Register or Your Bank Accounts will Be Blocked, FG Warns as it Enforces New Bank Registration Process (full details)


Author: Kess Ewubare

– The FG has announced that every person who owns an account with a financial institutions has to undergo a self-certification process

– The announcement was made on Thursday, September 17, via the federal government’s Twitter handle

– The government urged Nigerians to comply with the directive

Ginna Crochets 

The federal government has directed Nigerians with accounts in any financial institutions to obtain, complete and submit self – certification forms to their respective financial institutions or face penalties for not complying.

The directive was announced on Thursday, September 17, via the federal government’s Twitter handle.

The federal government said individuals who hold accounts in different financial institutions would have to collect and submit separate forms to each one of the institutions.

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“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.

According to the government, the failure to comply with the directive would attract sanctions such as monetary penalties or the inability to operate the account.

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In other news, Aliyu Abubakar Aziz, the National Identity Management Commission (NIMC) director-general, has said that only 42 million people have been captured on the National Identity Number (NIN) despite Nigeria’s large population.

According to The Nation, Aziz revealed this on Wednesday, September 16, when speaking at the second National Identity Day celebration in Abuja.

The NIMC boss advised Nigerians to register as registration is free as they will start paying for registration of the number in the next three to five years.

Meanwhile, previously reported that the federal government announced that it has replaced the identity card with a digital means of identification. 

This change was announced by the minister of interior, Rauf Aregbesola, on Thursday, August 13, during a press briefing in Abuja.

The minister, who also chairs the committee, said that the card is no more the focus, adding that the important thing is the NIN. He said the digital process will be domiciled in NIMC.

In another report, NIMC has disclosed that the mobile application designed for digital identification is not yet in use.

This revelation was given by the spokesperson of NIMC, Kayode Adegoke, who said that the application for the online national identity card is still being test run.

Adegoke stated that this became necessary following numerous complaints by Nigerians who try to use the app to upload their details online.

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