Nigerians Reacts To New Rule For Self Certification In Banks

Following a notice released by the Federal Government requesting Nigerians with bank accounts to do “self certification” on Thursday, Nigerians have blasted the Buhari led administration.

the Federal Government has had earlier announced that all account holders in Financial institutions such as Banks and Insurance companies are required to obtain complete and submit self certification forms to their respective financial institutions.

According to the notice which was released by the Federal Inland Revenue Service, 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 is required to complete & 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.

Many angry Nigerians have shown their displeasure over the notice, accusing the Buhari led administration of incompetence and making life difficult for the common people.

Many wondered why government, which already has their data in various forms, in BVN, National ID Card, Voters Card and Drivers Licence, wants to subject them to stress, by queueing for ‘self certification at banks”.

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. For more enquiries visit @firsNigeria website (https://t.co/lv3VYV5wD4) for more details.

— Government of Nigeria (@NigeriaGov) September 17, 2020