…Says failure to comply with order attract monetary penalty or inability to operate account
…as Nigerians blast government for not making use of BVN, NIN, others
The President Muhammadu Buhari led Federal Government on Thursday evening ordered all account holders in the country’s financial institutions to register their details again.
This new order was disclosed by the government on its Twitter account, @NigeriaGov, on Thursday.
According to the order, customers with multiple accounts with different financial institutions will have to replicate same registrations for each of the accounts and it can only be done by picking a form in the banking hall.
TheNewsGuru.com, TNG reports that the order was given despite government’s possession of such registration details earlier via the Bank Verification Number (BVN), Voters registration and the National Identification Number (NIN) done by the account holders.
https://twitter.com/NigeriaGov/status/1306634571082076161?s=20
https://twitter.com/NigeriaGov/status/1306634576291418118?s=20
It said, “This is to notify the general public that 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 are required to complete and 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 self-certification form is in three categories: Form for entity – for controlling person (individuals having controlling interest in a legal person, trustee, etc) – Form for individual.
“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.”
The government, however, did not give more explanation on this order.
Nigerians react
Meanwhile, Nigerians did not take the order likely as they described it as a waste of time and repetition of similar activity earlier carried out during the BVN process.
Nigeria is broke. They’re going to tax us to death. No concrete economic foresight or plan whatsoever. Just forcing us to fund our suffering from our own pockets. Nothing is certain except death, taxes and Buhari till 2023.
— ULOMA (@ulxma) September 17, 2020
The Buhari regime behaves like a stubborn witch that is determined to kill its victim by all means. They don't even pretend about the fact that they want to foist hardship on the citizens. Asking people to line up in banks and fill forms despite National ID and BVN is ludicrous.
— Inibehe Effiong (@InibeheEffiong) September 17, 2020
While you only had to register for your BVN once, understand that this Coronavirus Self Certification will require you to visit every financial institution you do business with. Yet another genius move by @NigeriaGov & its EASE of Doing Business agenda! What a thinking government
— JJ. Omojuwa (@Omojuwa) September 17, 2020
BVN. Driver's license. National ID card. INEC registration. International passport. Biometrics were taken in all these places. So, what is the meaning of this?
— Olusegun Adeniyi (@Olusegunverdict) September 17, 2020
A government heads by someone who does not have one academic certificate, even if such a person has a Professor has a vice, the direction of such government would most likely be backwards.
What's the use self certification form where there's National ID & BVN?
No explanation!
— Tosin Olugbenga (@TosinOlugbenga) September 18, 2020
National ID was to bring us closer to the country,Self certification is the next step to TAXING.
As long as you earn money in Nigeria soon, we will all be taxed for everything. It's more close than you think it is.
— ❤️ Desire 👑 (@Haert_desire) September 17, 2020
In this 21century, Nigerian govts aren't think of how to improve the life of their people. But they wants us to go & queue for Self Certificate. After having National ID. Driver's License. BVN & Voters Card. For how long are we going to continue enduring madness in this country?
— IFÁ FUNSHO 𓋹 (@funshographix) September 17, 2020
In this 21century, Nigerian govts aren't think of how to improve the life of their people. But they wants us to go & queue for Self Certificate. After having National ID. Driver's License. BVN & Voters Card. For how long are we going to continue enduring madness in this country?
— IFÁ FUNSHO 𓋹 (@funshographix) September 17, 2020