The Federal Inland Revenue Service (FIRS) has launched an online AEOI-CRS reporting portal to be used by reporting financial institutions (RFI) in Nigeria for CRS reporting purpose. RFIs, such as commercial banks, merchant banks, discount houses, mortgage and development banks, brokers, asset management companies, life insurance companies, etc., are required to enrol on the AEOI-CRS portal in order to have access.
As part of the enrollment process, each RFI is required to designate an appropriate officer of the RFI as a Primary User (PU) and furnish FIRS with a letter, duly signed by the Chief Executive Officer, introducing the PU.
The PU will be the custodian of the RFI’s login details on the portal and is expected to complete the enrolment process and have access to the related AEOI-CRS documents via the FIRS website using this Link.
FIRS has not confirmed if its CRS infrastructure has been certified by Global Forum for confidentiality and data safeguard to enable automatic exchange of the information with other reportable jurisdictions. However, FIRS emphasises that all RFIs ensure all CRS information returns are submitted through the new reporting portal on or before the deadline of 30 September 2020.