Minister of finance, budget and national planning, Ahmed Zainab on Thursday doused growing anxieties over the provision in the newly passed Finance Bill 2019 requiring banks to demand from customers Tax Identification Number (TIN) before activating their accounts, saying government would not enforce the provision from January 2020.
Ahmed, who gave this assurance during the briefings on the breakdown of the just enacted Appropriation Act 2020 in Abuja, said government would still consult with the banks and other agencies on the issue with a view to adopting the best approach for effective implementation of the TIN requirements.
Specifically, on the new Finance Bill which she expressed the hope that the President would sign into law this week, the minister explained that the President would still seek relevant ministers’ advice on the bill before assenting to it in order to ensure that all grey areas of the provisions are critically addressed before the implementation.
She explained: “We are confident that this week, Mr. President will receive the Finance Bill from the National Assembly.”
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