And you remember when your Lord took from the nape of children of Adam their offspring and made them witnessing upon their soul: “Am I not your Lord?”. They replied: “Of course, we do witness!” not you to say on the Day of Judgment as: “We were heedless about this”.
The Three-Time-Knower Lord created everyone’s soul in Paradise from a Single Soul as explained in verses 2: 28 and 4: 1. Then Lord took a covenant from everyone by asking: "Am I not your Lord". That means is He not their Owner Lord and all that they have. Then all of them replied: "Of course! We do witness that You are only our Owner Lord".
By praying the Most Exalted Prayer of forgiveness mentioned in verse 2: 27 in the dawn and dusk, the believer remembers the covenant he had made with the Lord in Paradise. The 999 out of every 1000 are the Fujjar who read these verses but are unaware of the covenant made with the Lord. They are the transgressors as explained in verse 7: 102.