This thread is long but doesn’t really explain anything. The key question for me is what the default position is.
And it’s interesting that even tax experts are struggling with the answer
There are 1,000 bank account holders. It’s obvious this only applies to say 10 of them. How do you go about identifying those 10? That’s the question.
Option A - Maximum Stress
Everybody fill a form, whether or not it applies to you. If you have 2 accounts with N5k in each one and you’ve never ever left Nigeria, fill 2 paper forms and take it to your bank.
Option B - Just The Tip Stress
Banks identify who they think might be inside the net. So for example everyone who has ever bought PTA is asked to fill a form. Out of 1,000 this only stresses like 200 people
Option C - Minimal Stress
Banks know who exactly is affected by this. They know the 10 people and simply send them a message asking them to fill the form.
If I know Nigerian regulators well enough, Option A is the one they will go for. But let’s be observing
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