The Nigerian Government has directed all account holders in the country to obtain, complete and fill self-certification forms.
This was contained in a series of tweets shared on Thursday via the verified Twitter handle of the Nigerian government.
It stated that each account holder must submit the filled forms in their respective financial institutions as part of due diligence procedures in line with the Income Tax Regulations 2019.
The forms have been categorised into three: Form for Entity, for Controlling Person (Individuals having a controlling interest in a legal person, trustee, etc); and form for individual
The directive by the government warned that “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.”
