The federal government has apologised for its tweets on the self-certification procedure.
It was announced on Thursday that individuals who hold accounts in different financial institutions would have to collect and submit separate forms to each one of the institutions.
The federal government, in a tweet on Friday, acknowledged that the tweets were misleading.
Government apologized for the misleading tweets that went up on Thursday, regarding the completion of self-certification forms by Reportable Persons.
It said the notice does not apply to everybody and that FIRS will issue appropriate clarification to that note.
In the statement on Thursday, it had said failure to comply with the directive attracts sanctions which may include monetary penalty or inability to operate the account.
However, a clarification published by the Federal Inland Revenue Service (FIRS) showed that the directive applies to individuals and entities who have presence in more than one country.
According to FIRS, Reportable persons are often non-residents. And other persons who have a residence for tax purposes in more than one jurisdiction or country.
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