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The Federal Government has directed all account holders
in the country to obtain and fill self-certification forms in line
with the Income Tax Regulations 2019.
The directive contained in a series of tweets on Thursday stated
that each account holder must submit the filled forms in their
respective financial institutions.
“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 is
required to complete & submit the form to each one of the
institutions,” it stressed
The government, however, stated that the exercise is part of due
diligence exercise mandated by the banks and other financial
institutions in line with the Income Tax Regulations 2019.
According to the directive, the forms have been categorised into
three: Form for Entity, for Controlling Person (Individuals having
a controlling interest in a legal person, trustee, etc); and form
for individual
The directive by the government warned that “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.”
Anti-Corruption: FG launches Database
for Stolen Assets Tracing
The Federal Government
has officially launched a Central asset database initiative
designed to trace, track and recover stolen assets.
The Honorable Attorney
General of the Federation and Minister of Justice (HAGF), Abubakar
Malami SAN made this known at the programme tagged:
‘Formal launch of the Central Database under Asset Tracing,
recovery and management Regulations 2019 and the Central Criminal
Justice Information System (CCJIS) under the National
Anti-Corruption Strategy 2017-2019, and Sensitization Workshop for
stakeholders in Abuja, on 17th September,
2020 .
Delivering his speech
at the occasion, Abubakar Malami SAN described the initiative as
continual efforts and further commitment of the President Muhammadu
Buhari’s administration to fighting corruption in the country.
He said the initiative
was also targeted at deepening transparency in the asset recovery
effort in accordance with the United Nations Charter.
Malami explained,
“Apart from our involvement in the Open Government Partnership
initiative, anti-corruption agencies saddled with responsibilities
have been given adequate support to succeed.
He disclosed that the
Federal Government of Nigeria has declared its commitment in
deploying technology to every nook and crannies of the
Federation to enable the relevant stakeholder key into the 21st
Century technology in Nigeria through Central Database.
The Minister pointed
that this will enable the relevant stakeholder key
into the 21st Century technology in Nigeria which
guarantees transparency and ensures there is accountability on the
part of public officers.
He expressed the
Ministry’s readiness to work with the Judiciary at all
levels, Anti-Corruption Institution at both the States and Federal
levels and the Nigerian Police in order to run the information
center real time.
“Let me state in
addition to what the Solicitor General of the Federation and
Permanent Secretary has said about the Central Criminal Justice
Information System (CCJIS), the Office of the Attorney General of
the Federation and Minister of Justice, is developing legislation
for the full implementation and operation of the CCJIS in order to
ensure compliance” he explained
In his opening
remarks, the Solicitor General of the Federation and Permanent
Secretary, Federal Ministry of Justice, Dayo Apata,
SAN, disclosed that, the Central Database for
assets recovery and Central Criminal Justice Information System are
practical expression of the administration’s willingness to have a
one-stop information centre where timely and verifiable information
is sourced and provided to all Stakeholders, whether as private,
public, local or international entity.
He said, “let me
recall that, following the issuance of the asset tracing, recovery
and management regulations on the 29th October,
2019 by the AGF, the need to put in place a centralized database
for the storage of records of all recovered assets within and
outside of Nigeria as contained in Section 3 of the ATRM
Regulations, 2019 became obligatory for Nigeria. Hence, the AGF
team worked tirelessly with minimal funding to develop these
tools.”
Enumerating the
objectives of the ATRM, Apata said, it is centralised asset
depository for easy coordination for all Stakeholders with regards
to asset Management. Most importantly, the Central Database for
recovered assets compliments Central Criminal Justice Information
System.
Speaking on National
Anti-Corruption Strategy (NACS), the Solicitor General of the
Federation explained that, following the directives by the Federal
Executive Council (FEC) on 5th July, 2017, the
Ministry under the HAGF developed a robust implementation plan for
NACS.
“Let me inform
Stakeholders present here today that, Federal Ministry of Justice
has developed Central Criminal Justice Information System under the
NACS in line with ‘Pillar 1’ on prevention, with specific emphasis
on strengthening the legal, institutional and operational framework
designed to prevent and combat corruption”.
He therefore
encouraged all relevant Stakeholders and Nigerians to never relent
in fight against corruption for the battle requires
perseverance.
In his good will
message, the Speaker, House of Representatives, RT. Hon Femi
Gbajabiamila represented by the Chairman, House Committee on
Justice, Hon. Ugonna Ozurigbo said that the ATRM is a panacea to
rekindling the value system of a nation. He added that it is a core
value of good governance and effective management of this venture
will serve as a deterrent to would-be fraudulent minded individuals
who may find themselves in public offices.
He described the
initiative as apt for the 21st century, assuring
that NASS will continue to empower relevant agencies to recover
looted assets via quality legislation.
In a short remark, the
both acting Chairman of the Economic and Financial Crimes
Commission (EFCC) and Chairman, Independent Corrupt Practices and
Other Related Offences Commission (ICPC), DCP Mohammad Umar and
Professor Bolaji Owasanoye jointly described the initiative as a
welcome development, saying they were ready to key into the
initiative.
According to Umar, the
initiative will enhance effective management of seized assets,
saying the agency is already maintaining a database which contains
all frozen or seized assets.
While commending the
federal government, Owasanoye described the initiative as long
overdue, saying apart from preventing any form of looting and
re-looting of assets, the initiative will remain a key component of
transparency and accountability.
The British High
Commission through its representative, Andrew Clowes also pledged
its partnership with the Nigeria government in the fight against
corruption, describing it as a step forward.
Also, in his goodwill
message, the Auditor-General for the Federation, Mr Anthony Ayine
represented by Andrew Magaji lauded the Ministry on the initiative
of ATRM.
He commended the HAGF
for the memo presented to the Federal Executive Council on a bill
to seek the approval of the Council to transmit to the National
Assembly for passage into law “the proceeds of Crime and Management
Agency Bill” which to him was a move in a right direction.
Also present at the
event are; Representative of Inspector General of Police, FIRS
Chairman, Muhammed Nani, Representative of UNODC and Civil Society
Organisations and other relevant stakeholders.
Modupe
Ogundoro
Deputy Director
17th September, 2020