‘What‘s BVN, National ID For?’ – Nigerians Decry FG’s Directive For Bank Account Holders To Fill, Submit Self-Certification Forms

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President BuhariNigerians have decried Federal Government’s directive ordering all persons with accounts across financial institutions like banks and insurance firms to complete and submit self-certification forms.

The directive was announced by the Federal Government in a social media statement on Thursday.

FG warned that failure to comply may include monetary penalty or inability to operate the account.

Read Also: FG Orders Nigerians With Bank Accounts To Fill, Submit Self-Certification Forms

It stated;

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 ARE REQUIRED TO COMPLETE & SUBMIT THE FORM TO EACH ONE OF THE INSTITUTIONS. THE FORMS ARE REQUIRED BY THE RELEVANT FINANCIAL INSTITUTIONS TO CARRY OUT DUE DILIGENCE PROCEDURES IN LINE WITH THE INCOME TAX REGULATIONS 2019.

The Federal Government expressed that;

THE CERTIFICATION FORMS WOULD BE IN 3 CATEGORIES, WHICH ARE “FORM FOR ENTITY – FOR CONTROLLING PERSON (INDIVIDUALS HAVING CONTROLLING INTEREST IN A LEGAL PERSON, TRUSTEE, ETC) – FORM FOR INDIVIDUAL.

In addition, FG urged Nigerians to comply with the requirements and execute all forms needs, if not sanctions may be introduced in the forms of monetary penalty or inability to operate the account.

The announcement was however greeted with outrage on Twitter Thursday evening.

Many Nigerians who commented on the new move expressed worry over the duplication of such efforts across different departments and agencies of government.

According to multiple opinions, data can be generated from BVN, National ID, drivers license, SIM registration, international passport or other documents that many Nigerians already have.

Others wondered why the nation was fixated on such “analogue” and “laborious” means of generating data from its citizens.

Some Nigerians also called the government for attempting to expose citizens to risk of contracting COVID-19, as the self-certification forms are to be submit at the office of the financial institutions.

See some reactions below;

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