulfilment of Automatic Exchange of Information Requirements.
Earlier, the Nigerian government threatened to block access to the accounts of persons who refused to fill and submit a Self-Confirmation form or impose a monetary penalty.
It had tweeted, “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.
Culled from: Punch