FG apologises for asking all bank, other account holders to re-register.

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 and NIN, had attracted condemnations on social media.
FG apologizes to Banks
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.
AUTHOR: iBlog Sport
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