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Fear of surge in Covid-19 heightens as FG directs all bank customers to re-register

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The latest directive by the federal government mandating all bank customers to re-register has heightened fears of another wave of Covid-19 infections as banks are expected to witness more footfalls in the coming weeks and months.

This is coming despite the fact that banks are already in possession of customers’ Bank Verification Numbers (BVN) and National Identity Numbers (NIN).

The new directive was disclosed by the government on its Twitter account, @NigeriaGov, on Thursday.

The statement reads, “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 and 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 self-certification form is in three categories: Form for entity – for controlling person (individuals having controlling interest in a legal person, trustee, etc) – Form for individual.

“Failure to comply with the requirement to administer or execute this form attracts sanctions, which may include monetary penalty or inability to operate the account.”

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