The Federal Government told all who have bank accounts in the country to obtain and fill self-certification forms tied to Income Tax Regulations 2019.

The directive contained in a series of tweets on Thursday stated that each account holder must submit the filled forms in their respective financial institutions.

“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 is required to complete & submit the form to each one of the institutions,” it stressed

“The forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019.”

The FG added that “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.”