FG retracts previous directive, says account holders don’t have to re-register

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The Federal Government has retracted the directive it issued yesterday instructing account holders with all financial institutions to proceed to the said institution for re-registration of information.
Recall that the Federal Government gave a directive to all account holders in financial institutions to obtain, complete, and submit self-certification forms despite the possession of the Bank Verification Number (BVN) and National Identity Number (NIN).
However, the government has now apologized to Nigerians for what it termed a piece of misleading information regarding ‘Self-certification’ forms.
The government announced in a statement on its official Twitter account that Nigerians should disregard earlier information.
The statement read: “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.”
While clarifying on Twitter, the Federal Inland Revenue Service (FIRS) explained that the self-certification form was pursuant to the Income Tax (Common Reporting Standard) Regulations 2019 and in fulfillment of Automatic Exchange of Information Requirements. According to it, the form would be administered on reportable persons holding accounts in financial institutions regarded as “Reportable Financial Institutions” under the CRS. (NewsBreakers)

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