FG Apologises to Nigerians Over Self-Certification Forms Misinformation

The Federal Government has tendered a warm apology for misinformation over Self-Certificate forms.

Nigerian Youth Investment Fund

Nyscinfo.com earlier reported that FG ordered all bank account holders and insurance firms, to fill and submit self-certification forms.

The order was given to Nigerians on Thursday despite the existing Bank Verification Number (BVN) and the National Identification Number (NIN).

FG threatened to block access to defaulters’ accounts or impose a monetary penalty. However, the order attracted condemnations by Nigerians on social media.

But on Friday, FG tweeted again apologizing for misinformation.

“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.

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The statement reads;

“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.

“The Self Certification 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”.

What do you think about FG apology? Share your thoughts in the comment section below.

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Updated: September 18, 2020 — 11:48 am

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Humphery

Humphery is a seasoned internet entrepreneur and a life coach. He has been the Nyscinfo ambassador since 2017. He is knowledgeable enough to guide you. Keep following this website for updates, we love you!

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  1. Good one! I love it and I hope I can chip in an idea as it comes thanks.

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