The Federal Inland Revenue Service has said anyone who fail to register and submit their self-certification forms risk forfeiture of their bank accounts and other assets with financial institutions.
“Persons holding accounts in different financial institutions is required to complete and submit the form to each one of the institutions.” “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,” Nami said.
Many believed that all information required in the self-certification form has already been replicated in the existing citizens’ data platforms.
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