It was announced on Thursday that individuals who hold accounts in different financial institutions would have to collect and submit separate forms to each one of the institutions.
The federal government, in a tweet on Friday, acknowledged that the tweets were misleading.
“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,” it wrote.
“Notice does not apply to everybody. FIRS will issue appropriate clarification shortly.”
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 pic.twitter.com/KBiPh0lCwJ
— Government of Nigeria (@NigeriaGov) September 18, 2020
In the statement on Thursday, it had said three categories of forms for entities, individuals and controlling person (individuals having a controlling interest in a legal person, trustee, etc) are said to be available.
“The forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019,” it said.
“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.”
Thecable