19/05/2022
What is SCUML?
SCUML means Special Control Unit Against Money Laundering is a unit of the Economic and Financial Crimes Commission (EFCC). The certificate is issued by the EFCC as a proof that a bank account is not being used for money laundering activities and is issued after a thorough background check.
What does the SCUML do ?
SCUML is charged with the responsibility of monitoring, supervising and regulating the activities of Designated Non Financial Institutions (DNFIs) in line with the Money Laundering (Prohibition) Act ML(P)Act 2011.
Who are designated Non Financial Institutions ?
Section 25 of the Money Laundering Prohibition Act defines DNFIs as dealers in jewellery, cars and luxury goods, Precious stones and metals, Real estate, Estate developers, Estate surveyors and Valuers, Estate Agents, Chartered accountants, audit firms, tax consultants, clearing and settlement companies, hotels, casinos, supermarkets,.
Others include dealers in Merchanised Farming equipment and machineries, Practitioners of Mechanised farming, Non Governmental Organisations (NGOs) or such other businesses as the Federal Ministry of Trade and Investment or appropriate regulatory authorities may from time to time designate.
To register for your SCUML Certificate or for more enquiries, kindly send a Dm or and we will be happy to assist you.