The Federal Government has ordered all account holders in the country ’s financial institutions to register their details again .
The order was given despite the possession of the Bank Verification Number and the National Identification Number by account holders .
This new order was disclosed by the government on its Twitter account, @NigeriaGov , on Thursday .
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.


https://punchng.com/fg-orders-all-bank-other-account-holders-to-re-register/