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FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React

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FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React

The Federal Government of Nigeria, yesterday, made an announcement on Twitter, asking bank account holders in financial Institutions to undergo another compulsory registration exercise different from BVN.

According to them, each individual must carry out this registration in all the various financial institutions where they have accounts.

FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React

The announcement reads: “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.”

The FG added 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.”

FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React 3

The announcement annoyed some Nigerians. See their reply below…

FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React

FG Ask Bank Account Owners To Undergo Compulsory Registration Exercise Different From BVN, Nigerians React

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