FG subjects Nigerians to another round of bank verification,announces stiff penalty for non compliance 

The federal government on Thursday directed all account holders in Financial institutions (Banks)including Insurance companies, to complete and submit Self -Certified Forms required of them to their respective financial institutions.

In a statement on Twitter, the government said that the forms are required by the relevant financial institutions to carry out due diligence procedures in line with the income Tax Regulations 2019.

It warned that anyore who failed to comply with the government directive will
face monetary penalty or will be unable to operate the account.