Self-Certification bank verification that was announced yesterday by the Federal Government of Nigeria has generated a lot of reactions from Nigerians.
Many Nigerians took to various social media platforms to condemn the self-certification bank verification directives that were announced sighting the insensitive attitude of the government to the plight of the masses.
However, following the public outcry the Federal government has made a clarification on the matter and has apologized to Nigerians over the misleading public announcement.
The federal government tweeted on it’s official Twitter handle today stating the information as regards to Self-Certification Bank Verification was not directed to everybody and that it has long deleted the tweet.
The Federal Government of Nigeria tweets reads “We apologize 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” https://t.co/KBiPh0lCwJ
And the Federal Inland Revenue Service has also issued a public notice to that effect. Nigerians are advised to disregard yesterday’s Self-Certification bank verification information.
The Federal Inland Revenue Service said the Self-Certification bank verification form is basically to be administered on Reportable persons holding accounts in Financial institutions that are regarded as “Reportable Financial Institutions” under the CRS.
Reportable persons are often non-residents and other persons who have a residence for tax purposes in more than one jurisdiction or Country.
Financial Institutions are expected to administer the Self Certification form on such account holders when information at its disposal indicates that the Account holder is a person resident for tax purpose in more than one jurisdiction. purpose
The information that indicates an account holder is a resident for tax purposes in more than one jurisdiction, is expected to be available to Financial Institutions during account opening processes for the KYC and AML
The Federal Government’s quick damage control response on the Self-Certification bank verification has actually saved the government a lot of embarrassment as effective communication as been the problem of this current government.