Affidavit Of Source Of Income for Nigeria

Affidavit Of Source Of Income Template for Nigeria

An Affidavit of Source of Income is a legally binding sworn statement used in Nigeria to formally declare and verify an individual's income sources. This document, governed by Nigerian federal law including the Oaths Act and Money Laundering (Prevention and Prohibition) Act 2022, provides detailed information about regular and irregular income streams, employment status, and financial circumstances. It requires verification by a Commissioner for Oaths or Notary Public and is commonly used for visa applications, loan proceedings, legal matters, and compliance with financial regulations.

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What is a Affidavit Of Source Of Income?

The Affidavit of Source of Income is a crucial legal document in Nigerian jurisdiction that serves multiple purposes in both private and public sectors. It is primarily used when individuals need to provide official verification of their income sources for various purposes such as visa applications, loan applications, legal proceedings, or compliance with anti-money laundering regulations. The document, sworn before a Commissioner for Oaths or Notary Public, includes detailed information about employment, business interests, investment income, and other revenue streams. Its importance has grown with increased scrutiny of financial transactions and the need for transparency in financial dealings. The affidavit must comply with Nigerian federal laws, including the Oaths Act and recent anti-money laundering legislation, making it a vital tool for financial verification and legal compliance.

What sections should be included in a Affidavit Of Source Of Income?

1. Title and Heading: Formal title 'AFFIDAVIT OF SOURCE OF INCOME' with court details and jurisdiction information

2. Deponent Information: Full legal name, age, nationality, occupation, and residential address of the person making the affidavit

3. Oath Declaration: Standard opening declaration stating that the deponent makes the oath sincerely and truthfully

4. Employment Status: Current employment status, including employer details if employed, or business details if self-employed

5. Primary Income Sources: Detailed description of all regular income sources, including salary, business income, or professional fees

6. Income Amount Declaration: Specific declaration of approximate monthly or annual income from each source

7. Supporting Documentation: Reference to any attached documents that verify the declared income sources

8. Verification Statement: Final declaration confirming the truth of all stated information

9. Jurat/Closing: Formal closing including date, location, and commissioner for oaths' attestation

What sections are optional to include in a Affidavit Of Source Of Income?

1. Additional Income Sources: Section for declaring irregular or additional income sources such as investments, rental income, or royalties - used when applicable

2. Historical Income Information: Details of past income sources if relevant to the purpose of the affidavit - used when past income history is required

3. Third Party Verification: Statements from employers or business partners confirming income - used when additional verification is required

4. Purpose Declaration: Specific statement about why the affidavit is being made - used when required by the requesting authority

5. Foreign Income Declaration: Details of any income from foreign sources - used when the deponent has international income streams

What schedules should be included in a Affidavit Of Source Of Income?

1. Schedule A - Income Documentation: Copies of payment slips, bank statements, or other income verification documents

2. Schedule B - Business Information: Details of business ownership, registration documents, and business income statements if applicable

3. Schedule C - Tax Records: Recent tax returns or tax clearance certificates supporting the declared income

4. Appendix 1 - Supporting Declarations: Any additional sworn statements from employers, business partners, or relevant third parties

5. Appendix 2 - Asset Schedule: List of assets generating income, if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Genie AI

Document Type

Affidavit

Cost

Free to use
Relevant Industries

Banking & Financial Services

Legal Services

Immigration Services

Real Estate

Investment & Securities

Public Sector

International Trade

Professional Services

Education

Healthcare

Relevant Teams

Legal

Compliance

Finance

Risk Management

Corporate Secretariat

Human Resources

Regulatory Affairs

Administrative Services

International Relations

Relevant Roles

Legal Officer

Compliance Manager

Immigration Consultant

Bank Manager

Visa Processing Officer

Financial Controller

Risk Assessment Officer

Corporate Secretary

Legal Administrator

Regulatory Affairs Manager

Human Resources Manager

Finance Director

Company Secretary

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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