Nigerians with accounts in financial institutions have been advised to obtain, complete and submit self – certification forms to their respective financial institutions.
The directive was given by the federal government of Nigeria, failure of which will lead to penalties.
The directive was announced on Thursday, September 17, via the federal government’s Twitter handle.
According to the federal government, 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.
The government stated that 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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