The Federal Government has tendered an apology to all Nigerians for asking them to re-register their details in financial institutions they have accounts with.
Yesterday, the Nigerian government via its Twitter handle asked all account holders in banks, including insurance companies, to fill and submit a Self-Confirmation form.
Failure to do so, the government threatened to block access to defaulters’ accounts or impose a monetary penalty. This tweet caused an uproar on social media as Nigerians condemned it.
However, in a tweet today, the government has apologised saying the tweet was a misinformation.
It tweeted, “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.
It read “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.
“Financial Institutions are expected to administer the Self Certification form on such account holders when the information at its disposal indicates that the Account holder is a person resident for tax purpose in more than one jurisdiction.
