Self-Certification Forms: “What Is BVN For?” – Nigerians React As FG Threatens Sanctions - Nicole Kaima's Blog

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    • Thursday, September 17, 2020

    Home Bank BVN FG Self-certification form Self-Certification Forms: “What Is BVN For?” – Nigerians React As FG Threatens Sanctions

    Self-Certification Forms: “What Is BVN For?” – Nigerians React As FG Threatens Sanctions


    The Nigerian government has ordered all persons holding accounts across financial institutions and insurance
    firms to complete and submit Self-certification forms.

    This was announced via Twitter on Thursday, September 17. The FG warned that failure to comply may include monetary penalty or inability to operate the account.

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    According to the government, 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”.

    “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 tweet read.

    Nigerians are however condemning the directive, as they wondered what the Bank Verification Number (BVN), was for. Others wondered why the government would make such demand in the middle of a pandemic.

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    See reactions;
    “This government will teach those who are willing to learn that election have consequences ; elections are not like football competitions... Our lives, our businesses, families and education depends on that 2mins action at the polling booths.” – Holy Grail D' Zik @ezek_o

    “It appears the government wants to spike up COVID-19 infections? Can't this wait? Must it be now? What happened to BVN? This is insensitivity at its height. Why do we want to destroy the gains of the fight against COVID? The curve is flattening,do we want to create chaos?” – Tutu @Shobabs32

    “Besides stealing of funds to buy latest cars and lifestyle. Everyother thing and policies done by the Nigerian government is 500BC. After ID to open account and BVN . We now suddenly need self-certification and all have to go to the bank.” – Gbenga.F @Don_Gbengarh






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